December 6th, 2018 | by CollegeAD

The University of North Texas athletics department is more than $63.19 million in debt as of the end of the 2017 fiscal year, according to documents filed with the NCAA. The athletics department added $4,213,178 to the total department debt during the 2016-2017 school year. The $63 million overall debt of the department makes up 14.5 percent of the university’s overall debt — more than $435.6 million for UNT — and is paid on by the athletics department each year. Moving forward in fiscal year 2019, the athletics department will be paying $4,575,207.15 toward the overall department debt, according to the Budget & Analytics Department at UNT. This payment surpasses its annual debt service — or the required amount of principal and interest to be paid annually — by approximately $300,000. Out of the five departments at UNT that are self-financing and hold its own debts (auxiliary, parking, student services, athletics and the Coliseum), the athletics department is paying off the second most of its debt in 2019, trailing the auxiliary payment, which includes housing and dining halls. – Zach Cottam and Kiera Geils, North Texas Daily. Read More.

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