ATHENS — The University of Georgia athletic department ranks among the healthiest in the nation, according to a recently released USA Today financial report from the 2018 fiscal year.
Georgia ranked sixth in the nation in total revenue ($176,699,893) while reflecting $133,941,585 in “total expenses.”
However, quick math — and some misleading terminology — could lead to a misperception UGA stowed away more than $40 million in surplus.
Bulldogs athletic director Greg McGarity explained how the category the USA Today refers to as “total expenses” does not include money paid out for construction on the Sanford Stadium West End Zone project along with other sports facilities upgrades.
McGarity revealed that $67 million of the more than $176 million in revenue came from contributions while sharing insight into other numbers.
“This report illustrates that we are doing a good job fundraising, which allows us to pay for the facilities we are building,” McGarity told DawgNation.
“As for what we’re doing with the net number that’s reflected, which is about $44 million, approximately 95 percent is going to pay the contractors and architects — the money is reinvested into our facilities for projects that are in motion.”
McGarity said the USA Today chart also does not include the $4.5 million donation the athletic department gave back to the University of Georgia.
Among the operating expenses the USA Today does include in its “total expenses” category, McGarity and his athletic department proved thrifty where it came to coaching buyouts.
Georgia paid former basketball coach Mark Fox $1.19 million of buyout money in the fiscal year that ended June 30, 2018.
Comparatively, Tennessee paid out more than $13 million to coaches in severance payments in 2018, per a Knoxville News Sentinel report.
Nebraska, Florida, Arizona State, and UCA were all over $12 million in severance payments, greatly affecting their total expense numbers.
Georgia, however, led the SEC in recruiting costs ($4 million), with Alabama ($3.3 million) and Tennessee ($3.2 million) closely behind.
The Bulldogs remain in a facilities upgrade mode, working toward an $80 million football operations building.
Earlier this year, an EADA report also contained incomplete numbers that led to faulty perceptions and reports where Georgia financial budget numbers were concerned.
Top 20 Total Revenue
(Source: USA Today)
1. Texas $219,402,579
2. Texas A&M $212,399,426
3. Ohio State $205,556,663
4. Michigan $195,769,104
5. Alabama $177,481,937
6. Georgia $176,699,893
7. Oklahoma $175,325,500
8. Florida State $168,177,850
9. Penn State $165,373,214
10. Florida $161,183,765
11. Wisconsin $151,966,795
12. Auburn $147,620,569
13. Michigan State $145,640,289
14. LSU $145,422,796
15. Tennessee $143,545,115
16. Nebraska $142,223,226
17. South Carolina $140,084,150
18. Iowa $137,093,027
19. Louisville $134,155,908
20. Kentucky $$134,154,614