Sunday, November 29, 2015         

 Print   Email   Comment | View 43 Comments   Most Popular   Save   Post   Retweet

UH-Manoa to tackle $13M debt from athletics department

By Ferd Lewis

LAST UPDATED: 12:47 p.m. HST, May 16, 2013

The University of Hawaii Board of Regents today approved a slate of changes calculated to help bring the financially struggling Manoa athletic program back into the black and provide additional oversight.

The Manoa Chancellor's office will absorb the $13 million accumulated net deficit, help funding of some athletic staff positions and allow the department to recruit out-of-state and foreign athletes at in-state tuition rates.

In addition, regents will convene a committee on intercollegiate athletics to oversee the department.

The actions were unanimously approved by the 15-member board.

Athletic director Ben Jay said he hoped the changes could help the department be solvent by the completion of fiscal year 2014, which concludes July 1, 2014.

The athletics department is expected to close the current fiscal year, which winds up June 30, 2013, as much as $2 million in the red, with an accumulated net deficit of $13 million.

Manoa Chancellor Tom Apple said he will retire the accumulated net deficit by moving, "this debit from the athletics account to the Manoa Chancellor's Office using non-academic sources such as interest and working capital to pay this off over time."

Apple said, "no tuition dollars will be used."

 Print   Email   Comment | View 43 Comments   Most Popular   Save   Post   Retweet

You must be subscribed to participate in discussions