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An attempt to increase FAMU Athletics budget authority to $11,188,735 million for 2019-20 failed yesterday in the Trustees Special Committee on Athletics after it was learned that athletics closed the 2018-19 year with a loss of just over $1 million. The loss was covered with a late transfer of $1 million from the “President’s discretionary fund”.
Some trustees lamented the idea of approving a budget, that would only dig a deeper hole for the university next year.
A question was raised about wether or not the discretionary fund dollars were dollars that could be used for academics? Because the funds were discretionary they could have been used for academics, scholarships, or just about anything.
A question was raised about wether or not the discretionary fund dollars were dollars that could be used for academics? Because the funds were discretionary they could have been used for academics, scholarships, or just about anything.
In the end, Trustees settled on a compromise 2019-20 athletic budget of $10.231 m, with a mid-year review for possible “course correction” if necessary. The athletic budget for 2018-19 was set at $9,828,653, however, by year end university officials had spent $10,003,653.