USA Today Athletic Department Finances

[SPEmaw]

Also, we make money because we're frugle where it's possible to be frugle. We're not wasting money on bringing in a big 4 firm to audit our books. Currier: "nothing more here to see, folks. count the beans and get out" I say we just hire Rod Vogt and let him audit our stuff. Conflict? That guy would blow a whistle on a missing receipt and he's EMAW to the bone...just in a weird, CPA kinda way.

[KITNfury]

I feel like I'm missing out on some good stuff there but I cannot stand to read through it.

Nothing says "We're Mizzou" more than that shitty message board format. Well, the word "jumbo" might.

[sonofdaxjones]

I don't think I am going to far out on a limb by thinking that since K-State Athletics operates under the umbrella of the university . . ..  and since K-State athletics receives some funds directly from K-State and also show's money that was borrowed with Regents/State approval on K-State athletic accounts etc. etc.   That the state, or at least the Regents could order a seperate audit of K-State Athletics pretty much any time they wanted.   

[kostakio]

Oh no guys.   According to Tigerboard K-State's revenues are all smoke and mirrors and even when they are shown the multiple accepted accounting rules that are applicable to K-State's AUDITED financial records they still try to say it's all smoke and mirrors.

Of course I've searched all over the place (because I'm weird that way) to find audited financial results for mu athletics and not just the sanitized reports they send to the DOE and the NCAA and I've yet to find one (meanwhile ku and K-State's has their AUDITED financial results publically available on their respective athletic department websites).

Then again, that is the same bunch that accepts every pro SEC article, even one's filled with nothing less than utter projective speculation as the absolute gospel truth, and any positive news for the Big 12 as nothing less then speculative conspiracy.

Not saying anything is going on about our audited financials. But always thought it was odd that a high profile university (any major one) would use a ma and pa local audit firm to audit their f/s. The same people signing off on our wonderful f/s are former graduates of Ksu and likely donors. They have a huge conflict of interest. Just saying it sounds odd. Would feel better if a national firm w no local ties was auditing that's all. Btw, according to their website 5 of 6 of their accountants are Ksu grads.

Not attacking you - you clearly said that you weren't suggesting any foul play.

My stance on this that it's totally like K-State to support a local CPA firm. An audit job like this is a huge deal and significant business for a small CPA firm. The firm's CPAs would lose their licenses and probably serve jail time if they cooked our books.

Mizzou is just going on a witch hunt since they're board being pud losers at everything.

I doubt the books are cooked.  The books were never cooked before under Krause or weiser.  There were just some bad practices going on that whoever was auditing us at the time either missed or looked the other way on. It wasn't brought to anyone's attention until a separate audit was ordered when Wefald retired. 

I'm talking about things like the related party loans made to weiser, contractual payments to Snyder getting duplicated, too much money running through a petty cash like account creating poorly documented transactions that the taxes were not handled properly on etc etc.  Whoever was doing the audit before was letting the ad get away with a lot of stupid stuff like this.  I don't know if it was this same firm or not but if it was they shouldn't be using them.  Roger sink the sr partner in the firm has been a donor and runs in the same circles as guys like Wefald and Krause.  That fact a lone is enough for me to say They should use someone else. 

[EMAWmeister]

The accrual basis of accounting... SMOKE AND MIRRORS!!!

[SPEmaw]

The accrual basis of accounting... SMOKE AND MIRRORS!!!