If only Nebraska’s football team could rack up as impressive a won-loss record as the financial performance of the athletic department.

Thanks to a nearly $50 million revenue-sharing contribution from the Big Ten Conference, Nebraska’s athletics program generated $136.233 million in total operating revenue last year, according to the school’s latest revenue and expense financial report filed with the NCAA.

Total expenses of $124.148 million meant Nebraska finished the 2019 fiscal year that ended June 30th with an operating surplus of $12.085 million.

How were the surplus funds used? According to the financial report, $5 million was transferred to the university to fund scholarships for non-student-athletes, and another $5 million was turned over to the chancellor to be used at his discretion to support the academic mission of the university.

Most of the remaining surplus funds were used to finance $1.3 million in athletic department capital projects, and $250,000 was retained by the department for future needs.

The athletic department has traditionally been one of the most financially efficient in the conference, if not all major college sports. It is one of the few athletic programs in the country with a revenue surplus. There is no debt on the books, no state government or institutional support, and no student fees helping to pay for play.

Three sports -- football, men’s basketball, and women’s volleyball -- reported revenue surpluses last year, which typifies past years. Once again, Nebraska is one of the few athletic programs in the country with three three teams that generate more revenue than expenses.

“There is no place like Nebraska from a financial standpoint because of the passion of Nebraska fans, which tells a compelling economic story,” said John Jentz, the athletic department’s chief financial officer.

“Every year, the stadium is filled and gifts are generously provided,” Jentz said. “And despite being one of the smallest markets in the Power 5 (conferences), sponsors and licensees provide top of the market support knowing that association with the Nebraska brand and its fans will translate to its bottom line. What’s more, the fan passion that creates great game atmospheres and a self-sustaining athletic department also creates $10 million annually in academic support for the university.”

Compare those results to the hole UCLA is in. For fiscal year 2019, the Bruins reported a $19 million deficit for its athletic programs, with revenue of $108 million and $127. 3 million in expenses. It needed a loan from the university to cover the shortfall.

Most of UCLA’s financial problems were attributed to large severance payments to former head coaches in football and basketball, and to higher expenses associated with operating Olympic-type sports programs.

As good as 2019 was for Nebraska from a financial standpoint, bottom line revenue was actually down about $6 million from the 2018 fiscal year.

But the revenue dip was offset largely by an $11.5 million decline in operating expenses compared with a year earlier.

Most of that decline on the expense side can be attributed to a reduction in severance paid out last year to former coaches. Severance went from $12.9 million in fiscal 2018 to $2.8 million last year.

Nearly all the severance paid out those two years went to former head football coach Mike Riley and his assistants, Jentz said. Severance was also paid to former head basketball coach Tim Miles, who was let go last spring. But because he left so late in the fiscal year, those payments will likely have a greater financial impact in the current fiscal year, which began in July.

As for the revenue dip, it’s more of a housekeeping issue. Because there were fewer expenses to cover last year, the athletic department didn’t need to transfer as much rainy day money from the Nebraska Foundation to cover bills.

As a full-fledged revenue-sharing member of the Big Ten, Nebraska received $49.7 million last year. That’s up from 2018’s $47.9 million. In comparison, the SEC paid out $44.6 million to each member in 2018-19, which is the second-highest media rights payout.

Of that 2019 total, $42.6 million came from media rights, and $7.1 million was from the conference distribution of post-season bowl revenue.

Nebraska also received $5.2 million from an NCAA distribution.

Since Dave Ellis in 2018 returned to Nebraska to oversee nutrition and the training table, much has been said about the need to improve athletes’ eating habits.

Here’s proof: The athletic department spent $4.4 million last year for student-athlete meals, up from $1.9 million in 2018.

“Not only is the amount and quality of food reflected in this year’s increase,” said Jentz, “but also the added professional staff that produce those meals and educate our student-athletes on managing personal nutrition plans to improve performance and overall health.”

Among other interesting notes from the annual financial report:

*Football generated $96.2 million in revenue in 2019 versus $36.4 million in expenses. Men’s basketball brought in $15.2 million while spending $9.4 million, and women’s volleyball generated $4.2 million with expenses of $4 million.

*Nebraska generated $37.1 million in revenue last year from ticket sales for all sports, about the same as in 2018.

*Merchandising royalties climbed to $27.9 million last year from $25.8 million the previous year.

*Nebraska has 636 athletes -- 358 male and 278 female -- who play on 10 men’s teams and 14 women’s teams.

While Jentz declined to discuss financial projections for 2020, he did say the department is putting pencil to paper on how to finance announced and yet-to-be-determined facility upgrades.

That would include the $155 million athletics training complex set for a groundbreaking this year, along with a potential renovation of the south end of Memorial Stadium, a golf course complex, and a new swimming facility.

“Athletics is working on a long-term financial master plan to incorporate major facility needs into a model that will ensure expenses do not exceed revenues into the future,” Jentz said. ”Nebraska’s generous giving and continued attendance has been and always will be the key to the financial success of Nebraska athletics.”

Steve Rosen covers the business of sports for HuskerOnline. Questions, comments, story ideas? Reach Steve at sbrosen1030@gmail.com.