2005-06 Financial Report: Hokie Athletics Still Strong Financially

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This is the 2007 (or in financial terms, the 2006) update of my article on
Virginia Tech Athletic financial information that ran on TechSideline.com in
late March, 2006. Many folks have requested an update to last year’s
information. This latest version contains financial numbers that reflect the
2005 football season and 2005/2006 basketball season. The numbers continue to
paint a picture of an athletic department that has grown rapidly and is run in a
fiscally responsible fashion.

Before we get to the numbers, some information about the various reports:
Some of the numbers contained herein, particularly contributions, are difficult
to reconcile to published reports of fund raising results from Virginia Tech and
U. Va. The numbers published here are from the NCAA reports of the various
schools and do not necessarily reflect actual numbers that might be reported in
the audited GAAP (generally accepted accounting principles) basis financial
reports that are issued annually by the various Virginia schools.

The NCAA has been under fire to have all schools be more consistent in their
reporting of revenues and expenditures related to their athletic operations. It
appears to me that some progress is being made, but there are still a lot of
inconsistencies in the way this information is reported by the various member
institutions.

So, you have to take some of the numbers with a grain of salt, but most of
the operating (non-contribution amounts) should be fairly reflective of the
actual financial activity of the various programs as reported in the GAAP basis
financial reports.

Recently there have been several articles linked by TechSideline.com and
various message board posters regarding the ACC, Big East and other conferences
regarding conference distributions to the member schools. The numbers reported
in those articles have been derived primarily from the Form 990 filings that are
required by the IRS, and significant portions of these returns are available for
public inspection.

All public universities and all private schools

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