Report shows improvement in Kansas Athletics’ finances
LAWRENCE, Kan. (AP) — The athletic department at the University of Kansas is reporting a profit after two straight years of financial losses.
The Lawrence Journal-World obtained the auditor’s report for Kansas Athletics Inc., a nonprofit corporation wholly owned by the university. It shows operating income of $4.3 million for fiscal year 2019. Kansas Athletics had an operating loss of $82,000 in fiscal year 2017 and an operating loss of $1.6 million in fiscal year 2018.
Operating revenue — everything from ticket sales to contributions — rose 11 percent, to $114.7 million. Operating expenditures also grew, but not as much as revenues.
The newspaper says much of the new spending went to the football program. Athletic Director Jeff Long, who began his job in August 2018, started a fundraising drive to boost football spending.
Information from: Lawrence (Kan.) Journal-World, http://www.ljworld.com