HONOLULU — The University of Hawaii at Manoa athletic department nearly broke even during Fiscal Year 2022, its most recent figures showed, but its financial landscape remains challenging for future years.
UH projected in early June that its deficit for the fiscal year ending June 30 would come in at about $400,000, or $42 million in revenue to $42.4 million in expenses.
What You Need To Know
The University of Hawaii at Manoa projects a $400,000 net deficit for its athletic department for Fiscal Year 2022, a figure that will be checked in a December audit
UH, like the majority of NCAA Football Bowl Subdivision athletic departments, has typically operated in the red in most years
That included about $9.7 million in federal aid meant to reimburse net revenue losses due to the COVID-19 pandemic – nearly a quarter of UH Manoa’s $42 million athletics budget
Athletic director David Matlin said COVID difficulties notwithstanding, the budget has trended in the right direction the last few years and he is optimistic on revenues without pandemic restrictions for the 2022-23 athletic calendar
However, that was with about $9.7 million in federal aid meant to reimburse net revenue losses due to the COVID-19 pandemic – nearly a quarter of UH Manoa’s athletics budget. That outside support will not repeat in FY2023.
