LSU Athletic Department Contributes $4M To The School

July 24, 2012 /

The Times-Picayune, Albert Burford

http://www.nola.com/lsu/index.ssf/2012/07/lsu_athletic_department_contri.html

The LSU Athletic Department is contributing $4 million to the University in order to assist with budget challenges in the 2012-13 fiscal year.

The transfer is the largest contribution from Athletics to Academics in LSU history.

Chancellor Mike Martin announced in an email to LSU faculty and staff on Friday that the University would avoid any layoffs or across-the-board budget restriction, in large part because of the contribution from the Athletic Department.

The Athletic Department will also take financial responsibility for the Cox Communications Academic Center for Student-Athletes at the rate of about $1.5 million per year.

“It is important for Athletics to play a role in the central mission of a university, and LSU Athletics is in the unique position to provide this financial support in a time of budgetary need,” said Joe Alleva, Vice Chancellor and Director of Athletics. “Only a handful of athletic departments in the nation operate using no state tax dollars and no student fees, but to be able to make a contribution of this magnitude is unique and a real credit to LSU’s fans and alumni who support the Tigers and to the coaches and student-athletes whose commitment to excellence translates into continued success.”

In addition to the one-time $4 million contribution, the department annually transfers $6 million in funds for administrative services provided by the University, a Chancellor’s Excellence Fund, a campus beautification fund, and a campus building fund.

Read more here: http://www.kentucky.com/2012/07/22/2267363/central-kentucky-schools-begin.html#storylink=cpy