Friday, January 13, 2017

FAMU AD Overton cuts spending, fundraising for Bragg begins

TALLAHASSEE, Florida -- There’s still work to do – and funds to find – but Florida A&M Athletic Director Milton Overton Jr. is chipping away at the nearly $1.3 million he needs to cover both a projected 2016-17 budgetary shortfall and repairs to Bragg Memorial Stadium.

Friday, during a BOT budget, finance and facilities committee conference call, FAMU CFO Wanda Ford said Overton reduced spending for the 2016-17 fiscal year by eliminating department positions and reducing administrative travel expenses. He also secured $200,000 from the NCAA.

The measures mean the athletics department is now projected to fall $237,442 short of its $8,937,500 budget – down from the $651,724 shortfall projected in a December meeting of the committee.

Per a presentation given to trustees, Overton saved $177,282 by eliminating mostly part-time positions and by not hiring an additional compliance officer – the salary for that position would have been $55,000. In a phone interview after the meeting, Overton said the $200,000 from the NCAA was a “one-time” payment.

FAMU needs $622K for mandatory repairs to Bragg Stadium.


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