KNOXVILLE — Tennessee’s athletic department reported a $13.1 million surplus for the 2014-15 fiscal year, thanks in part to record fundraising and the launching of the SEC Network.
In budget information released Friday, Tennessee reported revenues of $121.8 million and expenses of $108.7 million. Revenues included $7.5 million from the Southeastern Conference related to the SEC Network plus a one-time $2 million bonus from Nike, the school’s new apparel provider.
The Knoxville News-Sentinel first reported the information.
Tennessee reported a record $28.2 million in unrestricted cash donations.
The school is transferring $9.3 million of its surplus to fund ongoing capital projects.
Tennessee reported reserves of $6.9 million. Athletic department spokesman Ryan Robinson said the reserve last year was about $3 million. UT said its reserve remains the lowest in the SEC.comments powered by Disqus