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Thread: ULL Athletics loses nearly $5.0M

  1. #1
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    ULL Athletics loses nearly $5.0M

    You locals in Louisiana are sleeping on the job. I would expect good news like this to come from one of you guys.

    https://www.theadvertiser.com/story/...na/4691594002/

    Notes:

    - ULL loses $4.6M, despite receiving an $18M subsidy, the largest in the state
    - ULL's Athletic donations were down -35% (Donations are down to $4M from $6M 3 yrs ago
    - ULL's Ticket sales were down -7.5%

    In fiscal year 2019, UL Athletics received more than 55% of its total revenue from the university, the highest rate of any Division I program in Louisiana — with the exception of Tulane, which does not submit its reports to the legislative auditor. ULM gets 50%, NSU 49%, and Grambling & McNeese 47%. Louisiana Tech gets 44%.


    LOUISIANA TECH IN THE BLACK:

    Meanwhile, Louisiana Tech’s athletic department finished the 2019 fiscal year in the black, one of three state universities to do so, joining LSU and Southeastern Louisiana.

    https://www.theadvertiser.com/story/...ar/4651204002/

  2. #2
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    Re: ULL Athletics loses nearly $5.0M

    Sucks to be them.

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    Re: ULL Athletics loses nearly $5.0M

    Quote Originally Posted by techman05 View Post
    Sucks to be them.
    Always has.

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    Re: ULL Athletics loses nearly $5.0M

    Tommy should give himself a raise!

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    Re: ULL Athletics loses nearly $5.0M

    I see what the story in the paper says about being in the black. I'm not buying it. Current admin has never finished a year in the black. Consistently declining contributions to LTAC (remember, that account is not audited by the state, and probably not anyone else), declining ticket sales across all sports, increasing debt service to construction projects, that just doesn't add up to being in the black.

    IMO a more likely scenario is that there was lots of creative bookkeeping done very quickly when the CFO left unexpectedly and the new boy struggled to figure out what was there, what was missing, or what was unaccounted for. If, in fact, the year-end did finish in the black there was a major gift to prevent another year in the red thereby continuing to protect a certain administrator.

  6. #6
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    Re: ULL Athletics loses nearly $5.0M

    Quote Originally Posted by nthedawghouse View Post
    I see what the story in the paper says about being in the black. I'm not buying it. Current admin has never finished a year in the black. Consistently declining contributions to LTAC (remember, that account is not audited by the state, and probably not anyone else), declining ticket sales across all sports, increasing debt service to construction projects, that just doesn't add up to being in the black.

    IMO a more likely scenario is that there was lots of creative bookkeeping done very quickly when the CFO left unexpectedly and the new boy struggled to figure out what was there, what was missing, or what was unaccounted for. If, in fact, the year-end did finish in the black there was a major gift to prevent another year in the red thereby continuing to protect a certain administrator.
    Our figures were boosted by giving after the tornado in April.

  7. #7
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    Re: ULL Athletics loses nearly $5.0M

    Quote Originally Posted by DiamondDawg36 View Post
    Tommy should give himself a raise!
    Don't go too far now....

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