The University of Oklahoma athletic department on Wednesday announced budget cuts totalling approximately $13.7 million as a result of the global pandemic.
The cuts include a 10 percent salary reduction for employees who make at least $1 million per year, and also include the costs of testing and other measures involved with dealing with COVID-19.
Financial aid, scholarships and services to student athletes remain intact, according to OU.
OU athletics director Joe Castiglione was quoted in a news release about the budget cuts, saying,
“All of us understand that a number of circumstances will unfold in the weeks ahead. Our staff continues to monitor our expense and income projections closely and we’ll take other actions, as necessary.”
Castiglione added that he was pleased that the department was able to balance its budget for the 2019-20 fiscal year.
“It’s a testament to our staff and our practices that we were able to balance our budget for fiscal year 2020,” Castiglione said. “We have always benefited from excellent teamwork in our department, but our staff has come together as never before. I am very proud of our people.”
Castiglione added that he remains optimistic about the upcoming school year.
“Our goal is to have all activities operate as safely and efficiently as possible,” he commented. “That said, we are planning on a number of contingencies and protocols that will leave us prepared for any number of scenarios.”