Memorial Stadium in Lawrence blows

[Scary Smart]

In terms of the stadium itself, KU's is far and away the worst in the Big 12. Claiming otherwise is hurting your other arguments in this thread, Beems.

[OregonSmock]

This is how KU fans view Memorial Stadium:










This is how K-State fans view Memorial Stadium:

['taterblast]

all those pictures look the exact same

[Jabeez]

This is how KU fans view Memorial Stadium:








This is how K-State fans view Memorial Stadium:

FYP

[0.42]

Non-Profit Accounting Basics:
FASB116 stipulates that "unconditional promises to give" are to be recorded at the time the NFP receives notification of the promise. This notification must be in written form, oral promises should not be recorded. FASB defines a condition as a "future and uncertain event" that must occur for the promise to give to become binding.

In many cases, the only notification an NFP receives is when they receive the contribution. In this case it is clear that the entire contribution must be recorded at that time.

However, in other cases the NFP will receive notification of a contribution prior to the actual receipt of the funds. In this case the NFP must determine if they have received an "unconditional promise to give", if so the revenue must be recorded.

If you're including Facilities in "Long Term Capital Assets" . . . upon completion, all facilities projects are transferred to the State of Kansas and are never shown on the books as an Asset of the Athletic Department.

i know some of these words

[kostakio]

"Long Term Capital Assets" are only shown on the books as . . . hang on here kids . . . as assets.

They're never shown as revenue.

Kids, just step back because Beems is just flailing. 

The facts are the facts, from an operational standpoint, K-State athletics operated well in the black in FY 2012, whereas ku athletics operated nearly $9 million dollars in the red in FY 2012.

Beems . . . you don't have the first clue:

The title rights to buildings and building improvements constructed and financed by K-State
Athletics, Inc. on property owned by the State of Kansas immediately transfer to the State.
Management has chosen not to amortize the improvement costs over the estimated useful life of
the assets as required by accounting principles generally accepted in the United States of
America. The statement of changes in net assets includes $13,974,978.51 and $2,993,286.06 of
transfers to the State of Kansas for capital expenditures related to buildings and building
improvements, for the years ended June 30, 2012 and 2011. The effect on the financial
statements from the departure in prior and current periods cannot be quantified from the
historical financial records.

Confused Beems Said:

Also, I've heard that K-State counts its long-term capital assets towards its current athletic revenue.

Well now that I've had a chance to look at the financial reports (the latest I could find for KU was 2011), I can see where the actual differences are.  KU transferred roughly $45 million in net assets back to the university in 2011.  This transfer is listed as "property and equipment," which I suspect is Allen Fieldhouse and the adjacent facilities that were renovated in 2010.  Meanwhile, K-State counts roughly $15 million in non-transferred assets towards its net worth.  Like I said all along... accounting gimmicks.

Looking at ticket sales, KU generated roughly $20.85 million in ticket sales, while K-State generated $14.91 million.  KU's total athletic revenue was $74.46 million, while K-State's was $63.56 million.  That's really pretty incredible considering how terrible KU's football program has been the past few years.

Do you realize assets have nothing to do with income?  Also KU has assets on their balance sheet just like KSU does.   Only buildings and expansions built on KS property get transferred to the state.  In 2012 KU had about $12.5 million in fixed assets on their books and KSU had around $6 million.  (The $15 million dollar number you gave was before accumulated depreciation).  KU's ticket sales in 2012 were around $18 million and KSU was just shy of $15 million. 

So far you have shown zero differences between the way KU and KSU account for anything.

Cash is an asset, and cash is what sparked this debate about five or six pages ago.  As for the differences in how KU and K-State handle their accounting, I've said all along that I think the difference is that KU keeps a lot of its donations in the Williams Fund and Endowment Association, while K-State counts those donations toward athletic revenue and keeps them within the athletic department.

I just thumbed through ku's report.  They have funds in the endowment but the athletic department recognizes a receivable from the endowment as an asset.  The Williams fund as far as I can tell is part of the ad and any contribution to the fund would be contribution revenue to the ad.  Any contributions that were later moved into the endowment would also be recognized as revenue when it was received by the ad.  I've spent a few minutes looking at this stuff and come to the conclusion there are no material differences in the way ku and ksu account for revenues or assets. 

[fun muffin]

Why anyone cares about this stuff is beyond me.

[star seed 7]

Why anyone cares about this stuff is beyond me.

BECAUSE BEEMS IS WRONG [redacted] 

[Dugout DickStone]

This is how KU fans view Memorial Stadium:










This is how K-State fans view Memorial Stadium:

Whoever took those first 2 used the wrong lens.

[kslim]

This is how KU fans view Memorial Stadium:










This is how K-State fans view Memorial Stadium:

lololol that should end the thread right there, KU fans perceive memorial as a painting and kstate fans view it as what it is

[PowercatPat]

http://espn.go.com/blog/ncfnation/post/_/id/62044/ranking-the-big-12-facilities-by-team

Kansas' facilities are nice, and like I said above, it's not all that far behind No. 4 Texas Tech, but the stadium is holding KU back.

[MakeItRain]

You can see the north, east, and west sides of the stadium in this pic and nothing about it says elite on-campus location.

[star seed 7]

Whoever took those first 2 used the wrong lens.

and forgot to draw stink lines.

[kslim]

 The 3 peat is really killing you right now isn't it ben

[Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)]

I like the Ku fans view the stadium as a finger painting talking point

[Havs]

Since there is a lot of banter that may have overshadowed the important part of this entire thread... http://bleacherreport.com/articles/1145292-power-ranking-all-124-college-football-stadiums/page/94

[Super PurpleCat]

Since there is a lot of banter that may have overshadowed the important part of this entire thread... http://bleacherreport.com/articles/1145292-power-ranking-all-124-college-football-stadiums/page/94

That list has Clemson as #1.   

[sonofdaxjones]

Also, I know 'Pad loves to talk about long-term debt, so I figured I'd mention that K-State's financial report shows roughly $81.38 million in total long-term debt.  KU's is a little over $56 million.

I've recognized that a long time ago and it really speaks volumes.   ku athletics for the past few years could not get anymore state backed bonds.  It's one of the reasons why Cheyenne Zulu had to go borrow $39 million dollars from the ku endowment, and it's one of the primary reasons why the Gridiron Club didn't get built.   K-State got the bonding because a huge portion of of the facilities being built were actually revenue generating buildings.   Almost the entirety of the WSC generates revenue.   Lew was using bond money to build fancy new offices for himself and hang artwork on the wall, very little of the bonds ku floated went to any net new structure that actually generates revenue.   AFH would generate revenue even if the paint was peeling off the walls.   

Plus, I am sure you only looked at the Long Term Bond debt, has ku paid the $6 million dollar loan they took from an individual for the new football building, and like I said, ku just added another $39 million dollars in debt.   

[kostakio]

Also, I know 'Pad loves to talk about long-term debt, so I figured I'd mention that K-State's financial report shows roughly $81.38 million in total long-term debt.  KU's is a little over $56 million.

I've recognized that a long time ago and it really speaks volumes.   ku athletics for the past few years could not get anymore state backed bonds.  It's one of the reasons why Cheyenne Zulu had to go borrow $39 million dollars from the ku endowment, and it's one of the primary reasons why the Gridiron Club didn't get built.   K-State got the bonding because a huge portion of of the facilities being built were actually revenue generating buildings.   Almost the entirety of the WSC generates revenue.   Lew was using bond money to build fancy new offices for himself and hang artwork on the wall, very little of the bonds ku floated went to any net new structure that actually generates revenue.   AFH would generate revenue even if the paint was peeling off the walls.   

Plus, I am sure you only looked at the Long Term Bond debt, has ku paid the $6 million dollar loan they took from an individual for the new football building, and like I said, ku just added another $39 million dollars in debt.   

KSU has $49 million in cash and KU has $4 million in cash.  K- state is generating operating profits and cash flow and ku is incurring losses and burning cash.  So yes ksu has more debt but is in a substantially better position to cover their debt it's not even close.

[scottwildcat]

Also, I know 'Pad loves to talk about long-term debt, so I figured I'd mention that K-State's financial report shows roughly $81.38 million in total long-term debt.  KU's is a little over $56 million.

I've recognized that a long time ago and it really speaks volumes.   ku athletics for the past few years could not get anymore state backed bonds.  It's one of the reasons why Cheyenne Zulu had to go borrow $39 million dollars from the ku endowment, and it's one of the primary reasons why the Gridiron Club didn't get built.   K-State got the bonding because a huge portion of of the facilities being built were actually revenue generating buildings.   Almost the entirety of the WSC generates revenue.   Lew was using bond money to build fancy new offices for himself and hang artwork on the wall, very little of the bonds ku floated went to any net new structure that actually generates revenue.   AFH would generate revenue even if the paint was peeling off the walls.   

Plus, I am sure you only looked at the Long Term Bond debt, has ku paid the $6 million dollar loan they took from an individual for the new football building, and like I said, ku just added another $39 million dollars in debt.   

KSU has $49 million in cash and KU has $4 million in cash.  K- state is generating operating profits and cash flow and ku is incurring losses and burning cash.  So yes ksu has more debt but is in a substantially better position to cover their debt it's not even close.

BOOM FINANCED

[Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)]

You know you're absolutely clowning someone when your cash position is better than your competitions LT debt position.  I bet KState's DSCR is like 10x and kus is less than 1.


Basicly kstate is an AAA credit and Ku is junk bond to near default status.

[scottwildcat]

You know you're absolutely clowning someone when your cash position is better than your competitions LT debt position.  I bet KState's DSCR is like 10x and kus is less than 1.


Basicly kstate is an AAA credit and Ku is junk bond to near default status.

BOOM BOND SMACK

[EMAWzified]

Since there is a lot of banter that may have overshadowed the important part of this entire thread... http://bleacherreport.com/articles/1145292-power-ranking-all-124-college-football-stadiums/page/94

Do they have valet boat docking at JT?

[slobber]

It's smart people in threads like this that make me proud to be a goEMAW.com registered <premium> member.

[deputy dawg]

KU approaching credit leper status.