BATON ROUGE, La. (WAFB) – LSU overpaid head football coach Brian Kelly by just over $1 million in 2022, according to a report by the Louisiana Legislative Auditor.
The report said the auditors found that Kelly was paid an additional “$1,001,368 in supplemental payments in fiscal 2022 when the university made duplicate payments in May and June 2022.”
It added that LSU began making additional payments to its LLC in May 2022, but also continued to make direct additional payments to Kelly, doubling his monthly payments. The auditors said LSU discovered the error in November 2022.
According to the report, LSU and Kelly have enacted an adjustment payment schedule to recoup the overpaid amount by the end of fiscal 2023.
Also from the Louisiana Legislative Auditor:
In addition, the university misclassified $6,667,000 in severance payments as coaching salaries, benefits and bonuses in its statement of income and expenses. The auditors also noted that the university omitted $139,895,732 in debt from its NCAA financial report. The university’s income and expenditure statement showed that the athletic department’s income exceeded its expenditure by $1,943,722 in fiscal 2022 — $199,309,382 in total income compared to $197,365,660 in total expenditure. The football program generated $95,104,156 in revenue and had a net income of $35,719,700 after spending $59,384,456, an increase of just over $29 million over the corresponds to the 2021 financial year.
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