TALLAHASSEE, Fla. (June 23) – Florida A&M Athletics rolled out it's 2016-17 annual report with much fanfare. The informative and graphic-laden report drew praise from the FAMU Board of Trustess at the June meeting, as FAMU Director of Athletics, Milton Overton Jr., announced that the department finished the fiscal year not only with a balanced budget, but with a $9,500 surplus.
“We implemented several initiatives to reduce spending and increase revenues. Not the least of which was re-commissioning the department-owned bus which had gone unused for several years. The instituting of this singular initiative realized a savings of over $100,000 in itself. In addition, we increased revenues. The department successfully raised over $1 million this fiscal year, contributing to the balancing of the budget,” Overton said.
It is the first time in over a decade that the Department of Athletics' budget had been balanced without a subsidy from the university.
The report also applauds the efforts of the women's athletics teams who won the Mid-Eastern Athletic Conference's (MEAC) Mary McCleod Bethune All Sports Award for the best program in the conference. Led by the women's cross country team's fifth consecutive championship and fourth consecutive championship by the Lady Rattler Softball Team, the women's sports won the award and a $20,000 bonus.
The report also touted improvements to many of the operational procedures of the department. By automating and digitizing processes, multiple facets of the department were centralized and accessible digitally by coordinating arms of the department.
“What these numbers tell us is that our business is in good shape. Our projections for our five year plan tell us that if successful, we could start seeing increased profitability in the near future. What do we expect from a healthy athletics department…WINNING,” Overton joyfully said.
See the interactive presentation in its entirety here: FAMU ANNUAL REPORT