Required Donation for Parking for 2013-2014 Season
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Re: Required Donation for Parking for 2013-2014 Season
Required Donation for Parking for 2013-2014 Season
Owl2Doc said
Just out of curiosity, does anyone know where this money actually goes? Scholarships? Or is it contributed to a slush fund, "to areas of greatest need?"
Because I don't think it's to offset stadium debt. Last year the BOT approved an increase in athletics fees to pay for the debt service on the stadium; in the presentation to the board, for 2012-2013:
"The Athletics Local Budget totals $22,969,903 in projected expenditures, an increase of 25.9 percent over the prior year. The significant increase in expenditures in 2012-13 is due largely to inclusion of the second year stadium operation with total of $5,413,850 in expenses, including $2,620,085 budgeted for debt service payments on the stadium."
"Funding is generated from student athletics fees ($17.27 per-credit hour, which is a five percent increase from 2011-12) as well as ticket sales to athletics events, game guarantees, NCAA distributions, sponsorships and private support."
So if I'm reading this right, it sounds like last year's increase in Athletics Fees covers the debt service on the stadium. If that's the case, attendance/game guarantees/naming rights/parking are all nice but not required to make budget, so they really don't have to put the cart before the horse and price people out of their interest in Athletics before the demand is there, right?
I posted this earlier when this came up. The OSF is to cover all athletic scholarships. There is a bylaw of a minimum amount we must fund to remain a D1 program (I don't recall the number right now but I THINK it's $4MM) and we literally just get past that mark. Our scholarships are so tight, we cannot afford to keep kids on campus over the summer and completely monitor what they do.
This money will not go towards the stadium debt service, that will come from the mandatory donation for the premium seats and other areas.
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