When the Long Island Philharmonic canceled the remainder of its 2003-04 season earlier this month for fiscal reasons, questions about the viability of a small-budget regional orchestra playing in the shadow of New York’s juggernaut of a music scene were inevitable. But the orchestra’s chairman insists that the arts are as valuable on Long Island as they are in Manhattan, and is calling on state and local government to increase their commitment to funding regional arts groups. Larry Austin also denies reports that the Philharmonic is in danger of permanent collapse, saying that the decision to cancel this season’s last concerts will make the orchestra stronger overall.