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Mods, if you could delete the original post. I will repost with the correct links and embedded pictures. I screwed up on this one. DO OVER!!
Would love to see a detailed balance sheet, cash flow and income statement for the last 100 years. I would like to see the current depreciation schedule for Reynolds and the new indoor practice facility. A non-cash depreciation expense is part of that 86mm.
Fastback, I agree that seeing a bit more transparency in regard to where the money has been spent delineated according to a line-item breakdown would be in order. I also would not hold my breath as to receiving any such information. And as for Reynolds and the renovation, that is a huge sore spot for many solid donors. I graduated from State in December of ’98, and personally would like that building to remain viable for all sporting endeavors, including men’s basketball games; however, I understand the trepidation and consternation for those who feel it was a money sump. If I had more skin in that game, I would have more empathy for those who have contributed much more than I. It is one of the few museum pieces from my time at State that I want to remain.
Submitted for clarity. This post was atrocious, and I apologize again for it. I have the important links located below to help with the discussion.
Link to NC State’s 2017-2018 Revenues for Athletics
Link to NC State’s 2017-2018 Expenses for Athletics
Link to NC State’s Athletics Expenses from 2010-2018
These are the photos I failed to embed properly. If someone, a mod let’s say, would like to embed these properly, I would greatly appreciate it. If not, that’s cool too.
I just thought someone might look at these numbers and come to the conclusion that we are overspending by 3mm. Reynolds was 35mm, the outdoor facility was 4mm and I’m not sure how the cost of the new bb dorm will be handled. There’s that 51% general students and 49% students athletes formula that is popular these days. I don’t know how the cost is allocated between the university versus the atlethic department. There was a discussion of allowing corporations to accelerate depreciation expense in the new tax code. So that 86mm could contain 5-10mm in depreciation expense for non-reoccurring facility projects. That’s a non cash expense that doesn’t reduce cash flows on an annual basis. I’m not judging individual projects. I’m glad Reynolds is still there and operational.
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