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VOL. 42 | NO. 4 | Friday, January 26, 2018
Tennessee athletics has $10.8 million surplus in 2016-17
KNOXVILLE (AP) — Tennessee's athletic department has reported a $10.8 million budget surplus for the 2016-17 fiscal year.
Budget information for the fiscal year that ended June 30 was obtained Monday through a public records request. Tennessee reported $134.9 million in expenses and $145.7 million in revenues.
Tennessee athletic department spokesman Tom Satkowiak said the school utilized the surplus by contributing $5 million to the Neyland Stadium renovation project and $5.8 million for ongoing facility projects such as the expansion of the Haslam football practice fields, exterior painting for Neyland Stadium and stadium scoreboards for soccer, softball and baseball.
The school is planning a two-phase, $340 million renovation of Neyland Stadium. Plans call for the renovation to be funded by donations, the athletic department's operating revenue, corporate partners and budgeted debt service.