UM’s athletic finances improve with winning teams, budgeting

MISSOULA — The University of Montana athletics department expects to retire its debt a year earlier than expected, a move that should allow the school to reduce student athletic ticket fees for the fall of 2005.

Officials said revenue generated by championship athletic teams and leaner budgeting are whittling large chunks from the $1 million deficit.

“… We are up over $300,000,” said Bob Duringer, UM’s vice president for administration and finance.

UM hopes to apply an additional $200,000 to the $195,000 the university and Board of Regents agreed to commit to reducing the deficit during the 2004-2005 academic year.

That would allow UM to retire the deficit a year earlier than scheduled, and close out the deficit in 2008, rather than in 2009, Duringer said.

It also means UM can lower student athletic ticket fees from $7 to $4 this fall, and possibly eliminate the cost completely and return to free student game tickets by 2006. Also, $100,000 of the unpredicted revenue will give the athletic department a maintenance and repair account.

“Several things have flowed together to make this happen,” Duringer said. “The men’s and women’s teams did magnificently, and all revenues were up in all categories.”