With improved ticket sales for home football games and increased revenue from the Big Ten, University of Iowa athletic department officials will present the Iowa Board of Regents with a budget Monday that tops $100 million for the first time.
According to documents filed with the Regents last week, Iowa’s athletic budget for the 2017 fiscal year which began on July 1 is $102,125,415, representing an increase in revenue and expenses of approximately $5.4 million over the athletic department’s budget of $96,715,000 for the 2016 fiscal year.
With this year’s increase, Iowa joins seven other Big Ten athletics programs with budgets in excess of $100 million annually.
The bulk of the nine-percent growth in revenue Iowa anticipates collecting relates to an increase in revenue from football season ticket sales and from a tiered pricing structure being implemented on single-game football tickets this season.
Iowa raised season football ticket prices $10-20 and has already sold more than 5,000 additional season tickets to the general public over the total number that were purchased a year ago.
Student and faculty-staff season ticket sales numbers have also increased by approximately 1,500.
“With success comes enthusiasm and expectations and we’re seeing that translate into ticket sales,’’ Iowa associate athletics director of external relations Matt Henderson said.
Thursday, the school began selling single-game tickets priced at four levels between $55-85 depending on the opponent. In past years, Iowa single-game tickets have typically been sold at two price points, typically not varied by more than $10.
In total, Iowa anticipates football income of $24.2 million, up from $19.7 million a year ago, with expenses of $23.1 million in the sport.
Football expenses at Iowa in 2016 were $23.6 million, $2 million over what was budgeted.
The overage was created by additional expenses incurred because of the Hawkeyes’ success following a 12-0 regular season, dollars spent to cover costs associated with competing in the Big Ten Championship game for the first time and a Rose Bowl berth for the first time in 25 years.
Some of those dollars were recouped in unbudgeted growth from the sale of novelty items such as Big Ten Championship Game and Rose Bowl t-shirts, caps and mementos. Iowa earned $4.1 million from those sales, $855,612 over projected revenue for 2016.
The Hawkeye wrestling team’s Grapple on the Gridiron event — an outdoor dual against Oklahoma State at Kinnick Stadium — helped that program generate $881,875, well over the $550,000 in revenue it was budgeted to create but still below the $1,431,409 Iowa spent on its wrestling program in 2016.
Iowa also spent $6.1 million on men’s basketball, more than $300,000 over its budgeted figure and nearly $4.1 million on women’s basketball, under its allotted budget by $64,710.
In addition to growth in football revenue in 2017, Iowa anticipates its income from the Big Ten to increase from $33.5 million to $34.4 million and the school expects dollars received from its Learfield Sports multi-media contract to grow from $6.4 million to $7.4 million.
Iowa is also counting on growth in the dollars it receives from donors. The UI Foundation provided $14,385,614 in support in 2016 and is anticipating revenue of $15,253,646 during the 2017 fiscal year.
Operating 24 intercollegiate programs, the Iowa athletics department is self-sustaining and receives no general university funds.
The budget does include $650,000 in student fees which is used to fund debt service on Student Recreation Services facilities that were financed through the athletic department.
Iowa’s budget also includes $21.5 million the athletics department anticipates paying to other university departments, including Public Safety, University of Iowa Hospitals and Clinics, parking, scholarships, utilities, university business services and residence services.
Among Iowa’s three Regents institutions, only Iowa State is budgeting for lower revenue than it earned during the 2016 fiscal year.
Combined, the state’s three public universities anticipate budget revenues of $188,543,936 during the 2017 fiscal year.
Iowa State’s anticipated revenue of $72,400,561 is a drop of $1,737,655 from the previous fiscal year and much of it has to do with not having home football and basketball games against Iowa.
ISU expects to receive $32.2 million in Big 12 and NCAA revenue and will offset the anticipated ticket sales drop and higher administrative operational expenses related to changes in the football and men’s basketball staff with additional financial support from the ISU Foundation.
Iowa State had budgeted for $727,000 in administrative operations in 2016, but ended spending $1.37 million following head coaching changes in football and men’s basketball.
The Iowa State athletics department is also self-sustaining and receives no general university funds. The department anticipates paying $20.8 million to other university departments.
Northern Iowa anticipates revenues of $14,017,960 during the upcoming year, an increase of $495,639 from its 2016 revenue estimates.
UNI does not receive substantial revenue from conference distribution and other sources, but is budget to receive $4.35 million in support for scholarships and operations from the university’s general fund during the 2017 fiscal year.
Northern Iowa is budgeted to pay other university departments $4.4 million during the upcoming year to cover tuition and room and board from scholarship payments, business services, public safety, marketing and utilities.