The Univ. of Washington athletic department "expects to have a surplus of about $2,000" when its FY '17 concludes at the end of the month, a "major turnaround for a department that was in 'triage mode' with its budget" when AD Jennifer Cohen stepped into the role 18 months ago, according to Adam Jude of the SEATTLE TIMES. While the $2,000 sum is "mostly immaterial" for a department with revenues of $125M, UW a year ago was projecting a FY '16 deficit of nearly $15M. UW ended up with a deficit of about $7.6M, and in June '16 the athletic department was "bracing for another loss" in '17, projected at $5.6M. But the department is now "on track." UW last fall won the Pac-12 football championship and advanced to the CFP for the first time, "generating much pent-up excitement from a fan base that hadn’t seen much football success" in recent years. The average attendance for UW’s seven home games was 64,589, "up 2,670 from the year before." In turn, football’s "return to prominence helped spur a boost in fundraising." The department "beat its fundraising goal" by more than $3M. The department also reported $2.6M in "additional revenue from the football team’s appearance in the Peach Bowl." One possibility for more revenue being studied by UW grad students is the "effects of increased beer and wine sales." Jude noted UW has "two designated sections inside Husky Stadium dedicated to general beer and wine sales." Cohen said that there are "no plans to expand that" (SEATTLETIMES.com, 6/9).
COUGAR TOWN: In Seattle, Stefanie Loh reported Washington State will "likely close out" FY '17 with a budget deficit of $10.6M, "making this the fourth-consecutive year it has finished" more than $10M in the red. Officials said that the deficit spending "must stop," and WSU "has devised a plan to do that" by '21. The recovery plan "leans heavily on institutional support, increases in contributions, maximizing gate revenue from football and basketball, and perhaps, in the near future, beer sales at Martin Stadium and a student fee." WSU AD Bill Moos said, "We’re intent on getting our operation back in the black by 2021. We’re serious about it. It was part of our overall game plan when we invested in athletics earlier on after I got here, knowing full well we’d create some debt and that we’d have to have a plan from the beginning to pull out of it." WSU hopes a "revitalized football program can help lead the athletic department out of its financial hole." Football’s "recent success has led to a strong increase in ticket sales and donations," and WSU is "on track to break the record of 14,200 season tickets sold last season." The $10.6M deficit exceeds the $9.7M figure WSU projected in September, but school officials said that it "represents some progress." The previous three years' deficits were $12.9M, $13.2M and 13.7M (SEATTLETIMES.com, 6/9).
