The
University of Hawaii athletic department’s deficit for the
just-concluded fiscal year is expected to be the biggest in its history.
By the
time the annual audit is concluded this fall, UH said it expects to
report a deficit of $4.2 million-$4.4 million for the fiscal year that
concluded June 30, athletic director David Matlin said.
That is a $400,000 rise above the preliminary estimate of $3.8
million-$4.0 million officials had forecast in a May appearance before
the school’s Board of Regents.
“The
difference was some revenues that were anticipated to come in didn’t
come in,” Matlin said. “And some expenses ended up being a little
higher.”
For
example, Matlin said, “less money came in on some of the fundraising
arms.” Fundraising and donations were expected to finish more than $1
million below initial projections of $4.1 million.
In
addition the department has faced higher personnel costs due to the
changes in athletic directors and basketball coaching staffs.
The largest deficit of the past 20 years was $3,379,133 for the 2012-13 school year.
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