Wednesday, July 08, 2015

UH athletics projects record deficit

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.


Post a Comment

<< Home