POSTED: 1:30 a.m. HST, Feb 15, 2011
The first independent audit of the University of Hawaii-Hilo athletic department in more than a decade showed a $291,396 profit, the Board of Regents was told recently.
The report by Accuity LLC, was for the fiscal year that closed June 30, 2010.
The Vulcans' positive finish was aided by $2.8 million in institutional support or about 81 percent of the department's $3.52 million in revenue.
Men's basketball was the sport with the biggest revenue production, earning $77,913, while baseball brought in $68,209, women's basketball $24,522 and women's volleyball $23,681. Each of the four had expenses in excess of $220,000.
The school's internal auditor said it was the first such audit since the late 1990s, according to a regents' spokesman. Because the NCAA requires more frequent reporting, the regents' Committee on University Audits and UH-Hilo Chancellor "concurred that a review be conducted annually until everyone was comfortable with the results," chair Howard Karr said in an e-mail.
UH-Manoa, which has run at an annual deficit for eight of the past nine years, received approximately 13 percent of its $29 million budget from the university in FY 2010, according to an independent audit.