PULLMAN, Wash. — In a written statement, Washington State University President Kirk H. Schulz addressed the financial challenges the school's athletic department will be facing in 2023.
Shulz says each Pac-12 university will see a significant decrease in revenue distribution due to overpayments from a conference media partner. In addition, relocation of the Pac-12 headquarters out of San Francisco exceeded budget projections.
Lastly, the president said Cougar Athletics exceeded its expenditures for the year due to "inadequate documentation of revenues and expenses."
According to the statement, Director of Athletics Pat Chun said that immediate actions will be taken to help offset the projected deficit, including a temporary freeze on current and future positions, non-essential travel and new professional development.
"My fiscal expectations for Cougar Athletics remain the same — an annual balanced operating budget, the development of appropriate reserve funds, and a repayment plan to pay down internal debt," Shulz said in the letter. "As planned, we will also continue to engage in conversations with the Athletics Council in the fall around repayment of accumulated debt."
Shulz says he and the department "remain committed to transparency about the Cougar Athletics budget" and "improving the fiscal health of the university."
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