Randolph Duke
THE DUKE
- Joined
- Nov 20, 2012
- Messages
- 2,484
NCAA member schools have an obligation to file financial disclosure statements with the NCAA on or before January 15 of each calendar year. Once these are filed, various reporters file FOIA requests to get the data reported and then start writing stories. The reports are incredibly detailed. Gross revenue and expenses for each institution, athletics revenue and expenses, book value of physical assets for the overall institution and the athletics department, revenues and expenses by individual sport, total debt for each university and for its athletics department and debt service for both the university as a whole and for the athletics department. As we are getting close to the reporting deadline, the reports should start being made public and we will get the numbers that have been reported. If there are any specific questions regarding this data, let me know and I will try to hunt the answers down.
As of the report filed last year, UT-Austin had 35,320 full-time undergrads, (51.8% female, 48.2% male). Operating expenses for the overall university were $2.249 billion. Total in-state costs for a full year were $24,272 in-state, $43,406 out-of-state. Most people are aware by now that Texas leads the nation in overall athletics revenue at $163,295,115. $39.2 mil of this was contributions by BMDs and other groups and foundations. Football operations generated $103.8 mil. Reported book value of facilities for the university as a whole was $2.449 billion (just physical facilities and equipment. Land value is not included in this number). Book value of athletics facilities was $294.8 million. The athletics department carried $232.6 million in outstanding debt and debt service was $17.6 million or roughly 10.8% of gross revenues. I don't know what the average interest rate is on the athletic program's debt, but if we assume a generous 3.5%, that works out to around $8.1 mil in interest and $9.5 in principal reduction. By comparison, the second largest revenue generator, Ohio State at $142.0 mil, had book value of athletics facilities of $227 mil, outstanding athletics related debt of $177 mil and was paying $17.3 mil annually in debt service (12.2% of gross revenues).
As for our neighbors, aggy had total university operating expenses of $1.299 billion, book value of physical facilities and equipment for the overall university were $1.393 billion and book value of athletics facilities of $103.2 million. OU had university-wide operating expenses of $825.4 million. Book value of university physical and equipment was $1.404 billion, book value of athletics facilities was $195.3 million. Operating expense for aggy's athletics department was $81.7 mil, for OU it was $98.2 mil.
There is a lot that can be gleaned from these reports. Even though we are carrying a higher level of debt than some other programs, our overall debt service (as a percentage of revenues) is below that of other other, similar-sized institutions. As an over-all university, operating expenses at UT-Austin are almost twice the size of aggy and three times the size of OU. As measured by book value of facilities aggy has fallen far behind both Texas and OU. This would be no surprise to anyone aware of just how dilapidated Kyle Field had become. Book value is determined by purchase cost, less depreciation, less debt. Aggy's new stadium is budgeted at $450 mil, against which they have issued $350 of taxable municipal debt (not tax-free municipal debt). Even when this facility is completed, aggy will, at best, catch up in facilities investment with OU and they will still lag far behind Texas. Interestingly, although they have a significantly smaller endowment that aggy and a much smaller operating budget, the book value of OU's university-wide facilities and equipment as well as they athletics facilities exceed those of aggy. Also, even though aggy had a similar undergrad enrollment of 36,418 (52.2% male, 47.8% female) and similar total enrollment numbers, their operating budget was half of UT-Austin's. I don't understand that (unless the average salary at UT is much higher than at aggy and unless the research at UT-Austin is far more complex).
It should be about 6 weeks before the new reports are available. Let me know any specific questions and I will do a follow-up to answer them after I see this year's numbers.
As of the report filed last year, UT-Austin had 35,320 full-time undergrads, (51.8% female, 48.2% male). Operating expenses for the overall university were $2.249 billion. Total in-state costs for a full year were $24,272 in-state, $43,406 out-of-state. Most people are aware by now that Texas leads the nation in overall athletics revenue at $163,295,115. $39.2 mil of this was contributions by BMDs and other groups and foundations. Football operations generated $103.8 mil. Reported book value of facilities for the university as a whole was $2.449 billion (just physical facilities and equipment. Land value is not included in this number). Book value of athletics facilities was $294.8 million. The athletics department carried $232.6 million in outstanding debt and debt service was $17.6 million or roughly 10.8% of gross revenues. I don't know what the average interest rate is on the athletic program's debt, but if we assume a generous 3.5%, that works out to around $8.1 mil in interest and $9.5 in principal reduction. By comparison, the second largest revenue generator, Ohio State at $142.0 mil, had book value of athletics facilities of $227 mil, outstanding athletics related debt of $177 mil and was paying $17.3 mil annually in debt service (12.2% of gross revenues).
As for our neighbors, aggy had total university operating expenses of $1.299 billion, book value of physical facilities and equipment for the overall university were $1.393 billion and book value of athletics facilities of $103.2 million. OU had university-wide operating expenses of $825.4 million. Book value of university physical and equipment was $1.404 billion, book value of athletics facilities was $195.3 million. Operating expense for aggy's athletics department was $81.7 mil, for OU it was $98.2 mil.
There is a lot that can be gleaned from these reports. Even though we are carrying a higher level of debt than some other programs, our overall debt service (as a percentage of revenues) is below that of other other, similar-sized institutions. As an over-all university, operating expenses at UT-Austin are almost twice the size of aggy and three times the size of OU. As measured by book value of facilities aggy has fallen far behind both Texas and OU. This would be no surprise to anyone aware of just how dilapidated Kyle Field had become. Book value is determined by purchase cost, less depreciation, less debt. Aggy's new stadium is budgeted at $450 mil, against which they have issued $350 of taxable municipal debt (not tax-free municipal debt). Even when this facility is completed, aggy will, at best, catch up in facilities investment with OU and they will still lag far behind Texas. Interestingly, although they have a significantly smaller endowment that aggy and a much smaller operating budget, the book value of OU's university-wide facilities and equipment as well as they athletics facilities exceed those of aggy. Also, even though aggy had a similar undergrad enrollment of 36,418 (52.2% male, 47.8% female) and similar total enrollment numbers, their operating budget was half of UT-Austin's. I don't understand that (unless the average salary at UT is much higher than at aggy and unless the research at UT-Austin is far more complex).
It should be about 6 weeks before the new reports are available. Let me know any specific questions and I will do a follow-up to answer them after I see this year's numbers.
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