Pretty shocking NCAA financial numbers for our friends who wear red

[RabbitObsessed]

Re: Pretty shocking NCAA financial numbers for our friends who wear red

Okay, ticket sales too:
UND - $4.3M
NDSU - $3.7M
SDSU - $1.5M
USD - $0.5M

Damn, how do you sell half a million dollars in free tickets?

/checks section the thread is in
//see that it's not a smack thread
///eh, submit it anyway

[GolfingYote]

Re: Pretty shocking NCAA financial numbers for our friends who where red

No Golfing Yote should open his eyes and take off the red and white glass, he just might slip out the back door. The dome is 30 years old and like CAS was built without the necessary funds to make it a good facility.

Easy my man, I was being sarcastic. I like the dome, but it is obviously outdated and in need of a facelift, which will happen after the arena is completed. Its easy to forget USD dumped 14M into in in 2001 to put in the steel roof. The throwing of stones at facilities at both sdsu and usd is pretty idiotic. SDSU is essentially building a brand new football stadium and will update frost in the future it sounds like, while USD will have a brand new basketball arena in 13 months and will begin dome upgrades following that.

[coyotecrazie5]

Re: Pretty shocking NCAA financial numbers for our friends who where red

http://www.argusleader.com/story/spo...f01562bd61dca2

Zimmer covered this a little more in the Argus

[Nidaros]

Re: Pretty shocking NCAA financial numbers for our friends who where red

Easy my man, I was being sarcastic. I like the dome, but it is obviously outdated and in need of a facelift, which will happen after the arena is completed. Its easy to forget USD dumped 14M into in in 2001 to put in the steel roof. The throwing of stones at facilities at both sdsu and usd is pretty idiotic. SDSU is essentially building a brand new football stadium and will update frost in the future it sounds like, while USD will have a brand new basketball arena in 13 months and will begin dome upgrades following that.

What do you mean USD dumped 14 million in the dump roof. I believe most of that money came from the tobacco law suite fund. So all the citizens of SD helped by letting Gov Janklow use the money for the roof. I guess this fact is easy to forget too.

[Jacks#1Fan]

Re: Pretty shocking NCAA financial numbers for our friends who where red

What do you mean USD dumped 14 million in the dump roof. I believe most of that money came from the tobacco law suite fund. So all the citizens of SD helped by letting Gov Janklow use the money for the roof. I guess this fact is easy to forget too.

Just a slight addition to your comments Nidaros...SD citizens didn't have a choice where the money went. It was commandeered by the state CEO, who just flat out gave it to them (good alum that he was). But I believe the state contribution was only $5 million.

[Nidaros]

Re: Pretty shocking NCAA financial numbers for our friends who where red

Just a slight addition to your comments Nidaros...SD citizens didn't have a choice where the money went. It was commandeered by the state CEO, who just flat out gave it to them (good alum that he was). But I believe the state contribution was only $5 million.

Thanks for setting the record straight. The late Gov. Janklow had a strange way of showing his loyalty to USD. I think he was a chain smoker and this was no pain for him to hand over the ill-gotten funds from the tobacco law suite instead of starting a quit smoking campaign. ND has a big program that advertises quite often on TV. I assume the ND program was started with tobacco money from the law suit. Each got state so much for a certain period of time.

[goon]

Re: Pretty shocking NCAA financial numbers for our friends who where red

Thanks for setting the record straight. The late Gov. Janklow had a strange way of showing his loyalty to USD. I think he was a chain smoker and this was no pain for him to hand over the ill-gotten funds from the tobacco law suite instead of starting a quit smoking campaign. ND has a big program that advertises quite often on TV. I assume the ND program was started with tobacco money from the law suit. Each got state so much for a certain period of time.

Every state has its only tobacco quitline program. I think your right that most quitlines are funded from tobacco lawsuit settlements. State tobacco taxes are used for a variety of uses. A few years ago with the economy issues. The state diverted taxes used for state tobacco programs to help balaance the budget and pay for other stuff.

[JackJD]

Re: Pretty shocking NCAA financial numbers for our friends who where red

I think there some misinformation in this thread about "tobacco money".

First, with respect to the DakotaDome roof replacement, note the following: In 12/98, The Board of Regents approved up to $11.5 million for replacement of the Dome's roof with a permanent roof. In 1999, the Legislature authorized moving forward with the project for a price tag of up to $11.5 with $6.5 million to be bonded. The FY00 general appropriations bill included $4 million in state dollars to support the project. The Regents report states that energy savings, initially projected at $214,000, would be used along with student fees and a portion of gate receipts, to cover the annual bond payments projected at $521,015. When the project was completed and financing in place, the final energy savings was identified as $191,000 but the total annual bond payment was also less, approx. $500,000. One detail missed in the planning stages was the failure to get an agreement in writing that the energy savings could be "retained" by USD and used for the bond payment. Later action was taken so that HEFF (Health and Educational Facilities Authority) money be provided to cover the bond payments.
[Source: SD Board of Regents, including the May 19-20, 2011 report of the Committee on Budget and Finance -- all easily available on the internet.]

The South Dakota Building Authority (NOT TOBACCO MONEY) did issue bonds for the permanent roof replacement - the amount of $6,505,000 was included in the Series 2000 Bonds issued by the Authority. [Source: check any of the Annual Reports of the SD Building Authority that are available on the internet. At the end of the reports is a list of projects for which bonds were sold by the Authority...the list is mildly interesting reading because it starts with bonds issued in 1993. Here's the Building Authority's website where you can read about the SDBA and view the last three or four annual reports: http://www.sd-ba.com/ This is a public corporation and its records are open.]

With respect to the State's share of the massive tobacco-litigation settlement: The State (like many other states) formed an entity called the Educational Enhancement Funding Corporation. That entity was formed essentially for the purpose of buying the State's share of the tobacco litigation settlement -- which is paid out over many years and according to a formula and has risk that the payments may change or even end. The EEFC sold bonds so that the State got the bulk of its money up front. The stream of payments from the settlement is used to pay off the bonds. Here's a link to the EEFC (also a public corporation whose records are open) website: http://www.sdeefc.com/index.htm

Bottom line: the money from the sale of bonds to put on the permanent roof came from the SD Building Authority. That's one of the primary purposes of the SDBA: to raise money so that our universities can construct and maintain facilities. (Recent example: the portion of SDSU's new stadium that is being financed was done so through the sale of bonds by the SDBA.)

[Nidaros]

Re: Pretty shocking NCAA financial numbers for our friends who where red

I think there some misinformation in this thread about "tobacco money".

First, with respect to the DakotaDome roof replacement, note the following: In 12/98, The Board of Regents approved up to $11.5 million for replacement of the Dome's roof with a permanent roof. In 1999, the Legislature authorized moving forward with the project for a price tag of up to $11.5 with $6.5 million to be bonded. The FY00 general appropriations bill included $4 million in state dollars to support the project. The Regents report states that energy savings, initially projected at $214,000, would be used along with student fees and a portion of gate receipts, to cover the annual bond payments projected at $521,015. When the project was completed and financing in place, the final energy savings was identified as $191,000 but the total annual bond payment was also less, approx. $500,000. One detail missed in the planning stages was the failure to get an agreement in writing that the energy savings could be "retained" by USD and used for the bond payment. Later action was taken so that HEFF (Health and Educational Facilities Authority) money be provided to cover the bond payments.
[Source: SD Board of Regents, including the May 19-20, 2011 report of the Committee on Budget and Finance -- all easily available on the internet.]

The South Dakota Building Authority (NOT TOBACCO MONEY) did issue bonds for the permanent roof replacement - the amount of $6,505,000 was included in the Series 2000 Bonds issued by the Authority. [Source: check any of the Annual Reports of the SD Building Authority that are available on the internet. At the end of the reports is a list of projects for which bonds were sold by the Authority...the list is mildly interesting reading because it starts with bonds issued in 1993. Here's the Building Authority's website where you can read about the SDBA and view the last three or four annual reports: http://www.sd-ba.com/ This is a public corporation and its records are open.]

With respect to the State's share of the massive tobacco-litigation settlement: The State (like many other states) formed an entity called the Educational Enhancement Funding Corporation. That entity was formed essentially for the purpose of buying the State's share of the tobacco litigation settlement -- which is paid out over many years and according to a formula and has risk that the payments may change or even end. The EEFC sold bonds so that the State got the bulk of its money up front. The stream of payments from the settlement is used to pay off the bonds. Here's a link to the EEFC (also a public corporation whose records are open) website: http://www.sdeefc.com/index.htm

Bottom line: the money from the sale of bonds to put on the permanent roof came from the SD Building Authority. That's one of the primary purposes of the SDBA: to raise money so that our universities can construct and maintain facilities. (Recent example: the portion of SDSU's new stadium that is being financed was done so through the sale of bonds by the SDBA.)

I owe the board an apology as I honestly believe something that was not true. I tend to believe Jack JD very detailed explanation. Thanks for the explanation JackJd