The all-inclusive Rutgers dumpster fire thread...

[Hoo's That]

yes, you did a really good job of using the sarcarm font.

I think you mean to type "yes, you did a really good job of using the sarcasm font."

 

[GoCuse14]

I think you mean to type "yes, you did a really good job of using the sarcasm font."

Nope, the correct font has always been italic...it just gets confused.

 

[721Comstock]

Nope, the correct font has always been italic...it just gets confused.

Uh, no.

there’s only one person here who is confused.

 

[ImperialOrange]

Nope, the correct font has always been italic...it just gets confused.

I thought all Italics talked with their hands... wait that's something else

 

[tep624]

13 years later here we are. basketball purgatory and 2 decent football teams. pls nuke this stupid thread. its bad juju

As mediocre or as downright bad as we’ve been in some years between both sports, our overall results have probably been better than Rutgers over the same span of time and we aren’t $500m in the hole.

There are rich and poor teams. Then there's fifty feet of crap, and then there's Rutgers. (Yes I stole it from Moneyball lol)

 

[Scarletnut]

Unfortunately Rutgers uses a different accounting method than almost all schools in the P4. Capital projects, for instance, are ledgered to the athletic department instead of the general account. PSU has an almost half billion dollar renovation of their stadium not ledgered to their athletic department. The one standout item in revenues is the lack of alum donations. RU is around 8 million per year while the rest of the B1G is around 30 million per year.
If all schools used Rutgers accounting methodology, much larger deficits would be reported at all the schools.

 

[JarHeadJim]

And they still don't even have a Fieldhouse...LOL

 

[JarHeadJim]

I was surprised they were able to hold on to KJ Duff. I wonder what they are paying him?

 

[Cheriehoop]

Unfortunately Rutgers uses a different accounting method than almost all schools in the P4. Capital projects, for instance, are ledgered to the athletic department instead of the general account. PSU has an almost half billion dollar renovation of their stadium not ledgered to their athletic department. The one standout item in revenues is the lack of alum donations. RU is around 8 million per year while the rest of the B1G is around 30 million per year.
If all schools used Rutgers accounting methodology, much larger deficits would be reported at all the schools.

This makes absolutely no sense. The NCAA has uniform accounting requirements to evaluate a university’s finances for athletics. See below:

• NCAA Agreed-Upon Procedures (AUP): Division I schools must complete an annual financial report, while Division II schools must complete an "agreed-upon procedures" report at least once every three years. These reports must be conducted by a qualified independent accountant and presented to the university’s president or chancellor.
• Annual Financial Data Submission: All NCAA members (Divisions I, II, and III) are required to submit financial data annually to the NCAA through the Membership Financial Reporting System (MFRS).
• Scope of Procedures: The mandatory, independent, third-party review includes a, comprehensive look at revenue, expenses, and capital related to intercollegiate athletics, including data from outside, affiliated groups (like boosters).
• EADA Reporting: In addition to NCAA requirements, institutions receiving federal funding must submit an annual report under the Equity in Athletics Disclosure Act (EADA), which outlines the financial performance of their men’s and women’s programs.

Purpose of the Procedures
These procedures are designed to ensure that university leaders (presidents/chancellors) are aware of all financial activities, including deficits, and to facilitate comparisons of financial data across institutions (via the Institutional Performance Program).

 

[GoCuse14]

Uh, no.

there’s only one person here who is confused.

There is no doubt that I am likely to be the one confused.

 

[Scarletnut]

This makes absolutely no sense. The NCAA has uniform accounting requirements to evaluate a university’s finances for athletics. See below:

• NCAA Agreed-Upon Procedures (AUP): Division I schools must complete an annual financial report, while Division II schools must complete an "agreed-upon procedures" report at least once every three years. These reports must be conducted by a qualified independent accountant and presented to the university’s president or chancellor.
• Annual Financial Data Submission: All NCAA members (Divisions I, II, and III) are required to submit financial data annually to the NCAA through the Membership Financial Reporting System (MFRS).
• Scope of Procedures: The mandatory, independent, third-party review includes a, comprehensive look at revenue, expenses, and capital related to intercollegiate athletics, including data from outside, affiliated groups (like boosters).
• EADA Reporting: In addition to NCAA requirements, institutions receiving federal funding must submit an annual report under the Equity in Athletics Disclosure Act (EADA), which outlines the financial performance of their men’s and women’s programs.

Purpose of the Procedures
These procedures are designed to ensure that university leaders (presidents/chancellors) are aware of all financial activities, including deficits, and to facilitate comparisons of financial data across institutions (via the Institutional Performance Program).

Then RU would be in violation if that were enforced. Our stadium bond is a hit to the athletic department. All athletic scholarships at RU are recorded as out of state tuition (even for in state recruits) which makes no sense.
Do you think PSU's athletic revenues were enough to offset the 500 million they are spend in renovations? BTW, UMich is also spending a fortune on stadium renovations. Also there is no financial date for private schools (Northwestern) and the military academies, all of which would fit that AUP that you posted.