ACCBoards

I have heard some wild amounts thrown around in the last few days concerning Tech football being in great debt or being in the red.

Does anyone have any real numbers with sources to back them up? What is the real story?

I did find where Tech athletic programs had:

Grand Total Revenues $44,371,871
Grand Total Expenses $43,317,298

Reporting Year: 7/1/2005-6/30/2006

Source:

http://ope.ed.gov/athletics/search.asp

Financial Statement link for GTAA

These figures are for year ended 6/30/06:

Total operating revenues: $34,846,556
Total operating expenses: $41,538,892
Operating loss: ($6,692,336)

Total nonoperating revenues: $3,297,798

Decrease in net assets: ($3,394,538)

Net assets (beginning of year): $70,524,465
Net assets (end of year): $67,129,927

I see $4.7 million was depreciation expense so the cash flow is not as bad as my first impression.

Very interesting. Thanks for the info.

You can see last years un adited financials here http://ramblinwreck.cstv.com/auto_pdf/p_...ual-report

go to page 22 or 23

Every set of numbers seems to be on a different basis.

I wonder which set they are managing to.

I agree, its all very confusing. I don't know if the AD intended to make it confusing, but he's made alot of changes. For instance, last year the school picked up the utility bills for the athletic events. In prior years a large portion ( I've been told 80% ) was paid for with the GTAA money. So I'm not sure if true comparisons exist without getting the full audited reports. And even then you may not be able to see the differences.