Athletics projects budget surplus

The Athletic Department budget projects an operating surplus of $2.4 million for the year ending June 30, 2005, and a surplus of $8 million for the current fiscal year, Athletics Director Bill Martin told the Board of Regents July 15.

"It is a continuous struggle to balance our revenue streams when the Athletic Department funds all of our sports to the full NCAA scholarship limit; our mission of competitive excellence comes at a significant financial commitment," Martin told the regents.

The favorable results for fiscal year 2004 resulted from a seven-game home football schedule and greater-than-expected licensing revenues and annual donations, said Jason Winters, chief financial officer of the Athletic Department. Winters also said the operating surplus allowed the department to accelerate capital expenditures for facility projects and transfer additional money to the department's deferred maintenance fund.

Total revenues for 2005 are budgeted to be $61.4 million, $4.2 million less than projected revenues for 2004. The reduction in revenues primarily is due to a six-game home schedule for football. Total operating expenses for FY2005 are budgeted at $59 million, only 1 percent higher than the projected expenses for FY2004.

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