Univ. Of Hawaii Athletics Incurs $2M Deficit, Twice As High As Initial Projection
The Univ. of Hawaii athletic program is facing a $2M deficit -- $1M "more than initially pledged last year -- when it closes the books" on FY '13 on June 30, according to Ferd Lewis of the HONOLULU STAR-ADVERTISER. The previous FY deficit was $3.4M, the "largest in the 12 years since UH began regularly running a deficit." But football revenues from a 1-11 season that came in $906,478 "lower than projected and rising costs have contributed to making" the $1M target "unattainable this year." AD Ben Jay said, "I mean, $1 million was always the goal (and) we're doing our utmost to try and meet that goal, but we're not going to get there this year." Jay added UH Chancellor Tom Apple has agreed to "give me flexibility" on the issue. In looking toward the upcoming FY, UH officials are "projecting their takeover of the RainbowTique properties, which will be re-branded as H-Zone, and product lines will turn at least a $500,000 profit." Only "twice in the past decade," '08 and '11, has UH "managed to post a surplus" (HONOLULU STAR-ADVERTISER, 5/28).