DIVIDEND: Razorback sports bring more money for general campus use.
The football team is off to a rocky start, but the University of Arkansas at Fayetteville
is nonetheless getting an added financial bonus from athletic efforts.
A university spokesman tells me that the Athletic Department
has responded to Chancellor Joseph Steinmetz's
push for a greater share of department revenues with campus general purposes. It has increased the revenue-sharing with the campus by $1 million, to $4.2 million this fiscal year. This, spokesman Mark Rushing said, is for "general funding to campus and funds for specific campus programs and positions that support athletics." I've asked for more specific information on the allocation of the $4.2 million.
The department brings in more than $100 million a year, a significant amount from
a TV contract for SEC sports, particularly football, plus private contributions.
UPDATE: Further details from Rushing:
The $1 million increase in the amount of funding that the Department of Athletics provides to the university occurred in FY17, so Razorback Athletics provided more than $4.2 million in general funding to campus and funds for specific campus programs and positions that support athletics in FY17. The athletics budget for FY17 was $108.9 million.
Of the $4.2 million total, Athletics provided $3,240,000 in general funding to campus. Those funds supported:
Debt service for the Nanoscale Material Science and Engineering Building ($1 million annually)
Debt service for Champions Hall ($1.25 million annually – covering about 80% of the debt service for this general classroom building over time)
The Chancellor’s Innovation and Discovery Fund and other chancellor directives ($950,000)
A contribution to support associated student government initiatives on campus ($40,000)
The rest of the $4.2 million total that athletics provided ($1,022,500) was utilized in support of programs and positions supporting athletics including:
The university band ($650,000)
Staff positions ($287,000 for eligibility and general counsel positions)
Programs ($67,500 for the athletic training program and $18,000 for the sports turf program)
In addition to the $4.2 million detailed above, Razorback Athletics provides significant discounts for faculty and staff season ticket packages and ticket discounts for various campus events like the university’s annual family weekend.