Lol wut? Here's the very next paragraph:

"The medical campus is part of a plan approved by Travis County voters in November 2012 that provided $35 million in local funding for medical services to the uninsured, filling a funding gap for ongoing medical school operations."
https://news.utexas.edu/2013/05/08/dell-medical-school-construction-plans-unveiled

Just give it up, dude, you wrote "in its entirety" and you were wrong.

Live to fight another day.

The only people I can fathom that have the amount of time and energy to dig up and tie together this level of unrelated information are meth-heads in east texas with a computer but no job.


Follow these steps and you can win too:
1) Get off the meth
2) Get some sleep
3) Get a job
4) Get psych help about your obsessions
5) Get off of government aid.

etexorange said:

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You're late, Randy, that accusation has already been flung.

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Pam Poovey said:

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Your Friend said:

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tu and ou to the SEC?

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**** no and **** you.

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Not just no in opinion, but no in fact as well. The SEC will not take OU and will most definitely not take texas.

I believe it was Patterson that tried to tell the City of Austin that it was time for them to pay their fair share with regards to the Erwin Center. Mayor Alder kindly told Patterson to go **** himself.

Quote:

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Yeah we included our capital campaign revenues in our overall. Makes more sense than DeLoss including all income from the Erwin Center on your ath dept books, but none of the expenses.

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Ahh yes, another Aggie lie raises its head.

UT Athletics and the Erwin Center are two separate auxiliary enterprises with their own budgets under UT Austin.

Here's the figures from the UT Austin budget:

quote:

Auxiliary Enterprises include:

Intercollegiate Athletics: $146M

Housing & Food: $84M

AT&T Exec. Ed & Conference Ctr. $26M

Erwin Center: $23M

Parking & Transportation: $18M

Other include: Continuing Education, Performing Arts Center, UIL, KUT,

Source: staffcouncil.utexas.edu/files/2015/07/Budget_Update_6_18_152.pdf

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Now show me where that $23 million from the Erwin Center is included in the Athletics Department budget.

(Hint: You can't.)

All I know is that UT had to charge coaches for meals and made their baseball team take a Greyhound bus to Lubbock like a semi-pro Mexican League team.

etexorange said:

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EYour financial books are cooked. You are including donations toward construction projects in football, baseball and any other capital campaign as revenue, but don't include that debt service as an outlay, or expense.

That explains your huge "profit."

Are you not spending that money on debt service right now and allowing the hotel-motel tax saddled on the consumer at government gunpoint, or the student services fee, to tote the note for a few years on Kyle Field construction, or what?

School me, Aggies.

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"Cooked"? Pretty sure the university was upfront with how they accounted, which included donations received as current income with future debt payments not included as current expenses. Only current year debt service costs are accounted for in the current year. This is pretty standard cash based accounting.

The alternative would be receivables based account, in which the donations were booked when the pledges were made and then adjustments would need to be made for pledges not paid. This would have led to a nearly 500 million windfall in year 0 (as pledges were made) with a 500 million expense spread over year 1 and 2 (as building costs were paid and debt was sold. Btw, the debt would have been a mostly offsetting income and expense with a relatively small amount for interest.

Btw, the NCAA actually requires the cash based accounting approach. So tu did the same thing when they took on a bunch of debt last time they expanded DKR and you will find "debt service" line item on the tu athletic department budget too.

HTownAg98 said:

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I believe it was Patterson that tried to tell the City of Austin that it was time for them to pay their fair share with regards to the Erwin Center. Mayor Alder kindly told Patterson to go **** himself.

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It wasn't about paying for the FEC, it was about getting the city of Austin to pony up for a new event center to replace the FEC which will eventually be torn down for the med school.

etexorange said:

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"Furthermore, the Financials are audited by a Big 4 Accounting firm. The likelihood of anything being "cooked" is unlikely."

This is from the Seattle Times:

"A University of Washington regent slammed former athletic director Scott Woodward on Thursday, saying Woodward did not let the governing board know about a growing deficit in the UW athletic department's budget.

Regent Jeremy Jaech, the board's vice chair, described it as "a bad-faith effort" on Woodward's part to use one-time money, paid in advance to UW for multimedia advertising, and apply it to the budget. Jaech called it "an attempt to make the numbers look better than they really were."

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Geezus dude...you ever hear of a man named Deloss Dodds? Padding numbers was his specialty. When Steve Patterson showed up, he started to blow the lid on the imaginary profits the Texas AD were reporting, actually tried running it like a business, and got his ass canned because of it.

I appreciate your response. You wrote "Pretty sure the university was upfront with how they accounted, which included donations received as current income with future debt payments not included as current expenses. "

I am focusing on the word "future."

That was why I was asking whether those expenses had been deferred somehow. And in lieu of that, who makes the debt service payment for the 30 year bonded indebtedness that the A&M System guaranteed.

Are the payments deferred, or are they being made by the 12th Man Foundation on the AD's behalf and expensed on their budget?

Been awhile since I looked at the AD information, but... the stadium debt was flowing through the AD budget if I remember correctly.

etexorange said:

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I appreciate your response. You wrote "Pretty sure the university was upfront with how they accounted, which included donations received as current income with future debt payments not included as current expenses. "

I am focusing on the word "future."

That was why I was asking whether those expenses had been deferred somehow. And in lieu of that, who makes the debt service payment for the 30 year bonded indebtedness that the A&M System guaranteed.

Are the payments deferred, or are they being made by the 12th Man Foundation on the AD's behalf and expensed on their budget?

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What do you mean by deferred? When you take out a 30 yr mortgage for a house, the payment schedule has the mortgage principle payed off 30 yrs later. Deferring the expense is kinda the entire point. Why else would you agree to pay someone else the interest?

Typically for bonds, there are interest payments until maturity and then the principle is paid. There is the ability to "pay it off" early by buying back the bonds.

Keep in mind, BCS agreed to pay a portion of the price through hotel tax. Given the percentages and interest rates, I suspect that money could be used to cover the interest. How that is accounted for (AD budget vs univ/system budget) would depend on who the govt is making payments to. It would be cleaner for the the cities to pay the univ or system, I think. But it doesn't really effect AD profit in so much as the revenue would offset the expense.

This isn't some fraudulent use of the hotel tax, since the point of the hotel occupancy tax is to promote tourism and increase hotel occupancy. This is why various cities use those funds to enhance or create attractions that bring visitors to the city. Increasing the capacity of Kyle Field by 20k creates additional demand for hotel rooms plus the agreement provide access to various A&M facilities for hosting events. Think of this as getting a stadium and convention center all in one, for pennies on the dollar. Way better deal for BCS then a major city building a new pro sports facility. And just keep in mind, tu AD tried to get the city of Austin to build a basketball arena for them where the city would foot the majority of the cost.

Obviously Belmont has enough money to pay tsip posters to goalie for a school they may have attended. No self respecting adult would waste their time doing that for free.

What the hell is this dude's problem? Is this backlash from finding out Santa is not real?

His problem is his name is Charles M Satterfield III and he looks like this:



And he used to live in Maryland when he was a child getting beat up by prepubescent girls. Of course kids used to make fun of him because of his undiagnosed aspergers. This scarred him for life and his ex girlfriend leaving him because of his obsession on all thing A&M.