January 20th, 2019 | by CollegeAD

North Carolina’s athletic department surpassed $100 million in annual revenue and expenses for the first time during the 2017-18 fiscal year, finishing with a surplus of more than $2.1 million. The data comes from the revenues and expenses report that the school submitted to the NCAA this month. UNC finished the fiscal year, which ran from July 1, 2017, through June 30, 2018, with total operating revenue of $104,571,404 and total operating expenses of $102,430,558. The numbers are increases from $96,551,626 in revenue and $96,540,823 in expenses — a surplus of $10,803 — for the 2016-17 fiscal year. UNC produced duplicate revenue and expense figures of $95,175,985 in 2015-16 after averaging $229,000 of surplus revenue per year in the four years prior to that. The athletic department’s revenue increased for the eighth consecutive year in 2017-18. The 8.3-percent growth in revenue was UNC’s largest since a 9-percent rise in 2011-12. -Nolan Hayes, 247Sports. Read More.

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