Loftin Releases Budget Numbers For A&M Athletic Department In 2010

COLLEGE STATION -- The Texas A&M Board of Regents is in College Station this week to crunch numbers. Back in March, the Texas A&M Athletic Department projected that it would close the books after the 2009 fiscal year with a deficit of $3 million.

The Division of Finance has worked with the Athletic Department staff and an external consultant hired by the 12th Man Foundation to identify potential budget savings.

These efforts have resulted in the Aggie Athletic Department reducing its fiscal year projections to a deficit of $1 million. Included in that projection is the repayment of a $4.46 million loan from the University.

According to budget reviews provided to News 3 by Interim Texas A&M President R. Bowen Loftin, the 12th Man Foundation has indicated preliminary approval to provide supplemental, one-time funding to offset any operating deficit remaining at the end of the 2009 fiscal year.

The A&M Athletic Department has proposed a 2010 budget that reflects an operating surplus of approximately $34,000, which includes $1.6 million in repayment of the loan.

Bowen says the Division of Finance will continue to provide direct oversight for the financial operations of the Athletic Department, which includes hiring practices, contract negotiations, capital improvements, review of non-delegated procurement and expenditures, monthly review of financial conditions, as well as routine contact with The 12th Man Foundation regarding their financial support for Athletics.

It was almost two weeks ago that Texas A&M Director of Athletics Bill Byrne announced that he and his staff was charged by the University to reduce the department's budget by $4.5 million. Byrne said the goal was to make spending cuts that would not impact the competitiveness of A&M's athletic teams.

''We were able to identify $3.5 million in cuts without reducing personnel," Byrne said at the time.

Unfortunately, on July 2, Byrne announced that the Athletic Department was eliminating 17 positions to balance the budget.

Byrne said the cuts came across the entire spectrum of the department.

The Numbers:

2008 A&M Athletic Department Actual
Revenues $73,231,625
Expenses $73,340,421
Operating Income less Debt ($108,796)

2009 A&M Athletic Department Projected Budget
Revenues $71,910,221
Expenses $66,344,308
Income $5,565,913
Operating Income less Debt ($1,002,151)

2010 A&M Athletic Department Budget
Revenues $66,839,400
Expenses $60,337,063
Income $6,502.337
Operating Income less Debt $33,890

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