Univ. of Texas athletics is "on pace to meet" its $183M budget for the year and "possibly finish with a microscopic surplus of $1,241," according to an executive budget summary cited by Brian Davis of the AUSTIN AMERICAN-STATESMAN. This comes "two years after athletics finished in the red for the first time" since '99-'00. Texas men's AD Mike Perrin said, "We are on sound financial footing. It's something that I remain concerned about all the time, both on income and expenses." Davis noted audited financial figures show that the UT football program brought in $120.7M alone during the '14-15 academic year and $183.5M total. That "includes money from the Big 12’s television contracts, NCAA Tournament payouts" and the Longhorn Network’s $15M check. Men’s basketball turned a $6.4M profit, and baseball finished $1.6M ahead. Every other sport at UT "lost money, which is not uncommon across the country." UT had approximately $173.2M in expenses and transferred an additional $9.8M "back to the campus coffers, something few schools can claim." UT owed $25.7M in "debt service and facility rental payments." The school has "four Anthony Travel employees embedded within the department." The athletic department "pays Anthony Travel approximately $21,500 per month." Perrin has "balked at paying a monthly fee of $26,666 to The Aspire Group." Perrin and Aspire attorneys are "currently negotiating an end to their multi-year agreement." The number that "jumps off the page is payroll." UT paid out $23.7M in coaching salaries and benefits during the '14-15 athletic year. But another $37.5M "went to support staff and other administrative compensation and benefits." Seventy-eight of 318 UT athletic employees are "paid more than $100,000 annually." The other 240 employees "make an average of $51,975" (AUSTIN AMERICAN-STATESMAN, 8/13).
