When business is good, everyone benefits.

CBS Sports reports:

LSU athletic department to transfer over $10 million to the university

Each year, LSU’s athletic department transfers $7.2 million to the university to use for funding academics, research and public service, but this year that number is just north of $10 million. The reason for the additional funding is that the LSU athletic department had a surplus in 2014-15, which accounts for the additional $2.85 million added to the transfer.

“Our athletic department is sincerely committed to supporting the academic mission of the university, and we’re extremely proud to transfer over $10 million this year,” LSU athletic director Joe Alleva said in a release. “These funds provide vital resources for our students, faculty and staff, and they help to sustain LSU as one of the top research institutions in the country.”

The added $2.85 million transferred by the athletic department to the university is even more important this year, as LSU is facing a potential crisis as proposed state budget cuts could take away 40 percent of the school’s funding. The school even considered filing for bankruptcy due to the potential budget cuts.

“This surplus comes on the heels of an extremely challenging budget year, and the real beneficiaries will be our students, “ said LSU President F. King Alexander. “Few athletic departments across the country have the capacity to give back to their university the way ours does, and we appreciate their deep commitment to all our students.”