JP & ISU was first..

[motorcy90]

Jamie Pollard was really the first to publicly acknowledge the situation. KSU, and UNI have both issued statements about cutting salaries so far..

https://www.espn.com/college-sports...otball-men-hoops-coach-agree-salary-reduction

https://wcfcourier.com/sports/colle...cle_3424d9e0-b34e-5bdc-a36e-bea4ac2be96f.html

 

[nfrine]

Berta probably signed everyone at EIU to new 10 year extensions with big buyouts...but we will never know.

 

[flander1649]

I saw KU recently do the same thing.

 

[knowlesjam]

Most are waiting until the last minute to make salary adjustments...I'd expect at least June for the AD's see if the football season looks like it will be delayed or stay on schedule. If you believe Iowa, things are rosy and ready to go starting June 1st.

 

[2forISU]

I saw that UI already had roughly a $200MM loss since the start of Covid. Just image if there is no football or fall semester, we might be bailing out universities.

 

[mj4cy]

I saw that UI already had roughly a $200MM loss since the start of Covid. Just image if there is no football or fall semester, we might be bailing out universities.

Isn't mind boggling to consider that? These schools normally can't spend the money fast enough from what they rake in. Non profit status is a funny thing.

 

[Psyclone]

I saw that UI already had roughly a $200MM loss since the start of Covid. Just image if there is no football or fall semester, we might be bailing out universities.

According to the Register "Iowa State now projects $88 million in refunds and lost revenue and close to $1 million in new expenses through the end of August."

"Financial losses at the University of Iowa are expected to reach $76 million, and UNI expects $28 million in losses."

Iowa's public universities expect to lose $187 million as result of the coronavirus pandemic

 

[BCClone]

If I take the refund the kid got from ISU, roughly $2300; and consider that 11,000 kids live in the dorms (that is what the refunds were for) that equates to $25MM. I'm not sure what the other $60 million would be. I doubt there is that much summer school. I would also think that they would have some decent savings in food and utility costs and other things. I guess I don't understand where all the losses are coming from.

 

[LivntheCyLife]

If I take the refund the kid got from ISU, roughly $2300; and consider that 11,000 kids live in the dorms (that is what the refunds were for) that equates to $25MM. I'm not sure what the other $60 million would be. I doubt there is that much summer school. I would also think that they would have some decent savings in food and utility costs and other things. I guess I don't understand where all the losses are coming from.

It would be interesting to see the breakdown but keep in mind ISU does a lot beside teaching the students on campus through conferences, veterinary services, athletics, government contracts, research grants, extension services, revenue from visitors, etc.

Iowa State's total operating budget is about $1.25B with $274M in state appropriations. Last year's revenues were $952M of which $373M was tuition. $227M of revenue is auxiliary enterprises which includes revenues generated by the Athletic Department, University Book Store, Iowa State Center, Memorial Union, Parking System, Recreation Services, Regulated Materials Handling Facility, Reiman Gardens, Residence Department, ISU Dining, Student Health Center, Telecommunications System, and Utility System. Iowa State pulls in about $174M in grants and contracts. Then $70M in sales and services of educational activities.

http://www.controller.iastate.edu/far/finreport19.pdf

 

[Cycsk]

Jamie Pollard was really the first to publicly acknowledge the situation. KSU, and UNI have both issued statements about cutting salaries so far..

https://www.espn.com/college-sports...otball-men-hoops-coach-agree-salary-reduction

https://wcfcourier.com/sports/colle...cle_3424d9e0-b34e-5bdc-a36e-bea4ac2be96f.html

Budgets for team swag are going to be way down this year, especially for non-revenue sports!

 

[Gonzo]

If I take the refund the kid got from ISU, roughly $2300; and consider that 11,000 kids live in the dorms (that is what the refunds were for) that equates to $25MM. I'm not sure what the other $60 million would be. I doubt there is that much summer school. I would also think that they would have some decent savings in food and utility costs and other things. I guess I don't understand where all the losses are coming from.

You must've sprung for the top meal plan? Our refund was around $1,800.

 

[Cycsk]

What are tenants of private landlords doing? Did most just stay in town? Get a refund? Break their leases and dump the deposits?

 

[BCClone]

It would be interesting to see the breakdown but keep in mind ISU does a lot beside teaching the students on campus through conferences, veterinary services, athletics, government contracts, research grants, extension services, revenue from visitors, etc.

Iowa State's total operating budget is about $1.25B with $274M in state appropriations. Last year's revenues were $952M of which $373M was tuition. $227M of revenue is auxiliary enterprises which includes revenues generated by the Athletic Department, University Book Store, Iowa State Center, Memorial Union, Parking System, Recreation Services, Regulated Materials Handling Facility, Reiman Gardens, Residence Department, ISU Dining, Student Health Center, Telecommunications System, and Utility System. Iowa State pulls in about $174M in grants and contracts. Then $70M in sales and services of educational activities.

http://www.controller.iastate.edu/far/finreport19.pdf

The athletic department is stand alone so that should not be factored in.

 

[BCClone]

You must've sprung for the top meal plan? Our refund was around $1,800.

He had the 200 swipe one. For some reason his card must have not swiped well since it showed he at like 8 meals a week so he had a lot of swipes left.

 

[Gonzo]

He had the 200 swipe one. For some reason his card must have not swiped well since it showed he at like 8 meals a week so he had a lot of swipes left.

Ah. We got daughter 1 the default meal plan for residence halls, she got a certain # of weekly meals at her sorority house, and she used a bunch of dining dollars to grab food at other places around campus, mostly the HUB.

 

[Showtimeljs]

I think the universities will need a bailout and I bet Ames will need a bailout as well, especially if football doesn't happen (~$63 million in lost revenue):
https://www.desmoinesregister.com/s...020-iowa-state-cyclones-ames-ncaa/3054840001/

 

[LivntheCyLife]

The athletic department is stand alone so that should not be factored in.

I think it probably includes both though. I think the $85 million is both general fund and restricted budget (the auxiliary units that receive no state funding) or what I think you mean by stand alone. The problem is everything is still run by ISU employees, has ISU maintenance, ISU services and utilities.

 

[BCClone]

Ah. We got daughter 1 the default meal plan for residence halls, she got a certain # of weekly meals at her sorority house, and she used a bunch of dining dollars to grab food at other places around campus, mostly the HUB.

The Hub is Mediterranean food now isn't it? I can't remember. It was just vending machines when I went to school.

 

[Gonzo]

The Hub is Mediterranean food now isn't it? I can't remember. It was just vending machines when I went to school.

Yeah I think so mainly, had a great grilled chicken bowl there on our last visit, but the other side is fancy/expensive coffee drinks and bagels/bagel sandwiches which is her thing.