TALLAHASSEE, Florida -- How do you make a sea of red ink disappear?
Simple: You cover it with black ink.
That is essentially what Florida A&M’s Budget and Finance Committee endorsed Wednesday for addressing an estimated $2.2 million deficit in athletics for the current academic year.
Following a plan proposed by Ronica Mathis from the budget division, FAMU will use more than $2 million in earnings on investments in scholarship funds to cover all athletic scholarships for the 2012-2013 school year. It would give the university a $645,000 surplus in athletics going into the coming school year, Mathis said.
Florida statute allows the university to use earnings on investments for scholarships, she said.
FAMU’s intercollegiate sports programs have lost ...
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