On Jun 13, 2013, at 8:46 AM, Shane Ford wrote:
The UAA also is paying $4 million to UF — a drop of $1.7 million from this year. Since 1990, the UAA has paid $73.9 million to UF. It helped UF during the past few budget cycles when the state's economy was in a downturn. The contribution was reduced for 2013-14 because the Legislature restored university funding levels and gave UF an additional $15 million to hire faculty and $43 million for capital improvements and maintenance repairs
Seth & Amy: Really?
I call B.S.
In 2010, UF's expenses were $4.587 billion. That is with a "B."
In 2010, UF lost $263 million dollars.
How did the UAA's extra 1.7 million mean more than a drop in the bucket to a 4.6 billion balance sheet bleeding red ink to the tune of $263 million (down from a loss of $294 million the year before).
UF rates to be in the black this year, thanks almost entirely to trimming its expenses by over $600 million from 2010.
It's general revenue is down by 37 million, and its money from the state lottery is down by 11 million, so I don't buy the claim that the UAA reduced its contribution due to an influx of state funds to UF.
I would wager that the 4 million the UAA gives to UF is about even with tuition/room/board for scholarship athletes.
It seems like a symbiotic relationship. UAA gets to use UF's name recognition and alumni base to run a profitable 100 million dollar company. UF gains the recognition of a first class athletic department to enhance school pride and attract talented students.
But, realistically, the UAA's contributions to a 4+ billion dollar budget don't amount to a hill of beans one way or the other.
BTW, UF is expected to have a 322 million surplus this year. Take away the UAA's contribution, and the surplus is 318 million. I doubt it would be noticed.
-Zeb
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