Why we need a rainy day fund.

From 2003-4 to 2015-6, UGA’s athletic department revenues increased 163.7%, from $46,971,058 to $123,841,268.

I can see how that would keep Greg McGarity up at night.

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14 Comments

Filed under Georgia Football, It's Just Bidness

14 responses to “Why we need a rainy day fund.

  1. Castleberry

    Not sure how you all manage finances, but when my income more than doubles it goes right to savings. Bigger rainy day fund coming soon.

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  2. J Reid Parker Director of Money

    We do things a little different at UGA and we’re very happy with that. Thanks for your concern.

    Go SEC!

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  3. AusDawg85

    $300k per day barely keeps the lights on. We need moar revenue!

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  4. 92 grad

    This is exactly what I’ve been saying every time there is a money issue. They survived just fine a decade ago on $50mil but now they’re saying “we can barely keep the lights on, let alone hire more coaches.”

    The money is outrageous and there is going to be corruption and everything that comes with it. Just a matter of time. Every academic department should be flush, any construction or renovation should be paid for, and every varsity sport should have all of the best coaching and equipment available.

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  5. doofusdawg

    The reserve fund is the ultimate in planning for the future… wait.

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  6. dawgfan

    The problem is simple, they simply have more cash than they know what to do with. It’s just like Walt and Jesse on Breaking Bad.

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  7. Russ

    There’s saving for a rainy day, and then there’s making hay while the sun is shining. I’d say the sun has been shining brightly for a while now. Time to make some hay (big name basketball coach, new arena, moar staffers, better restrooms, faster concession stands, etc).

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  8. Mayor

    Georgia isn’t the only university to have this increase in revenue. Every school in the SEC and many others across the nation have experienced this increase due to TV money. How can the NCAA member schools with a straight face continue to claim tax exempt status? This is professional football where only the coaches and administrators get paid. The Feds are low on money as we all know and one of these days the US government is going to take away that tax exemption. I’m amazed that it hasn’t happened already.

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  9. And he fired the man who was largely responsible for it yet somehow kept HIS job. This is why I have little faith in this program’s ability to get to a championship level. The people pulling the strings seem clueless and like to hang their hats on things that don’t really win championships.

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    • The Georgia Way

      It is not about winning championships here. Sports championships are trivial and they come and go every year.

      We have much higher, much more important, and much more permanant moral and financial goals.

      And this is what sets The Georgia Way apart from everyone else.

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  10. southernlawyer11

    If we ever truly need the rainy day funds, is it realistic to think that whatever problems necessitated their use would be wholly confined to UGA ? In other words, if the apocalypse occurs of having little to no revenue for 6 months or whatever time period the fund is keyed to protect, can’t we safely assume that the entire system as we know it has blown completely up, thereby making the continued funding and operation of a big time football program something that may not even be necessary or expedient?

    Who cares about having the biggest rainy day fund if the whole enterprise collapses ? We’ll be like the guy in the neighborhood who always paid his mortgage on time but is nevertheless 40% under water because his neighbors did not.

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