GAINESVILLE, Fla. (AP) — Florida’s athletic department had a $54.5 million shortfall during the 2020-21 fiscal year because of the coronavirus pandemic.

The Gators were able to weather the significant financial losses with a supplement from the Southeastern Conference and a sizeable reserve.

The University Athletic Association released its annual budget summary amid the school’s two-day board of trustees meeting that ended Friday.

Athletic director Scott Stricklin expressed optimism that one of the country’s most successful sports programs would rebound without any long-term setbacks. He says “it’s something we hope we never have to do again.”