Florida A&M athletics department’s finances are in the green.
At Thursday’s Board of Trustees committee and board meeting, FAMU Acting Athletics Director Michael Smith reported that the department is projected to have a fund balance of $1,020 for the 2023-2024 operating budget period.
Smith added that FAMU has ended the fiscal year with a balanced budget for the sixth consecutive year.
“For the 23-24 operating budget, we’re projected to have a fund balance of $1,020,” Smith told FAMU’s Board of Trustees.
“For six years, we’ve brought in a balanced budget. So, we’re very excited about the opportunity to do that. There was a lot of coordination between multiple stakeholders within the enterprise. So, it was not something we did alone.
“We did it with all of you. And we appreciate the support.”
Smith’s announcement comes after former FAMU Vice President and Director of Athletics Tiffani-Dawn Sykes reported a $817,000 budgetary deficit in January . Sykes departed from FAMU on Aug. 13.