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First, I'm an idiot and have been listening to KK this afternoon (trying to get by until game time, but only getting tractor pulls and calf raising reports from Arrowhead).
Second, there is a difference between a corporation like KUAC having liabilities and losing money. The LJW and KK are both spinning/making it sound like KU has $93M loss on the books. That's not the case. We have over $143M in assets and $93M in liabilities. That is a ratio of 1.5:1.0.
If you compare the previous year number of KU and K-State (I could find the most recent K-State numbers and wanted to do apples to apples), this is what you get:
2008-2009
KU Assets $143M
KU Liabilities $93M
Ratio 1.5:1.0
2007-2008
KU Assets $134M
KU Liabilities $73M
Ratio 1.8:1.0
2007-2008
KSU Assets $52M
KSU Liabilities $36M
Ratio 1.44:1.0
In comparing revenues, we come up with the following numbers:
2008-2009
KU Total Revenue $85M
KU Total Expenses $64M
KU Rev-Exp $21M
2007-2008
KU Total Revenue $84M
KU Total Expenses $61M
KU Rev-Exp $23M
2007-2008
KSU Total Revenue $48M
KSU Total Expenses $41M
KSU Rev-Exp $7M
In short, the media should do a little more research on this topic and do some comparison. Accounting numbers on their own can look horrible or great with out a proper comparison.
(Yes, dumb for me to suggest the media do more homework before running with a story).
Second, there is a difference between a corporation like KUAC having liabilities and losing money. The LJW and KK are both spinning/making it sound like KU has $93M loss on the books. That's not the case. We have over $143M in assets and $93M in liabilities. That is a ratio of 1.5:1.0.
If you compare the previous year number of KU and K-State (I could find the most recent K-State numbers and wanted to do apples to apples), this is what you get:
2008-2009
KU Assets $143M
KU Liabilities $93M
Ratio 1.5:1.0
2007-2008
KU Assets $134M
KU Liabilities $73M
Ratio 1.8:1.0
2007-2008
KSU Assets $52M
KSU Liabilities $36M
Ratio 1.44:1.0
In comparing revenues, we come up with the following numbers:
2008-2009
KU Total Revenue $85M
KU Total Expenses $64M
KU Rev-Exp $21M
2007-2008
KU Total Revenue $84M
KU Total Expenses $61M
KU Rev-Exp $23M
2007-2008
KSU Total Revenue $48M
KSU Total Expenses $41M
KSU Rev-Exp $7M
In short, the media should do a little more research on this topic and do some comparison. Accounting numbers on their own can look horrible or great with out a proper comparison.
(Yes, dumb for me to suggest the media do more homework before running with a story).
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