H.A.A. INCOME FOR PAST YEAR EXCEEDS PREVIOUS SEASON OVER $200,000

Excess of income of the Harvard Athletic Association over 1927-28 was $217,171.92 last year, according to a financial report made to the Board of Overseers by H. L. Shattuck '01, Treasurer of the University.

Receipts for the 12 months ending June 30, 1929, increased approximately $56,000 over receipts of the fiscal year 1927-28, while expenses were reduced about $52,00. The income over expenses for the year 1927-28 was $15,594.86.

Including the excess of the year 1928-29 the Harvard Athletic Association has a surplus of $611,111.62. Five hundred thousand dollars of this total will be applied to the completion of the indoor athletic building now under construction. The new construction will cost $1,200,000 and the Athletic Association has gifts totalling $700,000. The balance remaining in the Athletic Association's surplus will be $111,111.62. Of the gifts made to the Harvard Athletic Association for the erection of the new gymnasium $250,000 was given with the understanding that $200,000 would be paid in 1930 and $50,000 in 1931. The Association will use its remaining surplus to pay the indebtedness covered by this deferred gift. The swimming pool in the new gymnasium will be completed in February, and the entire building in June.

Expenses Reduced

Team expenses were reduced and the overhead of permanent improvements, grounds, and buildings was $70,000 less than in 1927-28.

Major sport teams, with the exception of hockey, lowered expenses during the year. Baseball and crew expenditures were reduced approximately $5,000 each: track about $13,000: University football $26,000: and minor sports approximately $8,000.

Total receipts for the 12 months ending June 30, 1929, were $1,070,617.61: guarantees paid to visiting teams amounted to $291,217.00: the amount available for athletics and physical education was $779,400.61: total expenses were $562,228.69. Total receipts for the preceeding year were $1,014,554.44 and all expenses amounted to $711,774.64.

Football was the only sport to add money to the Harvard Athletic Association treasury. Its expenses were $122,557.33 and its income $618,892.04. During the year 1927-28 football made $577,254.49 and expended $148,837.11.

On the other side of the balance sheet university crew stands as the greatest loss, on a percentage basis. The income of the crew was $2,387.66 and its expenses $39,705.

Hockey and University baseball fell about $5,000 short of paying for themselves. The preceeding year their deficits were approximately $7,000 each.