2009-10 Financial Report: Profit Rebounds Strong in Face of Economic Downturn

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This is the annual update of the Virginia Tech Athletics
financial information for the year ended June 30, 2010. As noted in past
reports, the following standard caveats and comments are made:

  • The 2010 data includes the 2009 football season and the
    2009/2010 basketball season.
  • There can be various differences between current and
    prior year numbers within the same school, depending on how the school
    chooses to present its reports. Contributions reported will not agree to the
    annual information reports from the athletic fund raising numbers primarily
    because only the application of those amounts are presented. If the funds
    are not expended, they are generally not reported in the NCAA reports.

As in prior years, the information for Virginia Tech and UVA
is derived from the published NCAA reports on the Virginia Auditor of Public
Accounts web site. I have also included with this report summary information
from the same source for Virginia Commonwealth University (VCU). Information
from the U.S. Government’s Office of Postsecondary Education (OPE) (located at http://ope.ed.gov/athletics/)
has been reviewed for Virginia Tech and Virginia
in order to determine if there are significant items and comments on those
reports that may be useful. Other than VCU, I have not included other Virginia
schools this year because their information is generally not relevant to the
Virginia Tech and UVA information. Also, the OPE reports are not supposed to
reflect debt service (principal and interest). Virginia Tech’s info in the OPE
report does not reflect debt service, but UVA’s appears to report debt service –
I am not sure why there is a reporting difference.

As in past years, for this report, I have presented the past
three years for both Virginia Tech and UVA. In the first presentation, the
Virginia Tech numbers are presented for the past three years,