KU Athletics budget will increase to $93.3 million next year
University of Kansas Athletics expects its budget to increase to $93.3 million next year.
The Kansas Athletics Inc. board of directors on Tuesday approved the proposed KU Athletics budget for fiscal year 2018. KU Athletics’ 2018 budget of $93.3 million is roughly 3.5 percent higher than the previous year’s budget, Kansas Athletics CFO Pat Kaufman told the board.
The additional money is primarily attributed to an anticipated “modest” increase in revenues from ticket sales for all sports, as well as donations, Kaufman said.
KU Athletics’ other main revenue source is conference disbursements, including NCAA and Big 12 revenues.
“We’re going to reinvest (additional revenues) primarily, in our sports,” Kaufman said.
He said one focus area would be coaching salaries, many of which fall low on the list compared with peers. Kaufman said a goal is raising salaries to the middle or top-third of peers.
Travel costs will “hold the line” in 2018, and football will have one fewer road game, Kaufman said.
Kansas Athletics Inc., which manages and oversees intercollegiate athletics for KU, is a university-controlled affiliate corporation of KU. The two entities have separate budgets.
Kaufman said KU Athletics is operating on budget for fiscal year 2017, with a few months remaining in the year.