Falling to Charlie Strong and Louisville in New Orleans on Jan. 2 wasn’t the only loss the University of Florida took in the Sugar Bowl. The Gators also came out on the losing end financially because the school fell well short of selling its required allotment of 17,500 tickets.

It was revealed at the UAA’s annual budget meeting Wednesday that UF lost about $840,000 on the Sugar Bowl, mostly due to unsold tickets.

UF was one of several SEC schools that took a loss on bowl ticket sales this past year, something that the league addressed at its annual spring meetings in Destin last month. Commissioner Mike Slive said the SEC will be pushing for a lower minimum number of tickets that bowls can require league schools to purchase in the future.

Meanwhile on Wednesday, athletic director Jeremy Foley’s proposed $100.7 million budget for the 2013-14 academic year was approved by the UAA’s Board of Directors. The figure is a 3.5 percent increase from last year’s budget.

The UAA’s biggest source of revenue is the football program, which generates 67 percent of revenue and consumes only 16 percent of the operating budget.