The University of Michigan's athletic department had a surplus of roughly $11.6 million during the 2020 fiscal year, according to a detailed financial report obtained by USA Today.
The department generated $192,403,168 in total operating revenues and $180,841,523 in total operating expenses.
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The 2020 fiscal year began in July 2019 and ran through June 30, 2020, according to the university's listed cutoff dates. The athletic department has estimated that it could face a budget deficit of up to $80 million during the current fiscal year, due to the impact of the pandemic, and slashed 21 jobs within the department last fall.