You know, when I posted something about what the latest USA Today athletics fiscal report disclosed about Georgia’s healthy net, I was tempted to conclude with a snarky comment about how that would probably mean Georgia’s athletic director would run to DawgNation’s Mike Griffith to get his take on the numbers out there.
Georgia ranked sixth in the nation in total revenue ($176,699,893) while reflecting $133,941,585 in “total expenses.”
However, quick math — and some misleading terminology — could lead to a misperception UGA stowed away more than $40 million in surplus.
Bulldogs athletic director Greg McGarity explained how the category the USA Today refers to as “total expenses” does not include money paid out for construction on the Sanford Stadium West End Zone project along with other sports facilities upgrades.
McGarity revealed that $67 million of the more than $176 million in revenue came from contributions while sharing insight into other numbers.
“This report illustrates that we are doing a good job fundraising, which allows us to pay for the facilities we are building,” McGarity told DawgNation.
“As for what we’re doing with the net number that’s reflected, which is about $44 million, approximately 95 percent is going to pay the contractors and architects — the money is reinvested into our facilities for projects that are in motion.”
McGarity said the USA Today chart also does not include the $4.5 million donation the athletic department gave back to the University of Georgia.
That is akin to saying if you made $100000 last year, spent $5000 on a vacation and another $45000 on a car, you really only made half of what you earned. Maybe I should try that argument on the IRS next year.
Meanwhile, this hasn’t changed.
Georgia finished 21st in the Directors’ Cup standings, which ranks schools by how they did in every NCAA sport, from big to small. Last year Georgia finished eighth in the same standings. The previous year it was 13th. The last time Georgia finished this low in the rankings was 1997.
I guess Griffith was too busy taking dictation to ask about that.