July 2018
We are rapidly reducing the annual operating deficit in athletics—a critical
first step in addressing the cumulative debt. The graph below shows that we will
finish the just-completed fiscal year with a deficit of about $8.8 million,
an improvement of $4.2 million compared to annual deficits in excess of
$13 million just two years ago. We project that we will continue to
increase revenue to bring our annual operating deficit to less than $6 million
for the next fiscal year.
