Regent Marty Dickinson noted that in talking with key legislators, questions about the structure of the athletics budget and whether it will operate in a deficit moving forward have arisen, as well as questions about the source of institutional support dollars for athletics. Regents peppered presenters with questions related to how leaders are analyzing the causes of cost overruns, a process that remains ongoing, as well as plans to address the current deficit.įaculty representative Judi McDonald spoke to concerns among faculty about cuts being made to units and departments across the system at the same time the athletics budget is increasing. No state funds or tuition dollars are being used for that new institutional support. This support was approved more than 18 months ago by the Board of Regents, with the source coming from central revenue streams, largely interest revenue. We do more with less resources, it’s been well documented by people that cover us.”Īs part of the fiscal year 20 athletics budget, the university is providing $1.4 and $2.4 million respectively in new institutional support. We take pride (in the fact that) we are the most fiscally efficient athletics program in the country. WSU is also facing uncertainty in its budgeting beyond fiscal year 2024 due to the unfinished nature of the Pac‑12 Conference’s new media rights deal, something Schulz said he expects to be resolved by the end of June.Ĭhun continued, “This year, it is our belief it is an aberration, I think we’ve proven it over time that we have been fiscally responsible. That’s going to impact us, but you don’t see that reflected in some gross inflated number in FY 25 and beyond.” “We do see a pathway forward with what the next TV deal is (and with) Kirk personally worked on the college football playoff expansion. “We made a decision as an institution over a decade ago based on a failed vision,” Chun said. Many of the challenges WSU Athletics has faced in recent years date back to budget projections provided to the university by the Pac‑12 Conference under a previous administration.
Budgeting household expenses professional#
The Athletics Department is taking several steps to resolve the issues, including a freeze on hiring, halting non-essential travel and purchases, pausing new professional development and adding additional checks on expenses and purchases.Īs a result of these challenges, Regents voted to approve the budget adjustments and athletics budget transfers for fiscal year 2023 in compliance with state law, as well as approving the athletics budget for fiscal year 2024.Īs the Pac‑12 Conference works towards a new media rights deal, the board also voted to give President Kirk Schulz or his designee the authority to assign media rights. “We have and will continue to make any and all necessary adjustments and changes.” “We must do better, and we will,” Chun said. Additional fiscal oversight by the university is also being imposed. Fiscal responsibility has been and continues to be a key for the department moving forward. He went on to note that WSU Athletics achieved its first balanced budget in more than a decade in fiscal year 2022 after years of persistent challenges. “Ultimately as the leader of our department, I am responsible for what occurs under my watch and I own any of our current financial challenges.”
“Throughout this process, we have been committed to seeking the truth to determining where we stand, how we got here, and then being transparent about all of it,” Chun said. The department is anticipating an $11.5 million budget deficit for fiscal year 2023 due to a combination of Pac‑12 Conference and other revenue shortcomings as well as departmental expense overruns. The Washington State University Board of Regents voted to take several actions related to the budget shortfalls being experienced by the Athletics Department during its June 9 retreat.Īthletics Director Pat Chun opened the meeting by speaking to the budgetary issues that have come to light in recent weeks.
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