The Georgia Bulldogs Athletics Department has just released its Financial Report System (FRS) report for the 2020-2021 fiscal year. And according to their press release, the Bulldogs had a surplus of $46 million from that year.
The Georgia Athletics Department routinely publishes their financial report annually. According to the Bulldogs Athletic Director, Josh brooks, this does not give the complete picture of the Bulldogs’ finances.
“As we indicate every year, the NCAA membership financial report is straightforward, but distinctively defined revenues to include non operating funds related to capital projects and interest income from investments but excludes operating department contributions to the university and non operating current capital project expenditures. Therefore the balance shown does not reflect the full financial picture,” said Brooks.
The report continues to break down Georgia’s reported operating revenue from 2021, which came back as $169,064,656. The operating expense was reported as $122,722,893, leaving a difference of $46,341,763. The FRS report finishes off the explanation by breaking down where the $46 million was allocated within the program.
Brooks finished off his statement on the report by thanking fans and donors of the team and many others for the strong year despite dealing with the COVID-19 pandemic.
“UGAA made significant adjustments to operations during FY2021 because of the COVID-19 pandemic. however because of the commitment of our fans and donors, and the support from our coaches, staff, student athletes, and the Southeastern Conference, UGAA was able to finish the year strong. we will continue to be fiscally prudent as we move forward in the post pandemic collegiate athletics landscape,” closed Brooks.
At the time of the report’s release, Georgia was the last Power-5 conference school to release their FRS report. The other schools release their NCAA revenue and expense reports for the 2021 school year sometime before mid-April. Although it took some time, Georgia has finally revealed the information four months after it was due.
Georgia Athletics was able to pull in $46 million despite dealing with the struggles related to the COVID-19 outbreak. If the Bulldogs’ Athletic Department can effectively manage their funds within a crisis year, to the tune of nearly $50 million, it will be interesting to see what their FRS report for the 2021-22 fiscal year looks like.