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Debt Service Number
Posted on: January 24, 2017 at 13:09:25 CT
ScottsdaleTiger MU
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The budget numbers are not quite the complete picture. The AD is part of the University and its revenue goes into and its expenses are paid from the university's general accounts. If the AD's expenses exceed it's revenue, the university simply covers the shortfall.
In 2012/13, the AD had a 14 million cash shortfall due to having to forfeit the last Big XII distribution. A couple of years ago, the AD indicated it would repay the Universiy over several years, presumably without interest.
The AD is also making payments on the $52 million of bonds issued by the University for the last renovation of Memorial Stadium.
The Article lists debt service as $7.1 million. It doesn't indicate if that number includes any sums being "repaid" to the University for covering the 14 million cash shortfall.
In 2012/13, the AD had a 14 million cash shortfall due to having to forfeit the last Big XII distribution. A couple of years ago, the AD indicated it would repay the Universiy over several years, presumably without interest.
The AD is also making payments on the $52 million of bonds issued by the University for the last renovation of Memorial Stadium.
The Article lists debt service as $7.1 million. It doesn't indicate if that number includes any sums being "repaid" to the University for covering the 14 million cash shortfall.
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Debt Service Number - ScottsdaleTiger MU - 1/24 13:09:25