Audit of LSU Athletic Dept reveals overspending
BATON ROUGE - A recent audit of the LSU Athletic Department revealed that it overspent by thousands of dollars.
The Louisiana Legislative Auditor's office reports the department made purchases that amounted to $157,540 more than it brought in for the fiscal year of 2020.
State officials say an auditor combed through information in LSU's Statement of Revenues and Expenses and found that the athletic department's total expenses amounted to $160,591,015 in comparison with the $160,433,475 it amassed in total revenue.
The football program reportedly generated the most revenue, with a total of $95,063,116, and, after expenses of $41,403,966, netted $53,659,150.
All of this amounted to a decrease of nearly $3 million from the fiscal year of 2019.
Click here to view the full report from the state auditor's office.
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