Former Texas athletic director Steve Patterson squeezed every dime he could because the Longhorns were operating in the red. The moves worked, apparently. According to an audit by Austin accounting firm Maxwell, Locke & Ritter, the Longhorns balanced the budget during the 2014-15 academic year and finished in the black — by a mere $458,367. The Texas athletic department had a $2.8 million deficit for the 2013-14 academic year before Patterson arrived. Athletics has a huge reserve, so any deficiency can be glossed over. The department’s current reserve totals sits at approximately $28.6 million. – Hookem. Read More.
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