Those debt numbers are understated. I know Michigan and Texas are over $300m. And this is why I always say the annual budgets reported and discussed are not the entire picture. Donations meant to fund new facilities are plowed into revenues, and instead facilities are funded with debt. That's just one problem. There are many more.
Michigan's current budgeted debt service is 6,480,000. I'm not sure that can be translated to a $300m balance without a very low interest rate, but I'm too tired to do the math.
Non public financing of facilities and payment of coaches' salaries is pretty much the rule for the large public Florida universities...(example although Jimbo is paid over $5 million a year, his state paid salary is $240,000)
"But Florida State University is a public university and is funded by state dollars. So, technically every dollar the university gets belongs to you, the taxpayer. So, why is the athletic department separate?
Officials say it's through ticket revenue, licensed product revenue and Seminole Booster funds that pay athletic salaries. In a sense they fund themselves."
The mandate is to stay in the black.
FSU can not rely on public money for stadium construction /renovation....the Seminole Boosters have been responsible for the building and recent $85 million dollar renovation of the stadium (the second largest continuous brick structure in the world, after the Great wall of China).
The University does sell the bonds but debt service is assumed by the Boosters as a Direct Service Organization.
The larger programs, Michigan, Ohio State, Alabama, Texas, etc. have access to larger private revenue streams and have large booster bases that give them an advantage in fund raising over some other P5 programs.
The University does sell the bonds but debt service is assumed by the Boosters as a Direct Service Organization.
VThis is as phony as phony gets.
Just not true.
Texas has huge liabilities paid for by the academic side. They don't show up on the athletic accounting. AND, how in the world are you arguing that branding and ticket revenue or booster donations is somehow not part of the salary he is making from a public entity? After al, the money belongs properly to the school, not the coach. It's just shifting money from one place to another. Just like Texas gives 100% of its branding to athletics. That is school money anyway you cut it. If the distinction is then that the source of the money is what counts, taxpayer outlay versus other sources, you better look at a university budget. Many of these schools have very low taxpayer support. A school like Penn State for instance is under 10% taxpayer and approaching 5%. The big bulk of it comes from the endowment (private) and research grants (mostly private). The other chunk is tuition.
It's crazy to make this argument. The only reason people cut things up like this in the first place is optics. But everyone readily acknowledges that the coach's real salary (as quoted in the media) is that which he derives from all sources. In other word, no one is fooled by this.
V
Seminole Boosters is a private non profit DSO organization and it's donations, money raising, etc are in no way public monies generated from taxes (general revenue tax) in Florida.
When they develop a property for instance (from donated land) and use it to produce revenue to support athletics, it is completely separate from the public university and it's academic funding.
See College Town...a Seminole Boosters development.
Welcome to FSU College Town - the Entertainment District in Tallahassee, Florida: Home: FSU College Town at Madison Street
I don't know what part you do not understand...boosters at FSU they do not donate to the athletic department...they donate to a private non profit organization...who is authorized to support certain activities...it is not "public money", it is not tax derived money....
Sure..the University lets the bonds...but they do not make payments...the private non profit does...and in Florida..they are intertwined..
The DSO plans, constructs, and pays for the facilities....the Seminole Boosters does operate with a high debt burden...but that is the result of the recent $85 million upgrades in the stadium, the new indoor practice facility, the new basketball locker room, the multiple facilities constructd at College Town..etc.
It is counted...only after the Seminole Boosters donate it to the AD....The University does take in direct donations, although those support the academic side, funded chairs, etc.
The Florida State University Athletics program is completely self-sufficient and does not receive funding from the State of Florida or Florida State University. Funding for the entire athletics budget is comprised of revenues generated from Atlantic Coast Conference distributions, sponsorship agreements (via Seminole IMG Sports), ticket revenue and generous contributions from over 18,000 Seminole Booster members. In Fiscal Year 2013-14, Seminole Boosters supplemented the athletics operating budget by transferring $24M to help cover the cost of scholarships, maintain and upgrade some of the best collegiate facilities in the nation and provide our student-athletes with academic and medical services that give them the winning edge in the classroom and in competition.
Double sigh...The student activity fee (which is what the subsidy is). pays for a large range of intramural sport activities, and for students to get free tickets to football and basketball games. At some institutions students must purchase tickets, at FSU they are included in the activity fee.
You and I will just disagree....the school does not construct or improve the sports facilities, has the athletic debts paid by the DSO, and the athletic department is self sufficient...it is the way it is.
You are ridiculous...I said that the University lets the bonds...but the DSO (Seminole Boosters, Inc) designs, constructs, and pays the debt..as a body authorized by the legislature and the Board of Governors to act on FSU's behalf.
And...16,000 student tickets are allotted that are paid for from the activity fee...16,000 tickets X 7 home games equals over 100,000 individual game tickets. Plus basketball.
"Certain categories of students, such as students enrolled at the Panama City campus, Sarasota campus or though Distance Learning, do not pay the full athletics fee and therefore are not eligible for student tickets on a game-by-game basis through this process. However, students that fall into these categories have the option to purchase a discounted student season ticket if they would like to attend games. "
If you haven't toured a major university's intramural facilities...you won't get a feel for the the cost of the building and maintenance swimming pools, volleyball courts, gyms/basketball courts, soccer, rugby,and softball fields..and the Seminole Golf course.
Seminole Golf Course |
40,000 students pay a $225 activity fee...and have access to an FSU golf course ( pretty damn nice University owned club, gyms, pools, intramural fields, courts,...and, on a first come basis system , receive over 100,000 football tickets free and basketball tickets.
Oh great...you sat on an AAU school committee...and I once lobbied FSU budgets and provided legal/policy support to the BOR...so what?
This is done and we have bored a lot of folks.....You want (must) believe that which you must believe for whatever reasons.
But...
FSU's AD receives zero monies from taxpayers, from the university..and is self sustaining. That is a fact, jack.
Yes, 40,000 + students pay a $225 activity fee which is counted as a subsidy on a report....and yes, this fee includes free student tickets to 113,000 student/games on a first come basis, basketball tickets, and a panoply of sports/recreation activities.