KNOXVILLE - The University of Tennessee Athletics Department reported total operating revenues of $136.2 million compared to total operating expenditures of $124 million for the 2015-2016 fiscal year, which generated a net surplus of $12.2 million.
UT Athletics received a record $30.7 million through fundraising in annual unrestricted cash donations, according to a school release.
The release states, “The department also recognized notable revenue increases in the areas of football ticket sales, trademark licensing royalties (e.g. Nike merchandise sales), and Southeastern Conference distributions.”
UT Athletics has a total of $18.4 million in unrestricted reserves, with $5 million designated for ongoing facility projects. The new projects include new scoreboards for softball, baseball and soccer teams. Improvements are also scheduled for Dr. Robert L. Barksdale Tennis Stadium.
Last September, UT announced a $13 million surplus for the 2014-2015 fiscal year.
(© 2016 WBIR)