Since the release of the California State University’s audit on CapRadio on Sept. 27, there has been a question of what the radio station is doing to stay running despite its losses.
RELATED: Former CapRadio employees recount the company’s deep-rooted problems
The audit revealed a history of financial mismanagement, with an internal audit by Sacramento State revealing the auxiliary would be out of financial resources by January 2024. President Luke Wood said the university has already put $12 million into the station and is estimated to spend another $5 million.
Sac State Chief Financial Officer and Vice President for Administration Jonathan Bowman said CapRadio currently runs on a $15 million operating budget. Both Bowman and Interim CapRadio President Tom Karlo said that the largest source of revenue for the company comes from community support, in the form of annual memberships and donations.
“I would say 40-50% comes from members, maybe 20-25% comes from community support,” Karlo said. “10% comes from the federal government, and the rest comes from grants.”
Karlo said community support includes corporate support and businesses that sponsor the station.
Bowman…
