Those of you who believe the times have justified Greg McGarity’s obsession with the reserve fund, a question: if the financial situation continues to deteriorate, which step would you prefer to see the athletic department take initially, cut salaries or dip into the fund?
It’s a trick question. The correct answer, if you’re McGarity, is to see what you can get from the fans and donors first.
Get The Picture 
I have blasted McGarity in the past. I WAS WRONG. He was smart to establish and preserve the fund. However, this is the “rainy year” he planned for. Time to spend the reserve fund on keeping the Butts Mehre Country Club operating.
LikeLike
The reserve fund predates McGarity.
LikeLike
Dip The Fund.
LikeLike
Rest assured, year-over-year costs for our volunteer labor remain flat.
#COMMITTOTHEG
LikeLike
Time for pay cuts. Kirby, 80%. If you cannot live on one million six hundred thousand, how you gonna relate with poor scholar athletes? Or is all this sacrifices for the common good just crap to feed the poor?
LikeLike
Your ticket money and Hartman Fund contributions are still paying dividends. Rest assured, we will be fine.
#CONTINUITYISAGOODTHINGFORGEORGIA #COMMITTOTHEG
LikeLike
DID YOU BUY THE DIP???
LikeLike
I’ve seen 20% across the board at many companies…
Are scheduled closings down at your firm?
LikeLike
It’s a mixed bag. Residential refis are way up. Purchase/sales are down quite a bit. My commercial work has slowed some.
It’s really tough for lenders right now who have to track a borrower’s job status right up to the last minute (not that that’s new) with a heightened concern about job security. It’s my understanding that they’re raising minimum credit scores and requiring more equity than before.
LikeLike
I have seen all of that…
LikeLike
Sadly, I think the busiest lawyers in 2020 are going to be bankruptcy and workout specialists in the second half of the year. What a mess…
LikeLike
No time like rhe present to do some bathroom remodeling.
LikeLike
The Butts-Mehre Country Club takes care of their own.
LikeLike
Cut salaries. If we are better off than most financially, then the ogre of being outbid for staff is the lowest of any team.
LikeLike
Kemp just directed all state agencies to plan for a 14% cut for their budget next year.
Based on what the state did last time (after 2008, furlough days) I would expect that to be the first step with all the staff, as it relates to their State of Georgia salary. I’m not exactly sure if our coaches are paid solely by the state or supplemented by the Athletic Association so not sure if furloughs will reach them
LikeLike
The state pays a portion of the salary (Source: open.georgia.gov – 2019).
Kirby – $500k
Chaney – $206k (Jan 2019 departure)
Tucker – $165k (Dec 2018 departure)
Coley – $382k
Pittman – $375k
Scott – $325k
McGee – $336k
Schumann – $312k
Fountain – $300k
Hankton – $312k
LikeLike
LOL, you say that like getting the Liquor Barons to pay for it is a bad thing.
LikeLiked by 1 person
Though, the serious answer is that you get the Liquor Barons to pay for it, then you cut unnecessary expenditures, then you cut salaries until sports start again, and you fund the difference from reserves if you have to.
Just like when someone gets laid off and has to dip into savings, the proper thing is to cut back your lifestyle as well.
LikeLike
I’m not sure why there is animosity towards UGA finding ways to incentivize donors to keep things going. No one is making these people pay UGA money. If they want to give UGA $1M for a skybox who are we to stop them?
LikeLike
Good point. After all, every dollar he collects from a donor is a dollar he doesn’t have to spend from the reserve fund, which… wait for it… is THE POINT OF MY POST.
LikeLiked by 1 person
There’s history. The lead up to the 2017 SECCG, Rose Bowl, and NCG was absurd. Multiple calls for increased donations, changed deadlines, all with the promise of improving your chances for seats. It was all BS – not transparent at all.
Also, the Magill Society was introduced and created a system where new money can leapfrog long-time donors.
The Senator is spot on. We’ll get stroked for more $$s to cover any shortfalls before McG thinks of pulling a dime out of savings. If the UGAA was scraping by as a non-profit and needed the money to keep afloat… OK. We have a warchest flush with cash and on the rainiest of days we still won’t touch it. That’s a problem…
LikeLike