SEASON MAY BE CANCELED IN SAN DIEGO

Raising for the first time the possibility that the entire concert season could be canceled, San Diego Symphony officials Wednesday divulged that management had overestimated its 1985-86 fund-raising projections by $2 million, leaving the symphony with an $877,000 debt.

The announcement was made in a morning press conference at Symphony Hall during which a 10-year plan for fiscal “stabilization, recovery and growth” was presented by Executive Director Wesley O. Brustad. The symphony’s board of directors approved that plan and a sharply reduced budget Tuesday. The fiscal plan also envisions a change in winter programming to include pop music along with classical fare.

With contract talks between musicians and the symphony at a stalemate, Tuesday’s approval of a $6.5-million budget--down $1.5 million from last year’s budget--gives credence to speculation that the orchestra’s winter season may be canceled. The two sides are $500,000 apart on compensation.

Last year, officials threatened bankruptcy if the community failed to rescue the fiscally weak orchestra from its indebtedness.

Brustad unveiled a 10-year plan he and his staff prepared that he says will put operations on a stable footing. He has projected that, over the next five years, the symphony will need $5.5 million to eliminate its debt.