Everybody’s broke.

Here’s how athletic department math works.

Always a college sports financial giant, the University of Texas athletics department has taken yet another leap. It had nearly $215 million in annual operating revenue and total operating expenses of $207 million during its 2017 fiscal year, according its new annual financial report to the NCAA.

It is the first time a Division I public-school athletics program has had at least $200 million in both operating revenues and expenses in the same year.

In addition to its operating expenses, the Texas athletics program reported making a separate $10.3 million transfer to the university. That type of transfer, beyond operating expenses, occurs annually at Texas. Over the past four years, the athletics department has sent a total of nearly $40 million to the university in this manner. So, arguably, from the athletics department’s perspective, the program operated at a deficit for 2017.  [Emphasis added.]

I’m not sure what there is to argue about there.  If I spend more money out of my checking account than I deposit, I’m in the hole.  But I digress.

The real point here is that when the NCAA and the schools whine about losing money, it’s a crock as long as the books are being cooked.  Arguably, they’re lying.  Arguably.

Advertisements

8 Comments

Filed under It's All Just Made Up And Flagellant, It's Just Bidness

8 responses to “Everybody’s broke.

  1. I’ll admit I don’t mind the athletics department transferring money to the university at large … just reduce or eliminate the athletic fee from students’ tuition bill. Where I do have a problem with it is when the athletic department moves the money into a foundation as a way to hide the true profitability of the athletics program.

    When you look at a student’s tuition bill, it’s ridiculous the number and amount of fees that a student (or parent) has to pay.

    Like

  2. AthensHomerDawg

    ” If I spend more money out of my checking account than I deposit, I’m in the hole. ” Just don’t shut down our blog Senator!

    Like

  3. Required

    “I’m not sure what there is to argue about there. If I spend more money out of my checking account than I deposit, I’m in the hole.”
    Best not to look at US Federal Government annual budget either. But I digress.

    Like

    • all this semi-money laundering and financial shell game playing revealed above is as good a reason as any to completely dump our current tax code.Regardless of whether you think the federal government needs more money or less this type of conflated ,non transparent BS is generated by a 70,000 page tax code…. Sorry working on my taxes…Thanks letting me vent Senator.

      Like

  4. Nashville West

    A buddy of mine who became a public sector labor negotiator after 30 years in the private sector said that what was considered “accounting” in the public sector was considered grounds for 5 to 10 years in Leavenworth in the private sector.

    Like

  5. dawgxian

    It’s more like if you own a business and pay some of the money back to yourself as a dividend. Athletic departments should be paying money back to universities

    Like