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University of Miami FY2021 Financials (We aren’t broke)

Page305 said:
We? Oh so you are apart of the media that's putting out reports of us not having enough money for Mario?? Got it fam.
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I'm referring to the we, as in stakeholders(Alumni,staff, students, etc.) that actually have a **** clue. That's in comparison to our fanbase, most of whom have never been on campus, much less attended an actual University. When you have people thinking that "Miami turned a "profit", they can pour that money into athletics, logic and accounting be damned", it gets really, really irritating.

It's almost like our fanbase doesn't understand that it's the UNIVERSITY of Miami, not Football Vocational School of Coral Gables. Never mind the fact that the athletic department already gets money from the school, they get the athletics fee that every student pays. It's a miniscule amount, but it is still there.
 
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Canedude08 said:
I'm referring to the we, as in stakeholders(Alumni,staff, students, etc.) that actually have a **** clue. That's in comparison to our fanbase, most of whom have never been on campus, much less attended an actual University. When you have people thinking that "Miami turned a "profit", they can pour that money into athletics, logic and accounting be damned", it gets really, really irritating.

It's almost like our fanbase doesn't understand that it's the UNIVERSITY of Miami, not Football Vocational School of Coral Gables. Never mind the fact that the athletic department already gets money from the school, they get the athletics fee that every student pays. It's a miniscule amount, but it is still there.
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I see. My comment was strictly targeted at the ppl who's putting out reports or simply believing the reports that we don't have enough money to afford someone. The money is and has always been there. The school just doesn't give a **** about sports.
 
And no, schools should not supplement the athletic budget from general funds. This only happens in minuscule amounts for most P5 schools. If the school is doing that to any significant amount it means there is some catastrophic shortfall, like Covid.

The financial success of the athletic program, and thereby the football program, is dependent on two things, booster support and intrinsic revenue, both directly related to booster financial support and the W-L record , the more winning the more revenue.

A lot of you people don’t get how this works. Financial support from the university’s general fund and any university funds, other than athletic revenue generated, is not how this works.

So people pointing to overall university revenue, and saying “look the university has lots of money“ are just showing their ignorance.
 
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Page305 said:
I see. My comment was strictly targeted at the ppl who's putting out reports or simply believing the reports that we don't have enough money to afford someone. The money is and has always been there. The school just doesn't give a **** about sports.
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you have to look at what the ath dept made not what the school makes. That’s what matters and we’ve already said the ath dept could get the money from boosters to pay for a better coach they choose not to. Schools fund these hires through donations. Fsu had their booster club buyout willie. UF uses a booster plane to interview coaches
 
OriginalCanesCanesCanes said:
And no, schools should not supplement the athletic budget from general funds. This only happens in minuscule amounts for most P5 schools. If the school is doing that to any significant amount it means there is some catastrophic shortfall, like Covid.

The financial success of the athletic program, and thereby the football program, is dependent on two things, booster support and intrinsic revenue, both directly related to booster financial support and the W-L record , the more winning the more revenue.

A lot of you people don’t get how this works. Financial support from the university’s general fund and any university funds, other than athletic revenue generated, is not how this works.

So people pointing to overall university revenue, and saying “look the university has lots of money“ are just showing their ignorance.
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It’s a school not a football org. It’ll be a school first, people have to get that. miami Could spend more from the att dept to pay for better coaches they’re choosing not to. We need more booster donations as well. We pale compared to the schools we want to be apart of
 
Go Canes!! said:
I must miss the countless posts “Dude who says we’re broke or don’t have money “ is constantly dropping here.

He must be the same guy still defending Manny and the administration some here are always ripping .
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Cc strawman
 
hoops156 said:
It’s a school not a football org. It’ll be a school first, people have to get that. miami Could spend more from the att dept to pay for better coaches they’re choosing not to. We need more booster donations as well. We pale compared to the schools we want to be apart of
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Look at any decent P5 school, especially ones that are winning. They’re normally putting money into the university general fund rather than taking it out. Again people here don’t know how it works.
 
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RedSquare said:
$900 Million increase in net assets for the fiscal year.

In the world of university accounting, this means they took in almost a billion dollars more than they spent, notwithstanding some of it was earmarked or part of MTM increases in unrealized/realized portfolio gains.

bottom line??

this university has a lot more money than they are claiming.

and on a per capita (student) basis, has much better asset base than state universities that rely upon public welfare
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As I stated in another thread,where someone was arguing that Stanford's coach was making so much that academic and sports were not incompatible, Stanford has an endowment (piggy bank but not all universally available of $28 billion while Miami has $1 billion. My alma mater, Lafayette, a school of 2100 undergraduates has an endowment of $750 million. Miami is middle class comfortable. Oklahoma State Boosters have over $100 million themselves.
 
1mg of Epi said:
Revenues
UM: $4 Billion
Texas: $1 Billion
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UM includes the health system that covers a large swath of South Florida. Texas endowment $30 billion, Miami $1 billion. If you have ever run a business, you know revenues and profits are not synonyms. If they were GM and Chrysler would have never approached bankruptcy. Texas numbers are understated by $2.0 billion.

About The Budget | Budget Office

budget.utexas.edu budget.utexas.edu
 
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I am gonna make a new thread about stadium capacity, revenue and leasing. I think this info needs to be shared.
 
1mg of Epi said:
Revenues
UM: $4 Billion
Texas: $1 Billion
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Texas boosters put in over 100 MILLION DOLLARS PER YEAR, TEXAS FOOTBALL MAKES IN EXCESS OF 140,000,000 PER YEAR. Fundamental difference. Texas also can rely on STATE FUNDING TO PAY A LARGE PERCENTAGE OF THEIR EXPENSES AS AN INSTITUTION.

Either you are trolling, or you are a breed of stupid I can't imagine exists.
 
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OriginalCanesCanesCanes said:
Look at any decent P5 school, especially ones that are winning. They’re normally putting money into the university general fund rather than taking it out. Again people here don’t know how it works.
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Even then, there are few that put in huge money back. You can count them on both hands and have fingers left over. Ohio State, Texas, those schools make donations back. A lot of these departments just hold onto the money and find ways to spend it as they see fit.
 
Canedude08 said:
Texas boosters put in over 100 MILLION DOLLARS PER YEAR, TEXAS FOOTBALL MAKES IN EXCESS OF 140,000,000 PER YEAR. Fundamental difference. Texas also can rely on STATE FUNDING TO PAY A LARGE PERCENTAGE OF THEIR EXPENSES AS AN INSTITUTION.

Either you are trolling, or you are a breed of stupid I can't imagine exists.
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You just have to excuse the ignorance and move on. More knowledgeable people have tried to explain, but it’s almost futile. It’s like trying to explain calculus to a ****roach.
 
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Lol this thread has shown me that 90% of this board has no idea what the difference between revenue and profits are. Way to go CIS
 
SPAMM said:
As I stated in another thread,where someone was arguing that Stanford's coach was making so much that academic and sports were not incompatible, Stanford has an endowment (piggy bank but not all universally available of $28 billion while Miami has $1 billion. My alma mater, Lafayette, a school of 2100 undergraduates has an endowment of $750 million. Miami is middle class comfortable. Oklahoma State Boosters have over $100 million themselves.
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The endowment numbers aren't significant in regards to spending on athletics. You have to have boosters that can and will put in those funds. Stanford is an outlier, they have a ton of alumni that found huge success in Silicon Valley and they can easily afford to put the money up. Keep in mind, Miami had to fight to get a **** IPF built, one that cost 30 million. I'm quite sure you have maybe 1-2 boosters at Stanford that are paying the bulk of Shaw's salary, and it's a pittance for them.

Does Miami have rich donors? Yes, they are there. That said, our donors aren't astronomically wealthy like some at other schools. There's a reason why we rely so heavily on our NFL alumni to give back.
 
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