Post by CrimsonPhantom on Jul 19, 2017 9:36:06 GMT -7
LAS CRUCES — For the second straight year, the New Mexico State athletics department will finish the fiscal year with a balanced budget.
Due to some unforeseen circumstances, Athletic Director Mario Moccia’s department may even yield a modest surplus as they close the books on fiscal year 2017.
“We should know pretty soon what the surplus will be, but it has always been going toward the deficit,” Moccia said. “Some of it will still go to the deficit, but we have created, for the first time, a vehicle that we can put monies in there for a true reserve account. The reality is that we wouldn’t have this if it weren’t for $575,000 in coaches buyout money.”
The university received a $70,000 buyout from USC after women’s basketball coach Mark Trakh left in the off-season, and it remains unknown exactly how much former men’s basketball coach Paul Weir owes after leaving for UNM after one year, but NMSU expects either $325,000 or $500,000.
Due to some unforeseen circumstances, Athletic Director Mario Moccia’s department may even yield a modest surplus as they close the books on fiscal year 2017.
“We should know pretty soon what the surplus will be, but it has always been going toward the deficit,” Moccia said. “Some of it will still go to the deficit, but we have created, for the first time, a vehicle that we can put monies in there for a true reserve account. The reality is that we wouldn’t have this if it weren’t for $575,000 in coaches buyout money.”
The university received a $70,000 buyout from USC after women’s basketball coach Mark Trakh left in the off-season, and it remains unknown exactly how much former men’s basketball coach Paul Weir owes after leaving for UNM after one year, but NMSU expects either $325,000 or $500,000.
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