This is the annual update of the Virginia Tech Athletics financial information for the year ended June 30, 2011. As noted in past reports, the following standard caveats and comments are made:
- The 2011 data includes the 2010 football season and the 2010/2011 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 (APA) website. 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. 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). UVA appears to have omitted the principal payment on debt ($4.937 million) from the APA report. So, I have added that additional amount to the “Other” expenditures amount on my schedule. I also believe they may have omitted this payment from the prior year APA report, but it is difficult to assess from the information that I have.
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 and the changes between the 2011 and 2010 years are also reported.
You will notice in the prior table that Tech’s football ticket revenues increased significantly in FY 2011 (2010 football season) because of the Boise State game and the increase in ticket...
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