… Rutgers funneled $28.5 million from the university budget and student fees into sports, the most among 54 U.S. public universities in the biggest football conferences, based on data compiled by Bloomberg for the fiscal year ended last June. It was at least the second straight year at the top of the list for the state university of New Jersey, despite cost-cutting after lawmakers and faculty protested that academics were losing out.
That basically happened as a result of the football program’s slide last season.
Fiscal 2011 included the first losing football season in six years. Ticket sales for all sports, led by football, plunged by $3.1 million; contributions fell $1.5 million; and income from royalties and licensing declined $477,558. The lost revenue more than offset the spending reductions Pernetti was making.
Pernetti squeezed athletic administration salaries 12 percent by negotiating lower pay for new employees and shifting responsibilities of people who left or retired to remaining workers. He reduced travel costs 21 percent. And he lowered fundraising, marketing and promotion expenses 24 percent by using more e-mail.
Pernetti still needed $9 million from student athletics fees and $19.4 million from the Rutgers general budget, according to the school’s report. The total worked out to $969 a student, more than three times the average among the 54 universities.
You want to know what’s sad? Coach Schiano’s departure to the NFL turned out to be a cost-saving boon, as the school chose to promote an assistant who will make more than $1 million/year less. You know what’s even sadder? That Rutgers’ AD thinks the next Big East TV contract is going to “at least” double in revenue. Oy.
If you’re interested, there’s an interactive chart here where you can see how Georgia stacks up against other public schools in raising funds outside of the athletic department.