KNOXVILLE, Tenn. — Tennessee is 5-0 for the first time since 1998, and the No. 9 Volunteers football team is building on a fantastic year for the entire athletic department in 2015-16.
The Tennessee athletic department reported total operating revenues of $136.2 million over total operating expenditures of $124 million — netting a $12.2 million surplus for the fiscal year ending on June 30, 2016.
In a press release, the athletic department cited “a record year in fundraising,” with $30.7 million in donations. The report also recognized “notable revenue increases in the areas of football ticket sales, trademark licensing royalties (e.g. Nike merchandise sales), and Southeastern Conference distributions.”
“As stated from day one, a successful athletics department must be financially stable and healthy,” outgoing athletics director Dave Hard said in a release.
“We have once against delivered on a balanced fiscal approach which as invested in our student-athletes, improved our facilities and increased our reserves. The incredible support from our fans and donors, along with the football program’s continued upward momentum, have been paramount in rebuilding our financial picture.”
Hart also noted that Tennessee’s reserves have increased to $18.4 million, with $5 million designated for facility improvements, including “new scoreboards for softball, baseball, and soccer.” As well as “new improvements to Dr. Robert L. Barksdale Tennis Stadium.”
Tennessee has set its 2016-17 fiscal year budget for $129.5 million.