Athletic Budget issues at Virginia Tech

[CuseLegacy]

 

[CuseLegacy]

 

[CuseLegacy]

 

[CuseLegacy]

 

[Hoo's That]

In addition to the Commonwealth Cup which is awarded to the winner of the football game between UVa and VPI, there is the Commonwealth Clash which is an all-sports competition. Needless to say, we usually clean their clocks in that each year. We've always won, it's just been a question of by how much each year. Jim Weaver, the AD before Babcock, readily agreed to go along with having the Commonwealth Clash in an effort to get the Olympic sports upgraded, primarily through having their fans get tired of the yearly clock-cleaning by UVa. I wonder how much of the shortfall/lag/deficit is due to the upgrades they've already made and how much more would go to their Olympic sports in the future.

 

[Ish88888]

While on tbe subject, where does the Cuse budget rate and fall amongst ACC teams and nationally ?

 

[CuseOnly]

While on tbe subject, where does the Cuse budget rate and fall amongst ACC teams and nationally ?

Our budget for 2014-2015 was $87 Million not including revenue from the Dome which is a funky way of accounting as the Dome is considered a seperate revenue generator for the university.

So just athletic revenue alone we were 35th and in profitability were in the top 10.

USA TODAY Sports

Equity in Athletics

Just look up Syracuse University in the second link and the tab "Revenue and Expenses" after you search. $19 mil profit on revenue of $87 million without the Dome.

 

[Ish88888]

Our budget for 2014-2015 was $87 Million not including revenue from the Dome which is a funky way of accounting as the Dome is considered a seperate revenue generator for the university.

So just athletic revenue alone we were 35th and in profitability were in the top 10.

Thank you for the info . very interesting

 

[CuseOnly]

Thank you for the info . very interesting

I edited the link, keep in mind that these are 2014-2015 numbers not last year.

They have way more money than they act like they do.

 

[omniorange]

Our budget for 2014-2015 was $87 Million not including revenue from the Dome which is a funky way of accounting as the Dome is considered a seperate revenue generator for the university.

So just athletic revenue alone we were 35th and in profitability were in the top 10.

USA TODAY Sports

Equity in Athletics

Just look up Syracuse University in the second link and the tab "Revenue and Expenses" after you search. $19 mil profit on revenue of $87 million without the Dome.

Not positive, but wouldn't our budget be the grand total expenses which in 2014-15 was slightly over $67 million?

Cheers,
Neil

 

[CuseOnly]

Not positive, but wouldn't our budget be the grand total expenses which in 2014-15 was slightly over $67 million?

Cheers,
Neil

Profit is Revenue minus Expenses...hence they are 2 different numbers...

You aren't an accountant I hope

Revenue $87,175,761
Expenses $67,391,194
Profit $19,784,567

 

[omniorange]

Profit is Revenue minus Expenses...hence they are 2 different numbers...

You aren't an accountant I hope

Ummm...that much I know. Your post to which I replied said "Our budget was $87 million" for 2014-15. To me, your budget is what you spent on your expenses and to get a profit your revenue needs to exceed said budget, correct?

Cheers,
Neil

 

[CuseOnly]

Ummm...that much I know. Your post to which I replied said "Our budget was $87 million" for 2014-15. To me, your budget is what you spent on your expenses and to get a profit your revenue needs to exceed said budget, correct?

Cheers,
Neil

Yes and yes, but we are talking about total revenue which in athletics is the whole ball of wax. Look at the report, it's pretty cut and dried it specifically say Revenue and shows $87,175,761.

 

[omniorange]

Yes and yes, but we are talking about total revenue which in athletics is the whole ball of wax. Look at the report, it's pretty cut and dried it specifically say Revenue and shows $87,175,761.

I guess I am "old school". When in the past discussions like this have happened, budget referred to how much an institution spent and revenue referred to how much it made - similar to movies, etc.

I think the VT AD is also blurring the lines as well. There is no way their "budget" ranks 10th in the ACC. I doubt SU, BC, Wake, GT, NC State, and Pitt have athletic expenses exceeding $80 million when two years ago they were all less than $71 million. Maybe two of them do, but how likely is that?

Now VT could be 10th in terms of revenue rank since two years ago they were 7th, with Clemson, Miami, and NC State not too far behind. But again, revenue is not the same as budget. It can serve as a baseline for what the budget should be the following year, but it is not the budget per se, imho.

Cheers,
Neil

 

[CuseOnly]

I guess I am "old school". When in the past discussions like this have happened, budget referred to how much an institution spent and revenue referred to how much it made - similar to movies, etc.

I think the VT AD is also blurring the lines as well. There is no way their "budget" ranks 10th in the ACC. I doubt SU, BC, Wake, GT, NC State, and Pitt have athletic expenses exceeding $80 million when two years ago they were all less than $71 million. Maybe two of them do, but how likely is that?

Now VT could be 10th in terms of revenue rank since two years ago they were 7th, with Clemson, Miami, and NC State not too far behind. But again, revenue is not the same as budget. It can serve as a baseline for what the budget should be the following year, but it is not the budget per se, imho.

Cheers,
Neil

When anyone ranks athletic budgets, they Always rank total revenue. It's pretty standard, nobody cares about expenses or profitability because of the funky accounting that schools do and where they can allocate funds and who pays what. It is the only thing that is not able to be messed with really, all schools have to report what they bring in.

Expenses can be messed with big time especially in organizations as large as these.

And 2 years ago's actual reporting numbers would have been actually 3 years ago for NCAA and Federal reporting meaning that the revenue from the National Championship tournament would not have been figured in.

EDIT: Also, expenses have zero to do with budget. If I budget $500 for specific item and actually spend only $250 attaining said item...that doesn't mean my budget is $250, it means I expended $250 with a budget of $500 and have some left over.

 

[CuseLegacy]

Budget is just a "guesstimate" on what future expenditures might be.