GrizzlyEdd
November 3rd, 2005, 12:30 PM
Athletic department in good shape to beat debt http://www.kaimin.org/images/M_images/printButton.png (javascript:void window.open('http://www.kaimin.org/index2.php?option=com_content&task=view&id=868&Itemid=55&pop=1&page=0', 'win2', 'status=no,toolbar=no,scrollbars=yes,titlebar=no,m enubar=no,resizable=yes,width=640,height=480,direc tories=no,location=no');)http://www.kaimin.org/images/M_images/emailButton.png (javascript:void window.open('http://www.kaimin.org/index2.php?option=com_content&task=emailform&id=868', 'win2', 'status=no,toolbar=no,scrollbars=yes,titlebar=no,m enubar=no,resizable=yes,width=400,height=250,direc tories=no,location=no');)Story by Erin Madison/Montana Kaimin 11.02.05 All six home University of Montana football games sold out this season, said Athletic Director Jim O’Day, which means the athletic department is in good shape to overcome its almost $1 million deficit discovered two years ago.
“Football is such a big piece,” O’Day said.
First quarter numbers aren’t the best measure of the financial situation for the year, said Ed Wingard, athletic department fiscal officer. But so far things seem set for success.
“We exceeded our football revenue,” he said.
The department didn’t budget to sell out the home games, he said.
The extra revenue from the ticket sales could help pay off the north end zone addition early, Wingard said.In 2002, the north end zone was expanded to bring the stadium capacity to 19,005. The department is currently paying off bonds for the construction.
Final numbers for football revenue should be in by the end of this week, O’Day said.
“The preliminary reports were very favorable,” Wingard said. “At this point in the year, we feel very good about where we’re at.”
Student football tickets were reduced from $7 to $4 this season.
Last spring, administrators said they hoped to make them free for students for the 2006 football season.
It’s still too early to say if that will happen or not, O’Day said. It won’t be decided until spring.
Men’s and women’s basketball are on track with season ticket renewals, Wingard said.
Both men’s and women’s basketball have the makings of good teams, O’Day said.
“They should be very popular with fans,” he said.
The deficit elimination plan that was created after the issue came to light requires the department to contribute $125,000 each year toward paying back its debt.
Last year, the department contributed $200,000 more than the $125,000 it was required to pay. That $325,000 reduced the deficit to $567,627.
The original plan called for the deficit to be eliminated in fiscal year 2009, but with this extra money, it was moved up to 2008.
Last year, the athletic department developed a line-item budget and stuck to it, Wingard said. It’s doing the same this year.
“Everybody has a financial plan they have to follow,” he said.
Hosting three playoff games helped bring in around an extra $137,000 last year, Wingard said.
It’s still unclear if the University of Montana will host playoff games this year. The department’s main expenses are salaries and travel, Wingard said, and so far those have gone according to plan. There haven’t been any unexpected expenses. O’Day said he’s optimistic at this point, but won’t feel good until he has the final numbers in his hand.
Last Updated ( 11.03.05 )
“Football is such a big piece,” O’Day said.
First quarter numbers aren’t the best measure of the financial situation for the year, said Ed Wingard, athletic department fiscal officer. But so far things seem set for success.
“We exceeded our football revenue,” he said.
The department didn’t budget to sell out the home games, he said.
The extra revenue from the ticket sales could help pay off the north end zone addition early, Wingard said.In 2002, the north end zone was expanded to bring the stadium capacity to 19,005. The department is currently paying off bonds for the construction.
Final numbers for football revenue should be in by the end of this week, O’Day said.
“The preliminary reports were very favorable,” Wingard said. “At this point in the year, we feel very good about where we’re at.”
Student football tickets were reduced from $7 to $4 this season.
Last spring, administrators said they hoped to make them free for students for the 2006 football season.
It’s still too early to say if that will happen or not, O’Day said. It won’t be decided until spring.
Men’s and women’s basketball are on track with season ticket renewals, Wingard said.
Both men’s and women’s basketball have the makings of good teams, O’Day said.
“They should be very popular with fans,” he said.
The deficit elimination plan that was created after the issue came to light requires the department to contribute $125,000 each year toward paying back its debt.
Last year, the department contributed $200,000 more than the $125,000 it was required to pay. That $325,000 reduced the deficit to $567,627.
The original plan called for the deficit to be eliminated in fiscal year 2009, but with this extra money, it was moved up to 2008.
Last year, the athletic department developed a line-item budget and stuck to it, Wingard said. It’s doing the same this year.
“Everybody has a financial plan they have to follow,” he said.
Hosting three playoff games helped bring in around an extra $137,000 last year, Wingard said.
It’s still unclear if the University of Montana will host playoff games this year. The department’s main expenses are salaries and travel, Wingard said, and so far those have gone according to plan. There haven’t been any unexpected expenses. O’Day said he’s optimistic at this point, but won’t feel good until he has the final numbers in his hand.
Last Updated ( 11.03.05 )