NT Daily: UNT Athletics Department is more than $63.19 million in debt as of the end of 2017

[Talon90]

"The UNT athletics department is more than $63.19 million in debt as of the end of the 2017 fiscal year, according to documents filed with the NCAA."

https://www.ntdaily.com/athletics-debt-story/

Edited December 6, 2018 by Talon90

[UNTFan23]

Ok, and ... ? 🙄

[Cr1028]

What a dick writer! Such a ignorant and slanted piece. I guess our beloved university still has clowns at the Daiky that don’t see the value in athletics.

Edited December 6, 2018 by Cr1028

[Mean Green 93-98]

So they're including the debt for Apogee Stadium in these figures?  This is ridiculous.  As if they're breaking some kind of news.

[Cerebus]

13 minutes ago, Talon90 said:

"The UNT athletics department is more than $63.19 million in debt as of the end of the 2017 fiscal year, according to documents filed with the NCAA."

https://www.ntdaily.com/athletics-debt-story/

It's the serviced debt on the stadium.

[meangreenJW]

 

1. • Wren Baker‏Verified account @wrenbaker 3m3 minutes ago

     More

     Replying to @ntdaily

     I think you guys are confused. I attempted to bring clarity to the reporters but obviously failed. The debt you reference is for facilities (largely stadium). It has dedicated revenue streams that pay for debt service payments. It isn't related to the annual budget.

      
   •  

     Wren Baker‏Verified account @wrenbaker 5s5 seconds ago

     More

     This article is misleading & was written without visiting with the athletic department CFO (as suggested) who would have helped you understand so you could write something accurate & factual. We value student journalism & are always willing to help you get the story correct. #GMG

      

[meangreenJW]

What ridiculousness by the NT Daily. As we've discussed on here previously, the paper seems to get progressively worse.

[Aquila_Viridis]

What kind of profit is the Journalism department turning?

[Arkstfan]

What happens to the dedicated revenue stream when the debt is paid? Does it go away? Does it go to the athletic department? Does it go to the university budget?

THAT is the interesting question.

[Withers940]

What a shit show of a piece. I could only read through a third of it before I got nauseous

[MEEN2018]

Another instance that shows just how great Wren is at his job! Getting out ahead of this and trying to clarify while not attacking anyone and just spitting facts. I hope that Seth is the HC for life but things like this show that as long as we have Wren that we will be ok

[untjim1995]

Old Denton rises again...

[southsideguy]

You have to go into debt these days to build a new stadium.  Very misleading article.

[NorthTexasWeLove]

2 minutes ago, meangreenJW said:

What ridiculousness by the NT Daily. As we've discussed on here previously, the paper seems to get progressively worse.

indeed. 

Many students are out of touch with reality. 1 of 2 things happen in time...They either grow out of their stupidity or become lifelong losers. 

[meangreenJW]

This explains a lot. One of the writers was a student who filed a petition against the athletic fee. This is why journalism is losing credibility and is susceptible to being attacked as "fake news." This clearly isn't fair or accurate reporting. Link below 

https://studentaffairs.unt.edu/sites/default/files/organizations/student-government-association/documents/Spring 2018 Athletic and Student Service Fee Referendum RESULTS.pdf

[MeanGreenTexan]

1 minute ago, Arkstfan said:

What happens to the dedicated revenue stream when the debt is paid? Does it go away? Does it go to the athletic department? Does it go to the university budget?

THAT is the interesting question.

I think our Chancellor at the time caved to State Legislature pressures to put a cap on the student fee that is funding this revenue.   Supposedly, after the Stadium Bonds are paid off, the fee goes away.   However, a loophole was found that as long as there is some kind of infrastructure bond out, the fee can remain.   So, essentially, this fee is good for building new athletic facilities for the remainder of time.

[Salsa_Verde]

No one on campus reads this paper anyway. 

[Arkstfan]

3 minutes ago, MeanGreenTexan said:

I think our Chancellor at the time caved to State Legislature pressures to put a cap on the student fee that is funding this revenue.   Supposedly, after the Stadium Bonds are paid off, the fee goes away.   However, a loophole was found that as long as there is some kind of infrastructure bond out, the fee can remain.   So, essentially, this fee is good for building new athletic facilities for the remainder of time.

That is actually useful information!

The money used cannot go into the athletic department operating budget.

[MeanGreenTexan]

Journalism has trended this direction anyway over the past few decades (ever since the emergence of Social Media). 
Much of journalism today is basically Op-eds (without the tag), and the writers opinions are stated as facts, or news.   It is not shocking to see the same thing happening to our Alma Mater's student paper.

There is really not a single media outlet anywhere that can be taken at face value anymore (some are way worse than others).

[meangreenJW]

8 minutes ago, Arkstfan said:

What happens to the dedicated revenue stream when the debt is paid? Does it go away? Does it go to the athletic department? Does it go to the university budget?

THAT is the interesting question.

Here's the statute. See letter (e). As long as UNT is financing, constructing, operating, maintaining, or improving an athletic facility or operating an intercollegiate athletics program the fee continues.  

Sec. 54.5191. INTERCOLLEGIATE ATHLETICS FEE; UNIVERSITY OF NORTH TEXAS. (a) The board of regents of the University of North Texas System may charge each student enrolled at the University of North Texas an intercollegiate athletics fee in an amount not to exceed $10 per semester credit hour for each semester or summer session unless the amount is increased as provided by Subsection (g).

(b) A student enrolled in more than 15 semester credit hours shall pay the fee in an amount equal to the amount imposed on a student enrolled in 15 semester credit hours during the same semester or session.

(c) The fee may not be charged before the first semester a new football stadium is available for use at the university.

(d) If compulsory student services fees are charged to students enrolled at the university under Section 54.503, the total amount of those fees charged to a student shall be reduced by $3 per semester credit hour for the first semester in which an intercollegiate athletics fee is charged under this section.

(e) Revenue from the fee charged under this section may be used only for financing, constructing, operating, maintaining, or improving an athletic facility or for operating an intercollegiate athletics program at the university.

(f) The fee may not be charged unless approved by a majority vote of the students enrolled at the university who participate in a general student election held for that purpose. The ballot for the election to approve the fee must state a maximum amount of the fee that may be charged per semester credit hour, not to exceed the maximum amount prescribed by Subsection (a).

(g) The amount of the fee may not be increased to an amount that exceeds by 10 percent or more the amount of the fee as last approved by a student vote under Subsection (f) or this subsection unless the increase has been approved by a majority vote of the students enrolled at the university who participate in a general student election held for that purpose.

(h) The chief fiscal officer of the university shall collect the fee and shall deposit the revenue from the fee in an account to be known as the intercollegiate athletics fee account.

(i) A fee charged under this section is not considered in determining the maximum amount of student services fees that may be charged each student enrolled at the university under Section 54.503.

(j) The fee may not be charged after the fifth academic year in which the fee is first charged unless, before the end of that academic year, the university has issued bonds payable from the fee, in which event the fee may not be charged after the academic year in which all such bonds, including refunding bonds for those bonds, have been fully paid.

[MeanGreenTexan]

Just now, Arkstfan said:

That is actually useful information!

The money used cannot go into the athletic department operating budget.

Correct.   ...For that particular fee.
We recently had another student vote (I want to say last year?) to modify some other fees, essentially bumping the operations budget up quite a bit.

[Cerebus]

5 minutes ago, Arkstfan said:

That is actually useful information!

The money used cannot go into the athletic department operating budget.

(e) Revenue from the fee charged under this section may be used only for financing, constructing, operating, maintaining, or improving an athletic facility or for operating an intercollegiate athletics program at the university.

[ipd054]

Yep, UNT reports facility.  Not a story, this gets reposted by the daily every year.

In fact I think that debt number is down several million from last year.  I will find the number and post.

And just for fun here is some data on debt from a few years ago 

[ipd054]

I guess I did not realize.

You are not supposed.

to write in paragraphs,

or full sentences anymore.

[golfingomez]

5 minutes ago, ipd054 said:

Yep, UNT reports facility.  Not a story, this gets reposted by the daily every year.

In fact I think that debt number is down several million from last year.  I will find the number and post.

And just for fun here is some data on debt from a few years ago 

So you are saying that if Littrell were to go to KSU... it would pretty much be a lateral move?