Posted at 1:20 p.m., Thursday, January 11, 2007
UH athletics report $7,000 profit for fiscal year
By Stephen Tsai
Advertiser Staff Writer
UH's Board of Regents today unanimously approved an audit of the athletic department's budget for fiscal year 2006. Accuity LLP, an offshoot of PricewaterhouseCooper, served as auditor.
For the fiscal year 2006, the athletic department reported revenue of $21,367,269, with expenses totaling $21,359,786.
Four of the programs were profitable — women's volleyball ($540,111), football ($434,523), men's basketball ($187,074) and men's volleyball ($29,144).
Women's basketball suffered the greatest losses ($739,535).
UH athletic director Herman Frazier said the new television contract with K5 and the implementation of the premium-seating charges led to the surge in revenue.
The report showed UH has an accumulated debt of $876,592 incurred from those four years of negative budget. Profits are directed to UH's general fund to pay off that deficit.
Reach Stephen Tsai at stsai@honoluluadvertiser.com.
