The K.C. STAR in a series of articles reported on the financial status of the three local FBS school's athletic departments -- Kansas, Kansas State and Missouri -- citing documents reported to the NCAA. The STAR's Rustin Dodd reported KU "enjoyed an increase in total operating revenue for the second straight year, bringing in a record" $97.7M during FY '14, which ended June 30. KU also "spent more than ever before," reporting more than $90M in expenses during '14, an increase of nearly 13% over last year’s reported $79.7M in expenses. School officials said that the operating revenue figure was "slightly inflated by a major capital donation for a new on-campus apartment complex that will house Kansas basketball players." KU reported $29.5M in contributions, "otherwise known as gifts and booster donations," down from the '13 total of $32.9M. Kansas CFO Pat Kaufman said that that figure was "partially inflated after a change in the fundraising calendar caused more than a year’s worth of contributions to be counted" in '13. KU also "received a record" $22.3M in revenue from the Big 12 and NCAA, up from $20.7M in '13 (K.C. STAR, 2/12).
|
KANSAS ATHLETIC FINANCES
|
| CATEGORY |
FY '14
|
FY '13
|
| Operating Revenue |
$97,681,066
|
$93,114,168
|
| Operating Expenses |
$90,056,511
|
$79,720,036
|
| Football Revenue Minus Expenses |
$8,333,128
|
$6,618,946
|
| Men's Basketball Revenue Minus Expenses |
$9,774,642
|
$5,688,260
|
PURPLE PROFITS: The STAR's Kellis Robinett reported K-State is "well positioned to remain profitable in future years" after reporting more than $72.9M in revenue during FY '14, which ended June 30, and "spending close to" $62.6M. The school's $10.3M operating profit "was its lowest" since '09 -- a 6.95% decline from '13 and a "steep fall from 2011 when myriad donations toward the West Stadium Center" led to $23.4M in profit. But K-State AD John Currie said that he "thinks it represented a positive step." K-State set "all-time highs for athletic revenue, expenses, football revenue, ticket sales and concession sales" in '13-14 and is "projecting a budget" of $65.6M for FY '15. That number "will likely increase" in '16 (
K.C. STAR, 2/12).
|
KANSAS STATE ATHLETIC FINANCES
|
| CATEGORY |
FY '14
|
FY '13
|
| Operating Revenue |
$72,935,044
|
$70,457,283
|
| Operating Expenses |
$62,576,606
|
$59,325,573
|
| Football Revenue Minus Expenses |
$27,866,228
|
$26,234,674
|
| Men's Basketball Revenue Minus Expenses |
$5,502,528
|
$5,592,763
|
EARNING THEIR STRIPES? The STAR's Tod Palmer reported Missouri's annual operating revenue grew nearly 10% to $83.7M during FY '14, but "outstanding debt climbed" by nearly $60M and expenses "also increased." The university reported revenue close to $3.5M more than expenses in its second season in the SEC, which "marks a decline" from FY '13, when MU reported an operating profit of more than $6M, but "continues a positive trend since the Tigers left the Big 12." MU was "one of only 20" FBS athletic departments with greater revenues than expenses during '13. MU "reported operating revenue of $83,718,587, an increase" of more than $7.4M from '13. Expenses in '14 "climbed nearly" $10M to $80,230,179. Most of the additional expense came from a 59.6% increase "for facilities, maintenance and debt service." Preparation for SEC Network TV coverage "accounted for the rise in facilities costs," while the travel budget "swelled primarily from the football team’s appearances in the SEC Championship Game and Cotton Bowl." Increasing charter costs "were also a factor for all sports" (K.C. STAR, 2/12).
|
MISSOURI ATHLETIC FINANCES
|
| CATEGORY |
FY '14
|
FY '13
|
| Operating Revenue |
$83,718,587
|
$76,306,889
|
| Operating Expenses |
$80,230,179
|
$70,276,015
|
| Football Revenue Minus Expenses |
$14,229,128
|
$14,524,330
|
| Men's Basketball Revenue Minus Expenses |
$6,309,354
|
$6,210,204
|
