UT boosts revenue in FY 2019
October 11, 2019 - The University of Tampa Inc. reported $245 million in operating revenue for the 12 months ended May 31, a 6.3 percent increase in operating revenue from the prior year, according to financial statements filed for bond holders. The increase in net assets, or surplus, in fiscal year 2019 was $42.3 million, down 3.9 percent from FY 2018. A surplus at not-for-profit organizations such as UT is similar to net income at for-profit companies. UT reported a $5.7 million loss on the disposal of assets in its most recent fiscal year. That's the result of the complete renovation of the Riverside Center to create the new Southard Family Building and the demolition of the Edison Building to make way for construction of the new Ferman Center for the Arts, a spokesman said. UT also renovated half of the Bailey Arts Studio to make way for the new digital fabrication lab (Fab Lab) during the year. Total enrollment for the fall semester of the 2018-19 school year was 9,335, compared to 8,839 in the fall semester a year earlier.