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UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Thu Nov 09, 2023 3:07 pm
by Jefe
https://www.chronicle.com/article/u-of- ... ident-says
https://saturdayoutwest.com/arizona-wil ... the-table/
https://www.heartlandcollegesports.com/ ... to-school/
The Arizona Wildcats are one of four Pac-12 schools set to become a member of the Big 12 in 2024, and will be a part of the 16-team league going forward.
Joining the conference was a necessity when the Pac-12 dissolved after being unable to secure a media rights deal that would satisfy their member schools this past summer. However, it appears the school will still have some financial issues to do with soon despite hopping aboard the Big 12 life raft.
Arizona President Robert Robbins recently met with U of A staff to discuss a “financial crisis” that is set to cripple the University in the coming months. In a report from Tucson.com, the details of the issue at hand are laid out on the table.
During a meeting on November 2, Robbins, along with senior vice president and chief financial officer Lisa Rulney told the Arizona Board of Regents that there had been a major miscalculation of the University’s cash on hand. UA had calculated that it had 156 days of cash on hand, but in reality, the school had just 97 days worth, a $240M dollar miscalculation.
Understandably, the faculty and board of regents were shocked that a mistake of that magnitude could even happen.
“How can it be that you were not in the know for such a long time?” asked engineering professor Wolfgang Fink. “Your subordinate officers have an obligation to inform you, not on a monthly or quarterly basis, they have an obligation to inform you literally on a daily if not hourly basis if things like this transpire.”
Some of the faculty members are skeptical of the miscalculation claim, and seem to believe something else is afoot. “Are we going to just let them continue making mistakes and, you know, accept it?” Astronomy professor Lucy Ziurys questioned Robbins. “Because that is a mistake. If I make a $240 mistake on my grants I get nailed by the university. You have all kinds of people in administrative positions, supposedly there to balance the budget and to keep an eye on these things. That is a very bad mistake.”
Robbins says that this mistake is going to lead to “draconian cuts” to the school’s budget, which will come with things like hiring freezes and perhaps even cutting some of the Wildcats’ athletic programs.
With an operating budget of around $100M, the Arizona athletic department is going to be something that could take a major hit with this mistake. According to Tuscon.com’s report, Arizona currently has 23 sports teams. Meanwhile, President Robbins says that other teams in the Big 12 have an average of 17 team sports, which seems to indicate that cutting sports teams is a strong possibility.
“Everything is on the table in terms of dealing with athletics,” he said. “This is an issue that is going to require a lot of tough decisions.”
How this will affect the university in the long term is anyone’s guess, but right now it’s certainly not an ideal situation for the Wildcats.
.......
Arizona miscalculated its budget for the fiscal year by $240 million and now faces the threat of “draconian cuts” that could impact the athletic department, according to a report from the Arizona Daily Star’s Ellie Wolfe.
One physics professor even suggested selling the athletic department in its entirety to a third party for a profit to try and escape what has been termed a “financial crisis.”
According to Wolfe, University of Arizona president Robert Robbins informed professors at a recent monthly faculty senate meeting that the university had initially projected to have 156 days of cash on hand for the fiscal year and, in reality, it has just 97 days of cash on hand. The difference, according to Wolfe, is $240 million.
The school is reportedly instituting a 2% budget cut. Additional measures that are being considered include hiring freezes within colleges running a “structural deficit,” concessioning on-campus amenities such as parking, leasing out land, reducing financial aid commitments, and cutting sports programs within the athletic department.
Robbins reportedly told faculty that other teams in the Big 12 have an average of 17 sports teams. The UA offers 23.
“Everything is on the table in terms of dealing with athletics,” Robbins said, per The Daily Star. “This is an issue that is going to require a lot of tough decisions.”
According to Wolfe, faculty and Robbins believe the $55 million loan made by the university to the athletic department during the COVID pandemic has not been paid back fast enough.
A physics professor at the meeting, Johann Rafelski, reportedly asked the UA president to consider selling the athletics department to an outside vendor.
“People who are qualified to run an athletics department may turn it into a profit,” the physics professor said, per The Daily Star. “We could perhaps get a good sale price.”
Robbins responded to that suggestion by saying that was something he has considered.
The Arizona football program is currently in the midst of a resurgent season. Two years removed from a 1-11 campaign, Arizona has won three straight games against ranked opponents and is bowl-eligible for the first time since 2017. The Wildcats were ranked No. 21 in the latest College Football Playoff rankings.
Head coach Jedd Fisch was asked on Thursday if he has any concern about the program missing out on resources going forward while the university works to get out of the budget hole. He said he’s aware of the situation but is currently focused on Arizona’s Week 11 opponent — Colorado.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Thu Nov 09, 2023 3:23 pm
by dmjcat
This is a massive embarrassment for the University.
240M$$$$$ ?? Was the University investing in Crypto with Sam Bankman-Fried???
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Thu Nov 09, 2023 3:35 pm
by PHXCATS
There are so many ways you can interpret that. That there was $240 Million less than they thought is the absolute most wrong way to take it
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Thu Nov 09, 2023 4:58 pm
by Merkin
Not sure how you can interpret it any other way. It clearly says "cash on hand" several times.
UA had calculated that it had 156 days of cash on hand, but in reality, the school had just 97 days worth, a $240M dollar miscalculation.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Thu Nov 09, 2023 5:08 pm
by PHXCATS
Well the daily burn rate for one
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Thu Nov 09, 2023 5:59 pm
by TheCat
Wait something doesn't make any sense. It says we have an operating athletic budget of $100M. How can you be $240 Million wrong? It says UA had calculated that it had 156 days of cash on hand, but in reality, the school had just 97 days worth, a $240M dollar miscalculation. The difference between 156 and 97 days = 59 days. Are you telling me our burn rate in those 59 days is 4 million a day. I call bullshit.
UA president to consider selling the athletics department to an outside vendor. If this happens I will personally drive that MF'r out of town. Somebody with math skills better look at this again.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Thu Nov 09, 2023 6:24 pm
by azcat49
Sounds to me like he is setting up the reasoning to eliminate 6 programs to align with the Big 12
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Thu Nov 09, 2023 6:58 pm
by Merkin
How can they go through so much money when they make a profit?
Per the DOE as reported by the UA:
https://ope.ed.gov/athletics/#/institution/search
ATHLETIC DEPARTMENT INFORMATION
Director: Dave Heeke
Administration 1 National Championship Drive, Room 233 TUCSON, AZ 85721-0066
Reporting Year: 07/01/2021 - 06/30/2022
Reporting Official: Oscar Portillo
Title: Accountant Senior
Phone: (520) 349-6284
Sanction Body: NCAA Division I-FBS
UA AD revenue: $119,744,767
UA AD expenses: $116,078,717
Non BB and FB revenue $7,810,831
Non BB and FB expenses $25,288,052
The expenses and revenues of non-revenue sports were not broken down though.
Just guessing, but lacrosse, track and field, and cross country are 3 sports that have 12.6 scholarships each. Soccer, swimming and diving, and wrestling has 9.9 scholarships each. Not that UA has all those programs. Baseball is 11.7 scholies, but can't even imagine UA dropping baseball after all those NCs.
And that's just for men. Women, due to Title IX, have the scholarships distributed more. Softball has less scholies than 8 other women's programs.
https://scholarshipstats.com/ncaalimits
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Thu Nov 09, 2023 7:03 pm
by dovecanyoncat
Professor Longhorned ..... Professor Longhorned .....please go to the nearest BDW Panic Paging Telephone .....
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Thu Nov 09, 2023 7:07 pm
by dovecanyoncat
dmjcat wrote: ↑Thu Nov 09, 2023 3:23 pm
This is a massive embarrassment for the University.
240M$$$$$ ?? Was the University investing in Crypto with Sam Bankman-Fried???
This is a Weisselberg level financial balance sheet.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Thu Nov 09, 2023 9:41 pm
by AZCatGirl
Sounds like it's not a big deal and people just love to doom and gloom.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Fri Nov 10, 2023 6:21 am
by EastCoastCat
Just accept 5,000 more out of state students. There, problem solved.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Fri Nov 10, 2023 6:47 am
by TheCat
AZCatGirl wrote: ↑Thu Nov 09, 2023 9:41 pm
Sounds like it's not a big deal and people just love to doom and gloom.
When the President of the university says he has considered selling the Athletic Dept to an outside vendor that is a big deal.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Fri Nov 10, 2023 7:22 am
by dmjcat
The UA is a state university.
At the very least the AZ Board of 'Regents needs to bring in outside accountants to go over the books and get to the bottom of who screwed up............and to ensure that nobody has swindled the taxpayers.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Fri Nov 10, 2023 8:11 am
by Chicat
TheCat wrote: ↑Fri Nov 10, 2023 6:47 am
AZCatGirl wrote: ↑Thu Nov 09, 2023 9:41 pm
Sounds like it's not a big deal and people just love to doom and gloom.
When the President of the university says he has considered selling the Athletic Dept to an outside vendor that is a big deal.
I think that was a professor’s suggestion, not Bobby Bobbins’.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Fri Nov 10, 2023 8:15 am
by PHXCATS
The impact on athletic will be absolutely minimal
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Fri Nov 10, 2023 12:38 pm
by TheCat
Chicat wrote: ↑Fri Nov 10, 2023 8:11 am
TheCat wrote: ↑Fri Nov 10, 2023 6:47 am
AZCatGirl wrote: ↑Thu Nov 09, 2023 9:41 pm
Sounds like it's not a big deal and people just love to doom and gloom.
When the President of the university says he has considered selling the Athletic Dept to an outside vendor that is a big deal.
I think that was a professor’s suggestion, not Bobby Bobbins’.
Agreed that a professor leveled that criticism but here was the response also:“People who are qualified to run an athletics department may turn it into a profit,” the physics professor said, per The Daily Star. “We could perhaps get a good sale price.”
Robbins responded to that suggestion by saying that was something he has considered.
Listen this ain't too hard. I did finance/budgeting for a major corporation and my overhead budget was almost 2 Billion a year. Forecasting in that business for revenues is a lot harder than basketball and football revenues and the cost side is pretty simple with coaching salaries predetermined and other expenses pretty well known or managable. This makes us look like we have NO FN clue.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Fri Nov 10, 2023 12:40 pm
by Chicat
Gross
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Fri Nov 10, 2023 1:22 pm
by U.P. Zona Fan
When a professor makes a ridiculous suggestion like that, it's impolite to laugh in a public meeting and tell them to go jump off a bridge, it is much more polite to say something like I've considered that. Even if you considered it for 2 seconds before you slapped yourself in the face to regain composure.
Who they gonna sell it to? Matt Ishbia?
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Fri Nov 10, 2023 1:47 pm
by 84Cat
U.P. Zona Fan wrote: ↑Fri Nov 10, 2023 1:22 pm
When a professor makes a ridiculous suggestion like that, it's impolite to laugh in a public meeting and tell them to go jump off a bridge, it is much more polite to say something like I've considered that. Even if you considered it for 2 seconds before you slapped yourself in the face to regain composure.
Who they gonna sell it to? Matt Ishbia?
A classic example is Chicago sold all the parking in the city during the 2008 financial crisis. It will cost them Billions in the long run. To show how crazy it is, if Chicago needs to shut down the streets for anything like a parade they have to pay the LLC that now owns the parking for revenue lost. It is a horrible deal for Chicago taxpayers. UA would be nuts to sell anything other than naming rights
https://chicago.suntimes.com/city-hall/ ... es-krislov
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Fri Nov 10, 2023 1:51 pm
by Chicat
Maybe Arte Moreno wants another sports franchise to underfund in order to achieve middling-to-poor results.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Fri Nov 10, 2023 2:20 pm
by PHXCATS
AGAIN. ATHLETICS WILL HAVE MINIMAL IF ANY IMPACT DUE TO THIS
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Fri Nov 10, 2023 2:33 pm
by KillerKlown
We're dead. Sell it all. It's over.
Look how they massacred my boy.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Fri Nov 10, 2023 2:36 pm
by Jefe
azcat49 wrote: ↑Thu Nov 09, 2023 6:24 pm
Sounds to me like he is setting up the reasoning to eliminate 6 programs to align with the Big 12
B12 just announced they are adding Beach VB and Womens Lacrosse next season
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Fri Nov 10, 2023 2:49 pm
by Alieberman
PHXCATS wrote: ↑Fri Nov 10, 2023 2:20 pm
AGAIN. ATHLETICS WILL HAVE MINIMAL IF ANY IMPACT DUE TO THIS
This is true.
Every time the UofA gets itself into financial trouble- athletics always is taken of first at the expense of the rest of the university under Ricky Bobby
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Fri Nov 10, 2023 6:40 pm
by Carcassdragger
Merkin wrote: ↑Thu Nov 09, 2023 6:58 pm
How can they go through so much money when they make a profit?
Per the DOE as reported by the UA:
https://ope.ed.gov/athletics/#/institution/search
ATHLETIC DEPARTMENT INFORMATION
Director: Dave Heeke
Administration 1 National Championship Drive, Room 233 TUCSON, AZ 85721-0066
Reporting Year: 07/01/2021 - 06/30/2022
Reporting Official: Oscar Portillo
Title: Accountant Senior
Phone: (520) 349-6284
Sanction Body: NCAA Division I-FBS
UA AD revenue: $119,744,767
UA AD expenses: $116,078,717
Non BB and FB revenue $7,810,831
Non BB and FB expenses $25,288,052
The expenses and revenues of non-revenue sports were not broken down though.
Just guessing, but lacrosse, track and field, and cross country are 3 sports that have 12.6 scholarships each. Soccer, swimming and diving, and wrestling has 9.9 scholarships each. Not that UA has all those programs. Baseball is 11.7 scholies, but can't even imagine UA dropping baseball after all those NCs.
And that's just for men. Women, due to Title IX, have the scholarships distributed more. Softball has less scholies than 8 other women's programs.
https://scholarshipstats.com/ncaalimits
This confuses me. We don't have a wrestling team.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Fri Nov 10, 2023 8:03 pm
by Merkin
Carcassdragger wrote: ↑Fri Nov 10, 2023 6:40 pm
Merkin wrote: ↑Thu Nov 09, 2023 6:58 pm
How can they go through so much money when they make a profit?
Per the DOE as reported by the UA:
https://ope.ed.gov/athletics/#/institution/search
ATHLETIC DEPARTMENT INFORMATION
Director: Dave Heeke
Administration 1 National Championship Drive, Room 233 TUCSON, AZ 85721-0066
Reporting Year: 07/01/2021 - 06/30/2022
Reporting Official: Oscar Portillo
Title: Accountant Senior
Phone: (520) 349-6284
Sanction Body: NCAA Division I-FBS
UA AD revenue: $119,744,767
UA AD expenses: $116,078,717
Non BB and FB revenue $7,810,831
Non BB and FB expenses $25,288,052
The expenses and revenues of non-revenue sports were not broken down though.
Just guessing, but lacrosse, track and field, and cross country are 3 sports that have 12.6 scholarships each. Soccer, swimming and diving, and wrestling has 9.9 scholarships each. Not that UA has all those programs. Baseball is 11.7 scholies, but can't even imagine UA dropping baseball after all those NCs.
And that's just for men. Women, due to Title IX, have the scholarships distributed more. Softball has less scholies than 8 other women's programs.
https://scholarshipstats.com/ncaalimits
This confuses me. We don't have a wrestling team.
That's why I said: " Not that UA has all those programs"
Just stating high scholarship programs with no revenue. Rowing for example has 20 scholarships. Not sure if any western schools have Rowing outside of Cal, whose program is very well known.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Fri Nov 10, 2023 8:06 pm
by Irish27
I would also sell the naming rights for Arizona Stadium and McKale Center.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Fri Nov 10, 2023 8:20 pm
by AZCatGirl
Irish27 wrote: ↑Fri Nov 10, 2023 8:06 pm
I would also sell the naming rights for Arizona Stadium and McKale Center.
Haven't they been trying to sell the naming rights to Arizona Stadium for years? I thought for sure there was an article about that.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Fri Nov 10, 2023 9:00 pm
by GlobalCat
dmjcat wrote: ↑Fri Nov 10, 2023 7:22 am
The UA is a state university.
At the very least the AZ Board of 'Regents needs to bring in outside accountants to go over the books and get to the bottom of who screwed up............and to ensure that nobody has swindled the taxpayers.
The head of the ABOR has run other universities he’s managed into major budget deficits and believes thinks higher ed should be run by for profit companies.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Tue Dec 05, 2023 10:47 am
by Merkin
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Tue Dec 05, 2023 11:10 am
by Chicat
Get used to 3/4 full crowds.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Tue Dec 05, 2023 11:28 am
by UAEebs86
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Tue Dec 05, 2023 11:41 am
by FreeSpiritCat
That isn't official. Sounds more like clickbait.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Tue Dec 05, 2023 11:46 am
by UAEebs86
Catintheheat wrote: ↑Tue Dec 05, 2023 11:41 am
That isn't official. Sounds more like clickbait.
I think the first story was probably clickbait as well.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Tue Dec 05, 2023 12:10 pm
by ChooChooCat
UAEebs86 wrote: ↑Tue Dec 05, 2023 11:46 am
Catintheheat wrote: ↑Tue Dec 05, 2023 11:41 am
That isn't official. Sounds more like clickbait.
I think the first story was probably clickbait as well.
It's all been clickbait. The next reporter to accurately report this story will be the first.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Tue Dec 05, 2023 2:33 pm
by ASUHATER!
Tickets go up 25% expect McKale to be 70% full even for big games
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Tue Dec 05, 2023 2:57 pm
by PHXCATS
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Tue Dec 05, 2023 3:17 pm
by dovecanyoncat
^^^^^ The farting persecution complex spots yet another crowded elevator.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Tue Dec 05, 2023 3:47 pm
by Merkin
How much did tickets go up last season? I don't live in Tucson so haven't been keeping track, but do recall complaints posted here about ticket prices.
Even if the UA AD didn't have that huge loan to pay back to the university, which they are apparently behind on, how many times have we heard this?
GIVE JEDD FISCH A HUGE RAISE TO STAY!!!!
That millions extra per year has to come from some place.
Even though Tommy doesn't have itchy feet like Fisch, he is entitled to a huge raise too.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Tue Dec 05, 2023 8:01 pm
by KillerKlown
As much as i gave the athletic department shit on the $$$ of ticket prices a few weeks ago i'm a believer in Fisch and will be ready to contribute with a pair of season tickets for the inaugural BIG12 season and being a member of the Desert NIL thingy i believe it's called.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Tue Dec 05, 2023 8:28 pm
by wyo-cat
One can’t really argue about the quality of the product on the field.
Shit, I might re-up my NEZ tix this year. My son is moving back after graduation from uni back east.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Tue Dec 05, 2023 8:45 pm
by FreeSpiritCat
KillerKlown wrote: ↑Tue Dec 05, 2023 8:01 pm
As much as i gave the athletic department shit on the $$$ of ticket prices a few weeks ago i'm a believer in Fisch and will be ready to contribute with a pair of season tickets for the inaugural BIG12 season and being a member of the Desert NIL thingy i believe it's called.
I am considering giving to the NIL monthly. Maybe $25.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Thu Dec 07, 2023 9:36 am
by Jefe
https://www.12news.com/article/news/edu ... d02a6f029a
The clock is ticking for the University of Arizona to finalize a plan to solve its budget crisis. However, a meeting held Monday has sent conflicting messages about where the university's plan stands. There are nine days until the university's deadline to submit its plan to address its financial concerns, but right now we're hearing conflicting reports.
UArizona is looking at a $240 million shortfall. To tackle this issue, the university senate has been meeting with President Robbins.After a meeting Monday afternoon, there were reports of Robbins saying there will "100%" be employee layoffs in sports and ticket-price increases for fans.
However, a senate member who was at the meeting tells News 4 Tucson that President Robbins did not speak concretely about those changes. "Nothing happened. We didn't hear any specific measures. Nothing. Zero," said Dr. Johann Refleski, with the university senate.
Dr. Johaan Refleski explains he's frustrated with how the meeting played out. "We cannot really proceed. Most people in the senate feel ignored because we are there to actually discuss and review and advise what we feel our constituency would want to see but we saw nothing," said Dr. Refleski. "I believe that the executive of the senate will call for an emergency meeting next week... where we demand to see a draft of a plan."
With the university's deadline looming, he, along with the rest of the UArizona community, are left waiting to see if these possibilities of cuts and price hikes will become reality. That deadline is set for Dec. 15.
https://news.azpm.org/p/news-articles/2 ... quisition/
University of Arizona Senior Vice President Paul Pastorek, who oversees the University of Arizona Global Campus, is stepping down just six months after the acquisition of the online university.
Effective Monday, Dec. 4, Dr. Gary Packard took over UAGC. His new title is interim Senior Vice Provost of Online Initiatives. Pastorek was a Senior Vice President who oversaw the online university. Packard currently serves as Dean of the College of Applied Science and Technology. Dr. Nicol Rae will serve as the acting dean of CAST.
Pastorek’s resignation comes one month after the university announced that its financial health is what it termed as "fragile" in a slide during a November 2nd meeting. Following Monday’s faculty senate meeting, UA President Dr. Robert Robbins was asked by an Arizona Daily Star Reporter why Pastorek left. Robbins said, “It was a more long-term issue around incorporation and collaboration between UAGC and our colleges and programs.”
A university spokesperson did not respond to AZPM’s questions about why Pastorek stepped down. According to a report from the Arizona Board of Regents, one of the major causes associated with UA's decrease in cash on hand is the acquisition of the online university. That acquisition, which was finalized this summer, added $265.5 million in operating costs to the University of Arizona, according to ABOR documents.
“I think there’s been a lot of disinformation,” Robbins said during Monday’s faculty senate meeting. “For instance, that UAGC cost $265 million. I have no idea where that came from, but it makes it into an urban legend just with a couple of tweaks and the media gets a hold of it and it becomes its own story.”
Chief Financial Officer Lisa Rulney went on to clarify that UAGC did not cost UA over $200 million. “UAGC’s expenditures will be included in our days cash-on-hand ratio in fiscal year 2024 going forward,” Rulney said. “So there was probably a note about how that impacted the days cash on hand forecast of 97 days for June 30, 2024, when we’re including their expenditures. We’ll also be including their cash.”
During Monday’s faculty senate meeting, Robbins emphasized that UA’s financial issues stem from areas like loans to athletics and overspending in units like the Office of the President.
University faculty have long criticized the UAGC acquisition with some calling it a diploma mill.
“I think many of the faculty of the University of Arizona are very nervous about having our name on the degrees issued by UAGC,” faculty senate chair Dr. Leila Hudson previously told AZPM. “We don't have oversight; we don't have quality control. We have a lot of suspicions based on what we know about its predecessor, Ashford (University).”
In August, the U.S. Department of Education announced that $72 million in student loans would be canceled for borrowers who attended Ashford University after a court ruled that the college misled students about its accreditation, estimated time to graduate, and costs.
The department is now looking to recover money from UA. However, UA claims it had “absolutely no involvement in, and is not directly or indirectly responsible for, the actions of Ashford and its parent company” and will be “assessing its options.”
If the university is required to pay that money to the federal government, it will further deepen challenges to restore its central reserve funding.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Wed Dec 13, 2023 7:55 pm
by 84Cat
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Wed Dec 13, 2023 8:01 pm
by UAEebs86
I guess Bobby found his fall gal.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Wed Dec 13, 2023 8:04 pm
by Alieberman
UAEebs86 wrote: ↑Wed Dec 13, 2023 8:01 pm
I guess Bobby found his fall gal.
Whenever Bobby fucks up... a woman gets fired.
Every fucking time
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Wed Dec 13, 2023 8:12 pm
by Merkin
As being a state university employee for many years myself, I imagine she didn't resign, but retired in lieu of being fired. She has 22 years in there, and a salary of $450K. Just better optics to say "resigned".
https://www.kvoa.com/news/local/ua-pres ... 4ddda.html
Robbins also said they will not be reducing need-based aid for Arizona resident students.
He also stated there will be no furloughs.
"Work already has begun with our Athletics Department to bolster revenues through ticket sales, maximizing media rights contributions, increasing philanthropy, and reducing costs through centralizing administration functions." Robbins said in the university's action plan.
Lot more details here from Robbins himself:
https://www.arizona.edu/financial-updat ... %20website.
No more hiring, and no raises. Delay capital projects. No real impact to athletics.
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Wed Dec 13, 2023 8:35 pm
by MountainCat
Time to finally tear down the westside of the football stadium and rebuild new.
lol
Re: UofA Miscalculated $240M, Athletics in Jeopardy
Posted: Wed Dec 13, 2023 8:38 pm
by dovecanyoncat
Institutional instability can be like a virus .....