As required by the NCAA, the University of Georgia released its financial information for the 2020 fiscal year. While it seemed amid the coronavirus pandemic and for a period of time a global shutdown, revenue would fall. However, Georgia still ranked among the top universities around the country and outperformed expectations.
A lot of this is a direct reflection of the university's boosters and fans. It was Bulldog Nation as a whole that played a major role in supporting the university during one of the strangest times in modern American history. Some programs around the country had to cut off their football programs, and while this would never be a concern for Georgia, the additional revenue helps to pay for things like scholarships and facility upgrades.
Here is the full press release from Claude Felton, senior associate athletics director at Georgia:
“Despite reduced revenue last year, the unwavering support of our fans and donors, coupled with the disciplined financial practices of our coaches and staff, has put the UGAAA in the black which is detailed in this report,” said Stephanie Ransom, UGA deputy athletics director for finance. “While the NCAA Membership Financial Report is straightforward, it is important to understand that the NCAA distinctly defines both revenues and expenditures, so our positive balance is not a simple net amount.
"We are extraordinarily fortunate to have been able to operate this year without some of the drastic cost-cutting measures our peers had to employ. Our leadership team, coaches, and staff did a tremendous job adhering to our mission-critical spending strategy to limit financial pitfalls during the onset of the global pandemic. We will continue to be fiscally prudent to ensure we maintain a healthy financial outlook.”
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