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Univ. Of Colorado Athletic Department Pleased With Second Straight Balanced Budget

The Univ. of Colorado athletic department, after “posting three consecutive years of financial losses” from ‘12-14, “balanced its budget for the second year in a row” during FY ’16, which came to a close in June, according to Brian Howell of the Boulder DAILY CAMERA. The budget included an increase of roughly $2.33M in conference distribution -- taking in nearly $26.8M -- and a $2.5M spike in sponsorship money, most of which came from a $2M bonus from Nike for “renewing a sponsorship agreement last spring.” The department also had an “increase in football ticket sales by nearly $700,000 last year.” Overall, CU generated $69.4M in revenue, up more than $8M from the previous year, but it also “increased expenses” from $61.2M in ‘15 to roughly $68M this year. CU had an increase of more than $1.2M in facilities expenses, and “spent more on sports medicine, its nutrition program and other administration and support services.” The department also had an increase of $1.3M in “operating expenses for the football program" (Boulder DAILY CAMERA, 9/21).

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