Athletics expects to end budget year in the "black", but there is no room for error

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Revenue for FAMU’s football/basketball season ticket sales were off by 39.5% for the FY 21/22 year, according to the most recent budget submitted to the Board of Trustees.   Athletics had expected to sale $400,000 in football/basketball season tickets this year, but ended up brining in only $158,283.

FAMU had also expected to bring in $800,000 from the Florida Classic, but actually received (as of 5/27/22) $498,037, off by more than $302,000.

 

Revenue from athletic Direct Support Organizations---the National Alumni Association, Booster Club, FAMU Foundation, 220 Quarterback Club, Rattler F Club, and others--- was off by $270,244.  Athletics had expected to receive 662,808, but has only received $329,564 so far. This revenue is down by $102,921 from last year.

 

On the bright side, athletics exceeded its budget projections for Investing in Champion revenue by $19,927, bringing in $796,927 on the $750,000 it budgeted. Football gate receipts also exceeded expectations by $329,419, bringing in $829,419 against the $500,000 budgeted.

 

All-in-all, athletics expects to end its budget year with a $4,315 surplus, a significant decrease from the $238,677 surplus it had projected.