Nothing surprises me these days.
I read a pretty good breakdown of ku and K-State's financial record by a financial guy in Tuck land. He pointed out some things I've noticed over the years, and a couple of other things that have come to light lately. A couple of examples: ku athletics counts property like AFH as an asset. How do you count facilities that are technicially state property the moment they are built as an asset for a non profit athletic corporation ultimately operating under the umbrella of a state institution? In fact Allen Fieldhouse is still technically a Kansas National Guard Armory I believe, at least that's how they got money to build it. K-State athletics DOES NOT count its facilities as assets.
ku as of the end of FY 2010 had $82 million dollars in liabilities on the books, K-State had $32 million. K-State had $11 million in bonds outstanding, KU had $45 million in bonds outstanding, plus another loan for $6 million outstanding on their relatively new football facility. ku athletics owed various departments on campus over $15 million dollars and from what I've heard they still owe ku parking services an a$$ load of money and that's causing a real problem.
Like I've said before, the ONLY reason ku athletics finished the last reported on Fiscal Year in the Black was because of the $3.5 million dollars in student fees and instutional support they collected.
