First UNI, Now MSU?

[MoValley John]

Hold the presses!!!!!
I get it now. Missouri State is in fine shape, the audit proved it.

I guess in reality JQH is losing money and MSU, which boasts a fine ccounting department, can't keep proper spreadsheets! Compensating basketball coaches without documentation? Football coaches too? Errors in excess of FIVE MILLION DOLLARS????

I'm starting to understand the TWELVE MILLION DOLLARS in value added adventure revenue in the athletic department. Thanks.

Here is the linky to the topic on msubearnation:
http://www.msubearnation.com/forum/showthread.php?19308-MSU-s-audit-report

Highlights:
Missouri State University was unable to easily and accurately produce basic financial reports. Many of the reports requested during our audit work, including basic budget to actual comparison reports; statements of revenues, expenses, and changes in net assets; and profit/loss statements for various funds, departments, auxiliaries and service centers, had to be created by financial services employees. These reports contained several errors made by management and staff when obtaining the information from the computer system and creating the reports. In addition, the system does not clearly identify which expenses have been reimbursed by the foundation. Further, the university has not properly allocated some expenses, such as expenses associated with the Child Development Center, personnel expenses related to the JQH Arena and the Hammons Student Center/Plaster Sports Complex and faculty salaries at the School of Social Work. Finally, the university's statements of cash flows for the year ended June 30, 2008, contained a transposition error of approximately $5 million.

The university compensated the Men's Head Basketball Coach $96,000 in "promotional compensation" without requiring documentation of the promotional activities performed. The Associate Head Football Coach and one Assistant Football Coach did not submit a report of all athletic related income and benefits received from sources outside the university as required by the NCAA and their employment contracts. Additionally, the university made vehicle allowance payments totaling $93,200 to 18 employees, but did not have documentation to support how these amounts were determined. Further, the university's gift policy needs clarification.

I had the internal report read to me last night, and I wanted to curl up into a ball and not tell people I was educated at Missouri State after some of the things they found. Come on MSU, get your stuff together.

That said, this made us look really bad and gives people plenty to attack us on.... JQH was a big mistake right now and is losing money hand over fist... we either need to figure out how to make it self sufficient (like was promised) or drop sometihng like football to divert the money over there, taking it from the other funds on campus is completely BS....



Yep, every school that is serious about athletics needs to bail on the MVC. Now!

[DoubleJayAlum]

I read the article as saying MSU took $7 million from the school's general fund (or student fees) this past year. That sounds fairly typical for a school their size.

UNI is not, and was not, in danger of dropping down a division. That option was never really on the table. The study clearly showed dropping to Div. 2 would not save money, in fact, we would probably need even more general fund support. UNI is D-1 or nothing, and thankfully the Board of Regents saw the value UNI athletics brings to the university as a whole.

As for your last point, as I said before UNI football will support itself (and probably other programs) going forward with the addition of a second road guarantee game every few years.

You can put as much lipstick on it as you want, but it is still a pig. The fact of the matter is that these institutions are going to be pinching every penny from now on, be it because of political pressure or something else. Indiana St and Evansville are in the same boat, albeit for completely different reasons.

For the first time, I am seriously concerned about the long term viability of our conference. If so many of our member schools are in such dire economic straits that they have to resort to tactics like threatening state boards about dropping down a classification, it is not a good sign. Good for UNI for making them blink this time, but who knows what happens next time. While UNI FB may be able to break even by selling its football team to another BCS school for a few games, I am certain that some of our other members are nowhere near that close to breaking even.

If schools are pinching pennies that tightly, it makes it hard to build and maintain winning programs. I also think it will make it hard to retain coaches because 1) they can get paid much more elsewhere; but also because 2) they don't like having their recruiting budgets cut, losing control of setting the schedule, etc. I am convinced that reason #2 had a lot to do with McKenna deciding to bail on Indy St. and could impact coaches like Jacobsen down the road.

[beatingrillz]

The Value added is any money from concessions, clothing, cattle sales, wine grant and the new addition of the Missouri School of Agriculture. Last year the Ag department was on the books against the university while the grants for the school were listed seperate from the general fund. This is not to say the school is operating in the black but they are not struggling near as much as the aduit implied I think money will continue to be an issue. As for the issue of JQH I think most fans love the new arena and are hoping with the increase in season ticket sales this year on both the mens and womens side and the addition of a new ticket structure should help with the red numbers.

[MoValley John]

The Value added is any money from concessions, clothing, cattle sales, wine grant and the new addition of the Missouri School of Agriculture. Last year the Ag department was on the books against the university while the grants for the school were listed seperate from the general fund. This is not to say the school is operating in the black but they are not struggling near as much as the aduit implied I think money will continue to be an issue. As for the issue of JQH I think most fans love the new arena and are hoping with the increase in season ticket sales this year on both the mens and womens side and the addition of a new ticket structure should help with the red numbers.

I can hear the facepalms being done in Missouri right now. Your fellow Bear fans just did a collective WTF. Who in their right mind would discuss and attempt to defend the financial well being of an athletic department by bringing up cattle sales? For the record, the NCAA doesn't sanction cattle sales. Wrestling, yes, cattle sales, no. Cattle sales has nothing to do with athletics.

Cattle sales!!!!

[beatingrillz]

You asked I simply stated what it was. When the school needs money they can borrow it from several different place most recently they borrowed money against the school cattle herd.

[MoValley John]

You asked I simply stated what it was. When the school needs money they can borrow it from several different place most recently they borrowed money against the school cattle herd.

Just stop. Please. Please, please stop!

[beatingrillz]

They can laugh all they want but its not the Athletic department that is short 7 mil and even the university isnt short 7 mil it is opperating 100% in the black with the help of donations and other revenues. Just because the means is odd doesn't change how the fact that the money is there.

[MoValley John]

They can laugh all they want but its not the Athletic department that is short 7 mil and even the university isnt short 7 mil it is opperating 100% in the black with the help of donations and other revenues. Just because the means is odd doesn't change how the fact that the money is there.

Several universities own cattle herds, there is nothing funny about that. The fact of the matter is this, if your athletic department is drawing revenue from general funds to make ends meet, your athletic department is not in the black, it doesn't matter if your school has the biggest herd in the world.

And once academia and politicians start attacking your athletic budget, you are in trouble. This has happened, did you read the article in the News Leader? Cattle herd or not, this stuff doesn't go away. And as far as your audit, that was just embarrassing to read.

[unipanther99]

In a sea of negativity, here's a positive story. UNI grad donates 10 million for scholarships.

http://wcfcourier.com/news/local/articl ... 868c6.html

[beatingrillz]

you right I give up, every school has the luxury of the Journigans.