The LSU athletic department will transfer more than $10 million back to the University, athletic director Joe Alleva announced Monday.
LSU is one of only a few universities in the country that annually gives money back to the academic side of the school. LSU usually donates $7.2 million, but a surplus in this year's budget increased the total given back to $10.05 million.
LSU has contributed a total $43.5 million over the last five fiscal years.
“Our athletic department is sincerely committed to supporting the academic mission of the university, and we’re extremely proud to transfer over $10 million this year,” Alleva said in a press release. “These funds provide vital resources for our students, faculty and staff, and they help to sustain LSU as one of the top research institutions in the country.”
The money donated by the athletic department contributes to LSU's academic, research, public service and other missions. The surplus funds will be used for one-time instructional, research and student endeavors, such as awards to outstanding faculty, classroom/laboratory construction and renovation, and student support, according to the press release.
“This surplus comes on the heels of an extremely challenging budget year, and the real beneficiaries will be our students, “ said LSU President F. King Alexander in a statement.
The LSU athletic department also pays the University $13.2 million each year for student-athlete scholarships.
Athletic Dept. to give $10 million to LSU
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