FY 2010: K-State Athletics Reports . . .

[sonofdaxjones]

net operating income of $11.1 million, on gross operating income of $52.4 million. 

Net operating income was up approx $13.9 million dollars year over year, and gross operating income was up $5.01 million year over year.

[steve dave]

Yeah, we rough ridin' own

[WillieWatanabe]

for non smart guys...did we make more profit this year? tia

[pissclams]

for non smart guys...did we make more profit this year? tia

yes

[sonofdaxjones]

Texas . . . $143 million in Gross Revenue as reported to the DOE/Equity in Athletics.  $30 million in net revenue.

[mcmwcat]

so last year we lost $2.8 million?

[sonofdaxjones]

so last year we lost $2.8 million?

yep . . . losses on endowment holdings.

[mcmwcat]

endowments are part of operating budgets?

[sonofdaxjones]

endowments are part of operating budgets?

Well, that's a good question, but in FY 2009, at the end of the day, K-State felt to compelled to report the loss in endowment value as an operating loss.   I'd have to defer to the accountants beyond that.

[Sugar Dick]

endowments are part of operating budgets?

Well, that's a good question, but in FY 2009, at the end of the day, K-State felt to compelled to report the loss in endowment value as an operating loss.   I'd have to defer to the accountants beyond that.

mark-to-market accounting 

We better not be reporting gains in the endowment as NOI

[Rage Against the McKee]

endowments are part of operating budgets?

Well, that's a good question, but in FY 2009, at the end of the day, K-State felt to compelled to report the loss in endowment value as an operating loss.   I'd have to defer to the accountants beyond that.

mark-to-market accounting 

We better not be reporting gains in the endowment as NOI

Does this really matter for a tax-exempt entity?

[Sugar Dick]

endowments are part of operating budgets?

Well, that's a good question, but in FY 2009, at the end of the day, K-State felt to compelled to report the loss in endowment value as an operating loss.   I'd have to defer to the accountants beyond that.

mark-to-market accounting 

We better not be reporting gains in the endowment as NOI

Does this really matter for a tax-exempt entity?

Yes, need to know NOI to evaluate cash flow, unrealized gains in an endowment are not cash flow.  Cash can be used to buy nice things, stupid financial statements based on dumbass accounting rules cannot.