Univ. Of Tennessee Athletics Department Reports Operating Surplus Of $12.2M

Univ. of Tennessee athletics yesterday reported total operating revenues of $136.2M over total operating expenditures of $124M during FY '15-16, "generating a net operating surplus" of $12.2M, according to Grant Ramey of the Knoxville NEWS SENTINEL. UT athletics brought in a record $30.7M through fundraising in annual unrestricted cash donations and also "recognized notable revenue increases in the areas of football ticket sales, trademark licensing royalties (Nike merchandise sales)" and SEC distributions. UT athletics' total unrestricted reserve is now at $18.4M, with $5M "designated for ongoing facility projects." UT a year ago "reported a net operating surplus" of $13.1M. Entering FY '16-17, UT athletics "produced a balanced budget" of $129.5M in operating revenues and expenditures (Knoxville NEWS SENTINEL, 10/6).