Overton recently informed the FAMU Board of Trustees that the department finished the 2016-2017 fiscal year with a $9,500 surplus.
“We implemented several initiatives to reduce spending and increase revenues,” Overton said. “Not the least of which was re-commissioning the department-owned bus which had gone unused for several years. The instituting of this singular initiative realized a savings of over $100,000 in itself. In addition, we increased revenues. The department successfully raised over $1 million this fiscal year, contributing to the balancing of the budget.”
If the athletics department continues in its current direction, it could repeat the financial success FAMU experienced under Riley.
Riley, who started serving as FAMU’s athletic director in 1994, left the department with an estimated surplus of more than $3 million when he stepped down in 2002.