UK Athletics Board Approves 2009-10 Operating Budget
May 11, 2009
LEXINGTON, Ky. (May 11, 2009) – The University of Kentucky Athletic Association (UKAA) Board of Directors today approved an operating budget of $72.65 million for fiscal year 2009-10.
The UKAA, which is 100 percent self-supporting and receives no state or university funds, supports the broadest program in the Southeastern Conference - 22 varsity sports - with an athletics budget that places UK in the mid-range of SEC schools.
In the new fiscal year which begins on July 1, UK Athletics will donate an additional $500,000 to campus academic scholarship programs. This is on top of the $1.2 million annually that the UKAA has contributed toward the university's general scholarship fund and in support of UK's Singletary Scholars program, bringing the total to $1.7 million in the coming academic year.
"I continue to be pleased with the financial commitment that UK Athletics makes toward our academic program," said UK President Lee T. Todd Jr. "This is especially impressive and welcome given the economic environment we currently face."
Rob Mullens, deputy director of UK Athletics, reported to the board that increased revenues from the Southeastern Conference's new television rights contract with ESPN and CBS Sports, will help the department be able to offset increased expenses in the coming year. These expenses include the increased costs of athletic scholarships, which the department directly pays to the university, as well as increases in the costs of team travel, utilities, and health insurance, among others.
"We spend approximately 25 percent ($18 million) of our self-supporting budget back on campus and we are happy to be able to do so," said Mullens. "UK Athletics appreciates the support of our great fan base which enables us not only to grow the competitiveness of our teams and provide great opportunities for our student-athletes, but also gives us the chance to make very real and significant contributions toward the overall success and betterment of this great university."