Audit Questions U C F's Athletic Funding Practices

MeanGreen61 · March 31, 2008

A state audit has the University of Central Florida changing the way it pumps money into its athletics program.

State auditors criticized UCF for its unusual practice of lending money to the UCF Athletics Association, a 4-year-old organization that does not fall under the requirements of Florida's sweeping open-records law. Auditors found the university had no repayment plan for the loans, which amounted to $9.5 million.

Auditors also took the school to task for diverting athletics fees, which students are required to pay, directly to the association without having an adequate way to monitor how the money was spent. Students at UCF pay an athletics fee of $11.72 per credit hour.

UCF to revamp athletic funding in wake of audit report

http://www.orlandosentinel.com/community/n...0,6292905.story

DeepGreen · March 31, 2008

Oops! :unsure:

LongJim · March 31, 2008

GreenAlums · March 31, 2008

I guess all that glitters is NOT gold! This should be interesting to watch. If this is a national trend of financial activity in athletics I'm glad we get to see it elsewhere before we decided to try it !!! Not that we would of course!!!

ADLER · March 31, 2008

What a non-issue. OK, so the same expenitures will now be monitored more closely by the university.

The facts are that the money that the university has been investing in athletics has been an incredible investment.

So, 32,717 students pay roughly $12 per credit hour...UCF has in the last year...costructed and opened a 45,000 seat football stadium, a 10,000 seat basketball arena, been on national television several times, hosted the UT Longhorns (you know, the big school from our own state that we have never hosted in 90 years of football) and won the conference championship of the conference that we can only dream of gaining admittance to....

Those people spending the money should be given awards for spending wisely. In this case, the ends do justify the means. The Athletic expenditures at Central Florida have significantly raised the stature of that school. Alumni from Central Florida are proud to be associated with their school and that's been reflected in increased donations.

To quote Robert Dinero in the film Awakenings "LEARN!!!"

Edited March 31, 2008 by ADLER

NT80 · April 1, 2008

What a non-issue. OK, so the same expenitures will now be monitored more closely by the university.
The facts are that the money that the university has been investing in athletics has been an incredible investment.
So, 32,717 students pay roughly $12 per credit hour...UCF has in the last year...costructed and opened a 45,000 seat football stadium, a 10,000 seat basketball arena, been on national television several times, hosted the UT Longhorns (you know, the big school from our own state that we have never hosted in 90 years of football) and won the conference championship of the conference that we can only dream of gaining admittance to....
Those people spending the money should be given awards for spending wisely. In this case, the ends do justify the means. The Athletic expenditures at Central Florida have significantly raised the stature of that school. Alumni from Central Florida are proud to be associated with their school and that's been reflected in increased donations.
To quote Robert Dinero in the film Awakenings "LEARN!!!"

You forgot it helped them average almost 40,000 fans this past season, and probably gained them the next Big East (Yes, BCS) invite. Sounds like a great investment to me!

Green to the Bone · April 1, 2008

What a non-issue. OK, so the same expenitures will now be monitored more closely by the university.
The facts are that the money that the university has been investing in athletics has been an incredible investment.
So, 32,717 students pay roughly $12 per credit hour...UCF has in the last year...costructed and opened a 45,000 seat football stadium, a 10,000 seat basketball arena, been on national television several times, hosted the UT Longhorns (you know, the big school from our own state that we have never hosted in 90 years of football) and won the conference championship of the conference that we can only dream of gaining admittance to....
Those people spending the money should be given awards for spending wisely. In this case, the ends do justify the means. The Athletic expenditures at Central Florida have significantly raised the stature of that school. Alumni from Central Florida are proud to be associated with their school and that's been reflected in increased donations.
To quote Robert Dinero in the film Awakenings "LEARN!!!"

Whether the university gains from the practice, or whether they get bowl bids or whatever, is completely irrelevant to the auditors' concerns. Their job is to make sure there's accountability and public oversight in the spending of public money. If the university can't spend public money in a way that withstands public scrutiny, they need to rethink their practices.

Everyone who disagrees with the notion that the public is entitled to know what's being done with public money, please weigh in now.

Quoner · April 1, 2008

Everyone who disagrees with the notion that the public is entitled to know what's being done with public money, please weigh in now.

We condemn this practice when other schools do it, but if that is what it takes here, so be it. I'm shocked you didn't know that and belittle you in the tone of my prose.

/Backs away, waits for GMG's collective head to explode if an important team member is ever arrested for anything or the university breaks a rule

ShopMeanGreen · April 1, 2008

What a non-issue. OK, so the same expenditures will now be monitored more closely by the university.
The facts are that the money that the university has been investing in athletics has been an incredible investment.
So, 32,717 students pay roughly $12 per credit hour...UCF has in the last year...costructed and opened a 45,000 seat football stadium, a 10,000 seat basketball arena, been on national television several times, hosted the UT Longhorns (you know, the big school from our own state that we have never hosted in 90 years of football) and won the conference championship of the conference that we can only dream of gaining admittance to....
Those people spending the money should be given awards for spending wisely. In this case, the ends do justify the means. The Athletic expenditures at Central Florida have significantly raised the stature of that school. Alumni from Central Florida are proud to be associated with their school and that's been reflected in increased donations.
To quote Robert Dinero in the film Awakenings "LEARN!!!"

Wrong. That is a huge issue. Government, whether State (Univ.) or Federal must be held accountable for the way OUR money they are given is spend. All of the improvement certainly paid off and I hope NT can do the same but that does not give the University the right to mislead the public. The students don't have a choice in paying the fees so one could argue the athletic fee is a tax, not to mention the other tax money the university spends. It is no more correct for the university to misappropriate those funds as it would be for a government official to pay for a weekend with a hooker with tax money. If the University felt the money would be well spent and could justify spending the money it should be out in the open not done it through the back door. Please think about the huge amount of tax money taken from each of us (assuming you are paying taxes and not still living off mom and dad) and how that money is spent before November when you have the chance to vote for a Socialist. ( The previous political statement was entirely mine and may not be the view of the administrators of this site)

Todd

filmerj · April 1, 2008

All of the improvement certainly paid off and I hope NT can do the same but that does not give the University the right to mislead the public.

I am not saying this is right, but had they not done things this way, I am sure they wouldn't have the facilities they have now. Also we have been misled for years.

Edited April 1, 2008 by filmerj

ShopMeanGreen · April 1, 2008

No matter the out come it is still wrong! If it was such a great idea (which it turned out to be) they should have done everything above board. Now it is a scandal, done correctly they would have been the greatest administration the university had ever seen. I can only guess what the