KU, K-State, Mizzou All Report FY '13 Surpluses Based On Contributions, Ticket Sales
The Univ. of Kansas saw a "record-breaking year" in FY '13, as it reported $93M in revenue and "boasted the third-highest athletics revenue in the Big 12 behind football powers" Texas ($165.7M) and Oklahoma ($123.8M), according to Rustin Dodd of the K.C. STAR. The $93M, when factoring in KU's reported expenses of $79.7M, "resulted in a surplus" of more than $13M. However, school officials said that a closer inspection "tells a more complete story." KU CFO Pat Kaufman said that much of the surplus is "due to future pledges and donations that had to be counted this year because of accounting rules." He added that a change in the department's fundraising cycle "caused nearly a year and a half's worth of contributions to be counted" in '13. The school counted nearly $33M in contributions, up from $22.4M the year before. KU officials said that the department's operating expenses, which increased from nearly $79M to $79.7M over the last year, are "a better reflection of the amount of cash the department brings in each year." Kaufman: "We really don't have a significant cash surplus. We pretty much know what our revenue numbers are going to be, and we budget to live within our means" (K.C. STAR, 3/29).
MADE IN MANHATTAN: In K.C., Kellis Robinett noted Kansas State Univ.'s athletic department in FY '13 "brought in more revenue than ever," but its expenses "also hit an all-time high." The "end result" was a surplus of roughly $11.1M, down 9.33% from the year before. KSU reported nearly $70.5M in gross revenue and more than $59.3M in operating expenses. The "bulk" of the school's revenue "came from its football program." KSU's gross football revenue reached $42.2M, "maintaining a rapid ascent" from $35.8M in '12 and $23.5M in '11. Net football revenue in '13 was $26.2M. Another "notable increase came in royalties and licensing," as KSU made $2.3M in that category in '13, up 17% from the year before. The school also profited more than $15M "off of ticket sales," received nearly $18M in "contributions," and took in nearly $25M from the NCAA and Big 12 (K.C. STAR, 3/29).
SOUTHERN COMFORT: In K.C., Tod Palmer noted the Univ. of Missouri athletics department saw a 50% "jump in operating revenue" for FY '13, "raking in" $76.3M compared to $50.7M in '12. Much of the increase "was expected," as MU "received only" $1.81M in NCAA and conference revenue in FY '12 after leaving the Big 12 for the SEC. But during its first year in the SEC, the school received $21.1M, which "accounts for most -- but not all" -- of the $25.6M revenue boost. Ticket sales and contributions "spiked" in '13, including an increase of $3.6M for football ticket sales, which represents a 22.25% jump. FY '13 ended June 30, so those sales "do not reflect last season," when the football team "matched the school record for wins, going 12-2 and winning the SEC East division championship as well as the 2014 Cotton Bowl" (K.C. STAR, 3/29).