<p>Total revenues were $57.6 million. I believe that includes annual gifts to the athletic program. </p>
<p>I'm not sure whether or not the $48 million in expenses includes the $12 million in athletic scholarships. The federal reporting says that scholarship expenses may be included in total expenses.</p>
<p>I'm glad when a football program turns a profit. It's almost like having a professional sports team that invests some of its revenues in education!</p>
<p>Personally, I think the entire system would be better off with a professional model: each school hires professsional athletes to wear the school's colors. Drop the charade that the top Div 1 revenue sports are stocked with "scholar-athletes". It would be a much more honest system.</p>