HunkerDownDawgs said:
AirForceDawg said:
University of Georgia Annual Financial Report Fiscal Year Ended 30 June 2020
UGA Athletic Association, Inc.
Total Assets: $447,727,720
- Total Current Assets: $62,373,877
-- Cash and Cash Equivalents: $60,047,599
-- Accounts receivable, net
--- Component Units: $58,884
--- Primary Government: $35,451
--- Other: $1,934,714
-- Prepaid items: $297,229
- Total Non-Current Assets: $385,353,843
-- Investments: $49,827,507
-- Other Assets: $247,930
-- Capital Assets, net: $335,278,406
Deferred Outflow of Resources: $13,653,582
Total Liabilities: $140,724,396
- Total Current Liabilities: $53,020,050
-- Accounts Payable: $2,712,386
-- Salaries Payable: $2,890,840
-- Due to Primary Government: $7,851,616
-- Advances (including tuition and fees): $33,780,208
-- Revenue Bonds and Notes Payable: $5,785,000
- Total Non-Current Liabilities: $87,704,346
-- Other Liabilities: $247,930
-- Notes and Loan Payable: $1,000
-- Revenue Bonds and Notes Payable: $82,389,961
-- Interest Rate Swap: $5,065,455
Total Net Position: $320,656,906 (+$112,785,280 in the last four years)
- Net Investment in Capital Assets: $255,690,572
- Unrestricted: $64,966,344
If UGA is just hoarding cash and not spending it because it is interested in winning the cash reserve trophy, where would I find the additional $113 million in cash that is over and above whatever the cash balance was four years ago? My point is that you won't find the "extra cash" on the balance sheet because we spent it on new capital assets, which are all of those things everyone is here saying they want more of. If I knew how to look up UGA Athletic Dept's balance sheet (I could only find its income statement), my guess is that the net investment in capital assets is where you are going to find all of those profits people are talking about here. For example, in the same four year period being referenced here, Georgia has either undertaken or completed $182.5 million in new construction. That includes the Payne Indoor Athletic Facility ($30.5 million), the West End addition at Sanford Stadium ($63M), the grandstands at the Dan Magill Tennis Complex ($8M) and the ongoing construction of the football-operations addition at the Butts-Mehre complex ($80M).
UGA Athletic Association, Inc. has donated $99M in profits to the school since the summer of 2006. What would UGA Athletic Association's cash reserve fund look like now if they hadn't donated it? What would UGA's athletic program look like if it had been invested in its 21 teams instead? Per former UGA President Michael Adams, UGA's athletic department has been financially in the black since the 1990s, so cutbacks weren't necessary. However, since they decided to transfer profits (Adams' brainchild) outside the department, the athletic program has faltered.
National Association of Collegiate Directors of Athletics (NACDA) Directors' Cup Standings:
2020-'21: TBD - $4.5M UGAA profits donated to UGA
2019-'20: tied 61st nationally, tied #7 SEC (AD Greg McGarity) - note: midyear rankings; spring season cancelled b/c of COVID-19 - $5M UGAA profits donated to UGA
2018-'19: 21st nationally, 5th SEC (AD Greg McGarity) - $4.5M UGAAA profits donated to UGA
2017-'18: 8th nationally, 2nd SEC (AD Greg McGarity) - $4.5M UGAAA profits donated to UGA
2016-'17: 15th nationally, 4th SEC (AD Greg McGarity) - $5M UGAAA profits donated to UGA
2015-'16: 15th nationally, 3rd SEC (AD Greg McGarity) - $5.5M UGAAA profits donated to UGA
2014-'15: 14th nationally, 2nd SEC (AD Greg McGarity) - $5.5M UGAAA profits donated to UGA
2013-'14: 16th nationally, 4th SEC (AD Greg McGarity) - $5.5M UGAAA profits donated to UGA
2012-'13: 10th nationally, 3rd SEC (AD Greg McGarity) - $2M UGAAA profits donated to UGA; $30M from UGAAA's cash reserve moved to UGA Foundation
2011-'12: 18th nationally, 3rd SEC (AD Greg McGarity) - $4M UGAAA profits donated to UGA
2010-'11: 20th nationally, 3rd SEC (AD Greg McGarity) - $6M UGAAA profits donated to UGA
2009-'10: 20th nationally, 4th SEC (AD Damon Evans) - $5M UGAAA profits donated to UGA
2008-'09: 18th nationally, 3rd SEC (AD Damon Evans) - $4M UGAAA profits donated to UGA
2007-'08: 10th nationally, 3rd SEC (AD Damon Evans) - $4M UGAAA profits donated to UGA
2006-'07: 12th nationally, 3rd SEC (AD Damon Evans) - $4M UGAAA profits donated to UGA
2005-'06: 9th nationally, 2nd SEC (AD Damon Evans)
2004-'05: 7th nationally, 2nd SEC (AD Damon Evans)
2003-'04: 5th nationally, 1st SEC (AD Vince Dooley)2002-'03: 15th nationally, 3rd SEC (AD Vince Dooley)
2001-'02: 8th nationally, 2nd SEC (AD Vince Dooley)
2000-'01: 3rd nationally, 1st SEC (AD Vince Dooley)
1999-'00: 12th nationally, 3rd SEC (AD Vince Dooley)
1998-'99: 2nd nationally, 1st SEC (AD Vince Dooley)
1997-'98: 7th nationally, 2nd SEC (AD Vince Dooley)