The St. Paul Chamber Orchestra is reporting a deficit for the just-concluded fiscal year of nearly $800,000, its first in a decade. The announcement comes on the heels of the signing of the SPCO’s new contract with its musicians, which trimmed six weeks from the orchestra’s season and slashed salaries by nearly 20%. The SPCO also laid off a third of its administrative staff last spring in a cost-cutting move, and has significantly scaled back or replaced some of the larger productions it had scheduled for this season.