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goterpss said...
Again, if academic side and other organizations can raise money without offering tangible benefits, why can't athletics?
Iron Dukes is a primary example -- they have a $14 million scholarship bill each year to pay and have an athletics endowment 6x ours. How many of their donors are getting bball tickets? (let's agree that access to Duke football tickets have nil value). Most of their donors are from out of state too. They are raising a ton of dollars from donors who see very little benefits in return.
Army raised $20 million this year, purely on philanthropy (slightly different culture there I know).
As for the road football trip, i'm pretty sure there was one in 2010 (UVA game?). It wasn't going to work this year and was communicated to donors in July I believe. They stepped up the annual football banquet in lieu.
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DaveJuice
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SATerp
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goterpss said...
Again, if academic side and other organizations can raise money without offering tangible benefits, why can't athletics?
Iron Dukes is a primary example -- they have a $14 million scholarship bill each year to pay and have an athletics endowment 6x ours. How many of their donors are getting bball tickets? (let's agree that access to Duke football tickets have nil value). Most of their donors are from out of state too. They are raising a ton of dollars from donors who see very little benefits in return.
Army raised $20 million this year, purely on philanthropy (slightly different culture there I know).
As for the road football trip, i'm pretty sure there was one in 2010 (UVA game?). It wasn't going to work this year and was communicated to donors in July I believe. They stepped up the annual football banquet in lieu.
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sugarmag ●
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goterpss said...
Kevin's discussed with the accounting dept at Maryland and the Finance folks at the University to conduct an independent audit. I know it sounds crazy, but having an independent audit on an individual dept of the University is very rare (you're also talking another 250K in expense at least). I gave him my opinion, that an independent audit provides some comfort and verification to stakeholders (i.e. donors) that there isn't any hanky panky going on.
They've cleaned up the books and they know what the run rate is to operate the ship, which was documented in the President's Commission and helped lead the path to the recommendation to cut sports. What Debbie had did, was muddy up what the true operating cost was of running the Athletic Dept and I think Kevin and team have a very good idea of what that is.
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sugarmag ●
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OrangeTerrapin
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goterps said...
You seem to be in the know. Can I ask why there has been no talk of possible prosecution of Debbie Yow for misuse of public funds? I'm being dead serious here. She simply cooked the books at a public institution and altered the financial books to portray herself in a positive light. That's what it comes down to.
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goterpss said...
She didn't do anything illegal. In fact, per some friends who work in government, she did nothing different than what many other legislators do. It's government accounting which is different than GAAP. It makes them look good today, and somebody else's problem tomorrow. Not ideal, but not illegal. It's good she moved on as did her CFO.
One of the very strong things about Kevin is the transparency he is providing. Under DY, you would never have had a President's Commission that detailed actual operating budgets, etc.
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goterps said...
But my understanding is, among other unilateral actions, she accelerated the naming rights payments to be received from Comcast for the arena so that she could show extra revenue in the present at the cost of not getting those payments for years 10 through 15 of the contract. I can't imagine that the Athletic Director has the authority to do something like that when it's money that technically (and indirectly) belongs to the State of Maryland.
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