Future Campus Framework Discussion

[upperdeck]

well they could go for a 40 year pay back home equity loan.

 

[orangecuse]

The musical theme of this thread, the one which proceeded it, and the last 15 years of Syracuse Football!

 

[UnknownOrange]

I am always amazed at all the posters that must work in the accounting department for the university because you all seem to know the finances of the university and for a fact that they can afford a major renovation of the Dome or construction of a new facility without major donations.

I get your frustration but I said some dough, not all or even the majority

 

[CuseLegacy]

I get your frustration but I said some dough, not all or even the majority

Frustration? No. Simply clarifying that because SU is a private university and doesn't release their financials no one on here, unless they work in the finance dept. of the university or sits on the BOT, has any idea as to how and where monies are allotted.

 

[Cusefan78]

One thing we do know for sure is that Syracuse isn't losing money or breaking even. We also know there is a surplus from acc money that gets funneled back towards the school. We are also not including is nike money or other advertising money we are getting. So to say Syracuse doesn't have the money for a high end locker room or to hire a nutritionist is foolish. In the end it's s business and it's there to make money. Again I'm not saying Syracuse should compete with Clemson but they should be on par with its pier schools.

 

[CuseOnly]

I think that the State School vs. Private School argument is completely irrelevant honestly. SU CHOSE to accept the invite to compete against these schools.

But folks on here seem to like wearing it out whenever funding and spending is brought up. If that was the case the school should have declined the ACC invitation and said they were unwilling to compete with the bigger stronger more well funded state schools.

They didn't do that, so using that as an excuse to not be competitive or fund your athletic department commensurate with who you competition is in your own league is ridiculous.

I don't enter into world class sprint competitions, come in dead last and complain I was underfunded in my training, too short and not fast enough to be competitive. I also don't collect money from paying fans to watch the competition, parking passes, charge $7.50 for beer and have an $87 million dollar yearly operating budget - all of which came to see me get trounced.

They should be doing everything within their power to compete and that just simply seems to not be happening. Especially since there is that small $87+ (2014-15 numbers) million budget which is also the second most profitable in the ACC after ND. It's also the 6th largest budget in the ACC.

There is no excuse to not be competitive having that kind of money and I am sure all of these numbers have gone up since 2015.

SU Athletics Has 2nd-Highest Profit Margin in ACC

 

[Cusefan78]

I think that the State School vs. Private School argument is completely irrelevant honestly. SU CHOSE to accept the invite to compete against these schools.

But folks on here seem to like wearing it out whenever funding and spending is brought up. If that was the case the school should have declined the ACC invitation and said they were unwilling to compete with the bigger stronger more well funded state schools.

They didn't do that, so using that as an excuse to not be competitive or fund your athletic department commensurate with who you competition is in your own league is ridiculous.

I don't enter into world class sprint competitions, come in dead last and complain I was underfunded in my training, too short and not fast enough to be competitive. I also don't collect money from paying fans to watch the competition, parking passes, charge $7.50 for beer and have an $87 million dollar yearly operating budget - all of which came to see me get trounced.

They should be doing everything within their power to compete and that just simply seems to not be happening. Especially since there is that small $87+ (2014-15 numbers) million budget which is also the second most profitable in the ACC after ND. It's also the 6th largest budget in the ACC.

There is no excuse to not be competitive having that kind of money and I am sure all of these numbers have gone up since 2015.

SU Athletics Has 2nd-Highest Profit Margin in ACC

This is my biggest gripe with su. They will hire tennis coaches with huge contracts and are running a surplus but the sport that's paying the bills gets nickel and dimed. We all understand buildings don't go up without donations but su let the program die over the last 30 years and now they need to invest in a big time way. Some areas they are and some they aren't. The only horse in town theory simply isnt true in this day and age of having every game on tv. Fans that came out when we won have moved on to schools that have shown their commitment to their programs. You can't blame people for not wanting to spend their hard earned money on a team that can't win.

 

[CuseLegacy]

One thing we do know for sure is that Syracuse isn't losing money or breaking even. We also know there is a surplus from acc money that gets funneled back towards the school. We are also not including is nike money or other advertising money we are getting. So to say Syracuse doesn't have the money for a high end locker room or to hire a nutritionist is foolish. In the end it's s business and it's there to make money. Again I'm not saying Syracuse should compete with Clemson but they should be on par with its pier schools.

SU is on par with it's peer schools.

 

[Cusefan78]

SU is on par with it's peer schools.

Not if you account for the cost of attending su over say nc state. Scholarship costs bloat those numbers immensely. We also know su likes to inflate its numbers and like you said we don't know exact numbers.

 

[CuseLegacy]

I think that the State School vs. Private School argument is completely irrelevant honestly. SU CHOSE to accept the invite to compete against these schools.

But folks on here seem to like wearing it out whenever funding and spending is brought up. If that was the case the school should have declined the ACC invitation and said they were unwilling to compete with the bigger stronger more well funded state schools.

They didn't do that, so using that as an excuse to not be competitive or fund your athletic department commensurate with who you competition is in your own league is ridiculous.

I don't enter into world class sprint competitions, come in dead last and complain I was underfunded in my training, too short and not fast enough to be competitive. I also don't collect money from paying fans to watch the competition, parking passes, charge $7.50 for beer and have an $87 million dollar yearly operating budget - all of which came to see me get trounced.

They should be doing everything within their power to compete and that just simply seems to not be happening. Especially since there is that small $87+ (2014-15 numbers) million budget which is also the second most profitable in the ACC after ND. It's also the 6th largest budget in the ACC.

There is no excuse to not be competitive having that kind of money and I am sure all of these numbers have gone up since 2015.

SU Athletics Has 2nd-Highest Profit Margin in ACC

Instead of posting that article again you should go to the actual website for Equity in Athletics and look at a breakdown of revenue. When I go back and look at 2015 it doesn't take into account actual salaries of coaching staffs. All those salaries listed are only averages as that info isn't public info.
Equity in Athletics

 

[FasterCuse]

Frustration? No. Simply clarifying that because SU is a private university and doesn't release their financials no one on here, unless they work in the finance dept. of the university or sits on the BOT, has any idea as to how and where monies are allotted.

I'll post this link here. Fiscal year-end 2017 has been completed, but not yet published (to the public). You can see that even though the university's endowment is over a billion a good chunk of that is temp restricted or permanently restricted meaning it has been set aside for another purpose as designated by the donor. You can also see that the University isn't rolling in cash (take a look at the CF statement). I'd also point out the discount that SU is offering on tuition which has steadily increased over the last 10 years. So while SU is raising tuition, they are also offering additional financial aid to offset some of that cost for students. You can read these though and make your own assumptions. I'd just say that without major donor help or an incentive from NYS, it's going to be hard to get everything we want in a dome renovation or total rebuild.

http://comptroller.syr.edu/wp-content/uploads/2015/11/2016-Annual-Report.pdf

 

[kcsu]

I believe that SU is waiting for the new mayor. NY needs to step up on order for this to happen.

 

[OttoMets]

Don't think this was posted a couple months ago when it was new, but it's good framework-related pub for SU: https://architizer.com/blog/syracuse/

 

[CuseLegacy]

I'll post this link here. Fiscal year-end 2017 has been completed, but not yet published (to the public). You can see that even though the university's endowment is over a billion a good chunk of that is temp restricted or permanently restricted meaning it has been set aside for another purpose as designated by the donor. You can also see that the University isn't rolling in cash (take a look at the CF statement). I'd also point out the discount that SU is offering on tuition which has steadily increased over the last 10 years. So while SU is raising tuition, they are also offering additional financial aid to offset some of that cost for students. You can read these though and make your own assumptions. I'd just say that without major donor help or an incentive from NYS, it's going to be hard to get everything we want in a dome renovation or total rebuild.

http://comptroller.syr.edu/wp-content/uploads/2015/11/2016-Annual-Report.pdf

Oh but didn't you realize that the Athletic Department is a separate entity from the university.

 

[orangecuse]

Frustration? No. Simply clarifying that because SU is a private university and doesn't release their financials no one on here, unless they work in the finance dept. of the university or sits on the BOT, has any idea as to how and where monies are allotted.

You're correct.

However, you do not need to be in the finance dept. or on the board of directors to realize the reportedly estimated/approximated $20 million annual athletic dept. revenue gain from Big East to ACC. Simplifying of course, in 10 years, (10 years) that equates to $200 million excess from Big East monies. Now, we all realize that costs have gone up, additional staff, etc., however, that appears to be a mere fraction of the overall win fall SU was so fortunate to obtain when being gifted that ACC invite. So, perception, from a distance, you can see where one can render an opinion of where's all the extra coin going, and, why not dump as much as they can into the athletic dept. to preserve its athletic future. If it truly matters to SU as they say (talk is cheap), the tangible commitment will be the proof in the pudding.

 

[orangecuse]

I'll post this link here. Fiscal year-end 2017 has been completed, but not yet published (to the public). You can see that even though the university's endowment is over a billion a good chunk of that is temp restricted or permanently restricted meaning it has been set aside for another purpose as designated by the donor. You can also see that the University isn't rolling in cash (take a look at the CF statement). I'd also point out the discount that SU is offering on tuition which has steadily increased over the last 10 years. So while SU is raising tuition, they are also offering additional financial aid to offset some of that cost for students. You can read these though and make your own assumptions. I'd just say that without major donor help or an incentive from NYS, it's going to be hard to get everything we want in a dome renovation or total rebuild.

http://comptroller.syr.edu/wp-content/uploads/2015/11/2016-Annual-Report.pdf

Reminds me when the county/municipality powers that be increase your tax rate, but lower the assessment. Generally a temporary wash, until they reassess again in a couple years.

 

[AZOrange]

Frustration? No. Simply clarifying that because SU is a private university and doesn't release their financials no one on here, unless they work in the finance dept. of the university or sits on the BOT, has any idea as to how and where monies are allotted.

I don't get it. We compare the costs to a new stadium built a decade ago and assume costs haven't risen substantially since then (at least 25%). Btw UOP has a fabric roof...

Then we are to assume this is merely a cash flow issue and that SU should tap their endowment to pay for this? This is almost a laughable suggestion.

It takes time and a lot of money raised (see, more time) to get a project like this done. Patience grasshoppers

 

[UnknownOrange]

Here's an honest question because I do not know the answer: how was the Dome financed originally? Who paid for it?

EDIT:

$15 million grant from New York State; $2.75 million from Carrier Corporation, for whom building named; and remainder [about $9.25 million] from donations of friends of Syracuse University

$27 million and from the surface, SU didn't pay a dime for it. That to me, is wrong.

 

[cuse10]

Here's an honest question because I do not know the answer: how was the Dome financed originally? Who paid for it?

• $15 million from the state due in part to Governor Carey believing he'd lose the election due to the climate towards him from Upstate voters. If Cuomo were in the same position, some cash would be thrown SU's way, but he has no reason to appease this section of NY when Downstate will carry him.
• $2.75 million as a naming gift from Carrier

 

[shandeezy7]

They release financial statements to the federal DOE, annually. I believe its required by T-IX.

In case anyone wanted to pore over the most recent 990 filing that I could find (2014 fiscal), have at it.

http://990s.foundationcenter.org/990_pdf_archive/150/150532081/150532081_201506_990.pdf

High level overview shows:

Total revenue of $1,269,059,737
Total expenses of $1,178,788,210
Revenue after expenses of $90,271,527
Net assets of $1,842,203,525

 

[rrlbees]

Here's an honest question because I do not know the answer: how was the Dome financed originally? Who paid for it?

EDIT:

$15 million grant from New York State; $2.75 million from Carrier Corporation, for whom building named; and remainder [about $9.25 million] from donations of friends of Syracuse University

$27 million and from the surface, SU didn't pay a dime for it. That to me, is wrong.

That's how athletic facility costs work at every school, 99% of the time. All those great facilities Oregon has isn't paid for by the school. The bigger the donors the better the bling.

 

[UnknownOrange]

That's how athletic facility costs work at every school, 99% of the time. All those great facilities Oregon has isn't paid for by the school. The bigger the donors the better the bling.

Which again - is wrong to me. I don't have the time to see if that 99% of the time comment checks out or not, but I am sure you're probably right for the most part. It's just crazy to me that if you have an entity in your business that profits millions of dollars, you look for handouts in order to reinvest.

 

[cuse10]

Which again - is wrong to me. I don't have the time to see if that 99% of the time comment checks out or not, but I am sure you're probably right for the most part. It's just crazy to me that if you have an entity in your business that profits millions of dollars, you look for handouts in order to reinvest.

The state has made their money back and more from the Carrier Dome. It is something that worked out for all parties involved.

 

[UnknownOrange]

The state has made their money back and more from the Carrier Dome. It is something that worked out for all parties involved.

I think you're missing my point. It is crazy to me that Syracuse didn't invest a single dollar into a building that has made them HUNDREDS of millions of dollars. Obviously they're going to be ecstatic lol

 

[orangecuse]

I think you're missing my point. It is crazy to me that Syracuse didn't invest a single dollar into a building that has made them HUNDREDS of millions of dollars. Obviously they're going to be ecstatic lol

Crazy, no, it's American. You know, where the rich get richer.