Tennessee athletic department reaps huge surplus from 2015-16 fiscal year
In the college football landscape, winning and revenue go hand in hand.
That was certainly the case for the Tennessee athletic department, which announced in a Wednesday news release that it reeled in a $12.2 million surplus in the 2015-16 fiscal year, according to a report from Rocky Top Insider.
A record $30.7 million in donations — along with increased football ticket sales, licensing royalties and SEC distributions — helped the school exceed its expected $124 million revenue for the fiscal year, which ended June 30.
Tennessee’s budget for the 2016-17 fiscal year is $129.5 million, according to the report. The university’s athletic reserves have ballooned to $18.4 million, and $5 million of that fund will go to facility improvements.
“As I stated from day one, a successful athletics department must be financially stable and healthy,” Tennessee vice chancellor and athletic director Dave Hart said in the news release. “We have once again delivered on a balanced fiscal approach which has invested in our student-athletes, improved our facilities, and increased our reserves. The incredible support from our fans and donors, along with the football program’s continued upward momentum, have been paramount in rebuilding our financial picture.”