The Iowa Board of Regents met Wednesday in Vinton and the athletic department budgets of Iowa, Iowa State and Northern Iowa were on the agenda. Iowa’s revenue projections are budgeted at $70.6 million for fiscal year 2011, while ISU is $41.6 million and UNI $11.7 million.
Some highlights:
* Iowa’s budgeted revenue projections for 2011 are 4.7 percent higher than this year, due to a ticket price increase for football and men’s basketball revenues returning to their original 2010 budget level.
* Iowa’s athletic conference revenue is expected to increase by $2.2 million, thanks to new bowl contracts with the BCS and Big Ten. There also is a one-time 1 percent equity stock sale of the Big Ten Network to Fox Sports.
* Iowa State’s budget revenue projections for 2011 are projected to slightly exceed 2010, due to the addition of a seventh home football game and the cost of season tickets going from $350 to $370.
Here is the complete report from Wednesday’s minutes:
UNIVERSITY OF IOWA
Athletics
The SUI Athletic Department is a self-sustaining auxiliary enterprise and receives no general university support. The University of Iowa’s FY 2011 athletic budget on the following page reflects revenue projections of $70.7 million; 4.7% more than FY 2010 estimates.
Sports income in FY 2011 is expected to increase slightly compared to FY 2010 due to a ticket price increase for football and men’s basketball revenues are projected to return to original FY 2010 budget levels.
Athletic conference revenue is expected to increase $2.2 million due to new bowl contracts with the BCS and the Big Ten Conference, and a one-time 1% equity stock sale of the Big Ten Network to FOX Sports.
Departmental salary costs are budgeted to increase 2% and scholarship expenses totaling $8.6 million reflect a 5% increase when compared to FY 2010.
The increase in facility debt service is due to the additional payments for Carver Hawkeye Arena and the Campus Recreation and Wellness Center.
Additional building and grounds expenses are attributable to Athletics’ responsibility for the new
Campus Recreation and Wellness Center, higher utility costs, and increased building insurance
premiums directly attributable to the flood of 2008.
The Athletic Department purchases services from numerous entities within the University including, Public Safety, UIHC, parking, scholarships, utilities, and residence services. The projected total FY 2011 costs of these services is $17.0 million.
FY 10 Estimates FY 11 Budget
INCOME:
Men’s Sports
Football $ 19,725,044 $ 19,897,100
Basketball $ 1,875,000 $ 2,301,500
Wrestling $ 4 07,068 $ 4 26,000
All Other $ 31,273 $ 30,000
Total Men’s Sports $ 22,038,385 $ 22,654,600
Women’s Sports
Basketball $ 1 33,992 $ 1 78,500
Volleyball $ 12,921 $ 10,000
All Other $ 13,000 $ 13,000
Total Women’s Sports $ 1 59,913 $ 2 01,500
Other Income
Facility Debt Service/Student Fees $ 5 00,803 $ 5 00,000
Learfield Multi Media Contract Income $ 5,085,086 $ 5,290,000
Athletic Conference $ 19,968,000 $ 22,196,000
Student Financial Aid Set Aside Reimbursement $ 5 45,200 $ 5 45,200
Interest $ 9 00,000 $ 1,000,000
Foundation Support $ 9,292,180 $ 9,228,149
Foundation Premium Seat Revenue $ 4,880,404 $ 5,180,598
Novelties–Bookstore $ 2,000,000 $ 1,768,680
General Income $ 2,150,000 $ 2,125,000
Total Other Income $ 45,321,673 $ 47,833,627
TOTAL INCOME $ 67,519,971 $ 70,689,727
EXPENSES:
Men’s Sports
Football $ 16,198,717 $ 16,143,273
Basketball $ 4,577,833 * $ 4,576,072
Wrestling $ 1,117,711 $ 1,132,858
Other Sports $ 3,809,754 $ 3,793,655
Total Men’s Sports $ 25,704,014 $ 25,645,857
Women’s Sports
Basketball $ 2,600,072 $ 2,902,480
Volleyball $ 9 06,103 $ 1,039,802
Other Sports $ 7,239,108 $ 7,378,263
Total Women’s Sports $ 10,745,284 $ 11,320,546
Other Expenses
Training Services $ 1,518,635 $ 1,594,692
Sports Information $ 6 39,127 $ 6 38,598
Admin. & General Expenses $ 9,432,561 $ 9,689,942
Facility Debt Service $ 9,467,742 $ 11,100,546
Transfer-New Facility Costs/Reserves (Kinnick) $ 7 00,000 $ 1,000,000
Academic & Counseling $ 1,565,094 $ 1,576,130
Buildings & Grounds $ 7,747,515 $ 8,123,418
Total Other Expenses $ 31,070,674 $ 33,723,325
TOTAL OPERATING EXPENSE $ 67,519,971 $ 70,689,727
Source: University of Iowa Athletics
IOWA STATE UNIVERSITY
Athletics
Iowa State University’s FY 2011 athletic budget reflects revenue projections totaling $41.7 million, a slight increase when compared to FY 2010 estimates.
Sports income from ticket sales is projected to slightly exceed FY 2010 estimates primarily due to the addition of a seventh home football game this upcoming season. Football season tickets have been increased from $350 to $375 due to the additional home game.
Fundraising revenue is projected to increase as additional revenue is transferred from ISU Foundation sources to assist in payment of increased scholarship expenses and offset reductions in general university support.
General university support for athletics during FY 2010 was reduced $500,000 during the fiscal year.
University support for FY 2011 is budgeted at slightly less than current FY 2010 estimates. ISU
Athletics plans to continue to reduce dependence on university support over the next several years.
Debt service for FY 2011 will decrease approximately $1.2 million due to early payments being made for the Hilton scoreboard and Jack Trice Stadium improvements.
FY 2011 salaries and related costs are projected to increase approximately $1.4 million from current FY 2010 projections. Athletics realized salary cost reductions in FY 2010 resulting from mandated unpaid days and reductions in retirement plan contributions. FY 2011 salaries will remain level with FY 2010 for all personnel except for merit staff and employees under contract.
The Athletic Department is responsible for paying tuition resulting from awarding scholarships.
Scholarship expenses are projected to increase in FY 2011 since not all available football scholarships were exhausted in FY 2010 due to the coaching change made late in the recruiting period. The University projects scholarship costs to Athletics of approximately $7.0 million.
The Athletic Department purchases services from numerous entities within the University including, tuition and room board from scholarship payments, facilities, University services, and utilities. The projected total FY 2011 costs of these services is $16.7 million.
FY10 Estimates FY11 Budget
OPERATING REVENUE
Ticket Sales $ 1 1,509,145 $ 11,617,047
Conference & NCAA Revenue 9,709,911 9,826,635
Fundraising 7,490,665 8,144,197
Multi-Media Rights 2,736,000 3,183,000
Post Season 1,674,156 1,400,000
Investment Income 200,324 98,996
Student Fees 1,113,000 1,125,000
University Support 1,613,607 1,600,107
Facility Management Fee 500,000 450,000
Licensing 314,873 315,000
Game Guarantees 1,115,650 1,566,000
Auxiliary Revenue 1,230,146 1,236,538
Hilton Operating Revenue
Other Revenue 1,370,472 1,093,550
TOTAL OPERATING REVENUE 40,577,950 41,656,070
OPERATING EXPENSES
Salaries 14,467,868 15,894,496
Scholarships 5,976,241 7,042,853
Sports Programs – Operations 6,303,638 6,574,357
Sports Programs – Post Season 1,864,852 1,840,000
Sports Program – Support Units 1,371,357 1,387,062
Internal Operations 2,180,167 2,152,221
External Operations 1,024,785 920,232
Facilities & Events 3,933,416 4,232,870
TOTAL OPERATING EXPENSES 37,122,324 40,044,092
NET OPERATING MARGIN 3,455,625 1,611,978
Less: Debt Service (2,823,724) (1,578,707)
Less: Capital Expenditures (240,000) (525,000)
Less: Administrative Fee – –
Less: Coaching Change (368,862) 500,000
Less: Contingency – –
NET MARGIN $ 23,039 $ 8,271
Source: Iowa State University – Department of Athletics
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UNIVERSITY OF NORTHERN IOWA
Athletics
The University of Northern Iowa’s FY 2011 athletic budget reflects revenue projections totaling
$11.7 million; which is a 1.3% increase when compared to the FY 2010 estimates.
General university funds for athletics provide support for scholarships, operations, and the graduate assistant program. University support in FY 2010 was reduced $190,000 in response to the budget cuts which occurred during the year. General university support for FY 2011 is projected to slightly exceed current FY 2010 estimates.
The athletic department is responsible for paying tuition from awarded scholarships. The total number of budgeted scholarships for FY 2011 remains the same as FY 2010 at a total cost to the athletic department of approximately $3.5 million.
The UNI athletic department purchases services from numerous entities within the University. These include in part, tuition and room/board from scholarship payments, Business Services, Public Safety, marketing, and utilities. The projected total cost of these services in FY 2011 is $4.1 million.
FY2010 FY 2011
Estimates Proposed
INCOME
Football 1,016,179 1,102,500
Men’s Basketball 1,138,335 1,199,000
Men – All Other Sports 55,766 37,000
Women – All Sports 148,582 112,800
Subtotal – Sports 2,358,862 2,451,300
Other Income
Student Activity Fee 1,212,518 1,212,500
University Support for:
General Athletics Operations 3,155,693 3,266,702
Scholarships 1,283,481 1,283,481
Alumni/Foundation Support 1,196,063 1,290,000
Athletic Marketing 1,050,000 1,066,000
Athletic Conf/NCAA Support 640,000 650,000
Novelties – Outings 337,100 182,000
General 348,973 328,500
Subtotal – Other 9,223,828 9,279,183
TOTAL INCOME 1 1,582,690 11,730,483
EXPENSES
Men’s Sports
Football 2,571,706 2,673,766
Basketball 1,688,956 1,677,101
All Other Men’s Sports 1,026,584 1,013,166
Subtotal – Men’s Sports 5,287,246 5,364,033
Women’s Sports
Basketball 765,778 842,628
Volleyball 662,949 681,941
All Other Women’s Sports 1,989,904 1 ,990,617
Subtotal – Women’s Sports 3,418,631 3,515,186
Other Expenses
Athletic Training 260,216 342,888
Administration & General 2,258,283 2,188,556
Athletic Marketing 284,210 219,820
Contingency 74,104 100,000
Subtotal – Other Expenses 2,876,813 2,851,264
TOTAL EXPENSES 1 1,582,690 11,730,483
Source: University of Northern Iowa Athletics
For the complete report, here’s the link: