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  1. #51

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by Pete View Post
    From that article:



    With the $70 million in annual debt service, it caused the unversity's net income to be a negative $36 million last year.


    Also, 6% on $1 billion is $60 million not $6 million.
    See what an OU edukation gets you? LOL.
    Thanks for the korrection. Using a smartphone tires my eyes.

  2. #52

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by PhiAlpha View Post
    Yes this is really annoying. At any rate, I would say that OU gets a pretty great return on investment for every dollar they pay a successful head football coach. The athletic program is immensely more profitable when the football team is competing for national championships, completing 10 wins seasons, and getting tons of national exposure. It provides funding for the rest of the sports and the university. Additionally, a strong athletic program that is constantly in the national spotlight is a great recruiting tool not only for athletes but non-athletes as well.
    I would imagine a few of those athlete alums become donors down the line

  3. #53

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by ditm4567 View Post
    As a recent graduate of OU there are a few things that I would love to address that President Designate Gallogly pointed out. First, I do not know how many of you all that are on this thread have actually been inside the buildings on the Norman campus recently, but many are extremely outdated. Yes, the outsides of most are beautiful (because that's all that OU has paid to be kept up for appearance purposes) but the insides of most haven't been touched since they were built. Many of the classrooms do not have functioning A/C, and the blinds are either nonexistent or are broken and barely hanging from the walls. Many classrooms do not even have an HDMI port that can connect laptops to projectors. Second, the sad fact that the building named after him might not have enough funding to be finished is a horrible look for the university and how Boren left it. Third, kudos to Gallogly for not simply just increasing tuition and putting the burden on the students shoulders (I saw in-state tuition increase 19.1% over the last four years). Many students are already taking out federal loans to pay tuition (36% of incoming freshman). And fourth, I would love to know what the University was thinking in continuing to build student living. The newest dorms, Cross Neighborhood, are just 26% leased for the upcoming year.

    Just throwing out some thoughts from a recent graduate.
    It was pretty much the same when I was there 35 years ago. The architecture school was in the north end of the stadiums but we had classes all over the campus. My freshman year my Basic Design/Graphics lab was in the basement of the Old Science Hall. Snow would blow in from the bad windows and we had a bunch of snow that year. We couldn't leave any drawing on the board as the snow coming in would ruin it.

  4. #54

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by ultimatesooner View Post
    Education is valuable but OU already gets plenty of tax $$, the problem is Boren and his wife spending as much as they possibly can on every construction project/marketing campaign so they have a bunch of pretty pictures to show off what "they did"

    he should have ran the place on a balanced budget like the rest of us in the the real world have to live on
    Higher education has been cut about every year in Oklahoma

    The debt payments are not why OU is in debt. The budget is over a billion a year so yea debt payment are around 6%. Which is in line

  5. #55

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by ultimatesooner View Post
    Education is valuable but OU already gets plenty of tax $$, the problem is Boren and his wife spending as much as they possibly can on every construction project/marketing campaign so they have a bunch of pretty pictures to show off what "they did"

    he should have ran the place on a balanced budget like the rest of us in the the real world have to live on
    You don't have a mortgage?

    You get a motgage based on a level of income. If your tax revenues have been consistently reduced by small-minded legislators and donations have suffered due to the slowdown in that sector, sometimes cash pinches are unforseen. Boren oversaw the building of quality, architecturally proper buildings in an acedemic environment - not the most expensive building he could. A successful university isn't made of trailer homes but facilities where you can attract quality professors as well as students. My son felt comfortable there because of those structures and I am proud of him to be a 4th generation Sooner. I'm sorry if you can't see the value of a quality education, but unless you want a robot to replace your child someday at work (or you are a raving genious), a higher level quality education is a must.

  6. #56

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    To be fair, the robots will obviate plenty of folks with bachelors degrees or better. We’re already seeing the effects of technology on the legal profession, for example. Research that historically required 10+ associates can now be accomplished by one or two because of services like Lexis, Westlaw, and IBM’s Watson. This is one of the chief reasons why attending law school has become such a terrible idea for most people.

  7. Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by aDark View Post
    An SAE who hates Boren? No way! /s
    Shocking, I know

  8. #58

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by ditm4567 View Post
    As a recent graduate of OU there are a few things that I would love to address that President Designate Gallogly pointed out. First, I do not know how many of you all that are on this thread have actually been inside the buildings on the Norman campus recently, but many are extremely outdated. Yes, the outsides of most are beautiful (because that's all that OU has paid to be kept up for appearance purposes) but the insides of most haven't been touched since they were built. Many of the classrooms do not have functioning A/C, and the blinds are either nonexistent or are broken and barely hanging from the walls. Many classrooms do not even have an HDMI port that can connect laptops to projectors. Second, the sad fact that the building named after him might not have enough funding to be finished is a horrible look for the university and how Boren left it. Third, kudos to Gallogly for not simply just increasing tuition and putting the burden on the students shoulders (I saw in-state tuition increase 19.1% over the last four years). Many students are already taking out federal loans to pay tuition (36% of incoming freshman). And fourth, I would love to know what the University was thinking in continuing to build student living. The newest dorms, Cross Neighborhood, are just 26% leased for the upcoming year.

    Just throwing out some thoughts from a recent graduate.
    Looking up In-State Tuition & Fee rates from school year 2010 - 2011 to 2018 -2019 I did some back of the hand calculations to adjust previous years rates with inflation numbers from the BLS (found here https://data.bls.gov/timeseries/CUUR...iew=pct_12mths). I averaged the time from August to June of the following year.

    Unadjusted for Inflation
    2010-11 $6,784
    2011-12 $7,125
    2012-13 $7,341
    2013-14 $7,341
    2014-15 $7,695
    2015-16 $8,065
    2016-17 $8,631
    2017-18 $9,063
    2018-19 $9,063

    Overall percent increase in Tuition year over year 29.71% with an average of 3.71%.

    Adjusted for Inflation (May 2018 dollars)
    2010-11 $7,818
    2011-12 $7,913
    2012-13 $8,016
    2013-14 $7,897
    2014-15 $8,139
    2015-16 $8,514
    2016-17 $9,016
    2017-18 $9,287
    2018-19 $9,287

    Overall percent increase in Tuition year over year 17.61% with an average of 2.20%.

  9. #59

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Nm

  10. #60

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    https://newsok.com/article/5600051/o...s-on-first-day

    President Gallogly really hit the ground running...

  11. #61

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by BoulderSooner View Post
    OU athletic dept is not only fully self sufficient. It also gives money back to the university every year

    In addition t paying for the full cost of tuition for the instate and out of state athletes OU gives 5 plus mil back to the general fund every year.

    OU is one of very few schools that operate this way. And the only one in this state.

    Osu for instance gets almost 5 mil from the university genera budget. Ie the tax payers of Oklahoma for their sports.
    Hell ya we do.

  12. #62

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by mugofbeer View Post
    You don't have a mortgage?

    You get a motgage based on a level of income. If your tax revenues have been consistently reduced by small-minded legislators and donations have suffered due to the slowdown in that sector, sometimes cash pinches are unforseen. Boren oversaw the building of quality, architecturally proper buildings in an acedemic environment - not the most expensive building he could. A successful university isn't made of trailer homes but facilities where you can attract quality professors as well as students. My son felt comfortable there because of those structures and I am proud of him to be a 4th generation Sooner. I'm sorry if you can't see the value of a quality education, but unless you want a robot to replace your child someday at work (or you are a raving genious), a higher level quality education is a must.
    thanks but i do have a mortgage and keep it a small enough % that i can handle unexpected fluctuations, my wife is self employed with an income that can vary so we prepare according. I know/work with several contractors who redid lots of $$ worth of work that was fine just because david and/or molly wanted to make changes.

  13. #63

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    I am hoping that this will influence the short sighted proposal to have the University and city of Norman build an (unnecessary) arena that neither will own !

  14. #64
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    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by soonerstan56 View Post
    I am hoping that this will influence the short sighted proposal to have the University and city of Norman build an (unnecessary) arena that neither will own !
    Let’s see.... OU gets a new arena without spending its own money. Yes,I can see where you think this is a bad idea since they are looking for ways to save money.

  15. #65

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    ^

    OU will be paying rent and not keeping concession revenue.

    Yes, they will get to use a new arena but it won't be close to free.

  16. #66
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    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Their stadium is outdated. To stay competitive they must do something. In you guys’ scenario they can’t win. If they stay where they are and continue to struggle and lose patrons and ticket revenue you will be critical. If they spend more money on the outdated arena or build a new one themselves, you will be critical. If they go forward with the new arena arrangement, you will be critical. Hmmmm.

  17. #67

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    I wonder how countries that focus on academics and don’t have athletics mixed into their higher education while serving as a “free” developmental league for professional sports are able to hang on.

  18. #68

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by d-usa View Post
    I wonder how countries that focus on academics and don’t have athletics mixed into their higher education while serving as a “free” developmental league for professional sports are able to hang on.
    They value and see the importance of education for one thing. Another thing is that a lot of cultures don't see 4 years of college as an excuse for their young to party which equates to a resort so their students manage to learn with much less.

  19. #69

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by d-usa View Post
    I wonder how countries that focus on academics and don’t have athletics mixed into their higher education while serving as a “free” developmental league for professional sports are able to hang on.
    I wonder why so many of those countries send their best students here?

  20. #70

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by Rover View Post
    Let’s see.... OU gets a new arena without spending its own money. Yes,I can see where you think this is a bad idea since they are looking for ways to save money.
    Saving money by spending money is never a sound policy. The proposed plan is for the city of Norman (of which I am a resident ) and the OU foundation ,which directs the private donations as a non profit entity to build an arena, (that may or may not be needed) and direct those funds away from other needs the university could put to better uses is a separate issue .
    I don't feel the university requires a new arena as the current one meets all the needs of the school. I do not see the need to involve the university in the entertainment needs of those who have no investment in the outcome of any venture.

    S.S.

  21. #71
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    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    And once again you all ignore that athletics at OU actually creates a profit for the university. Not to mention the donations it draws for the academics. Let’s not let facts get in the way.

  22. #72

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by Rover View Post
    Their stadium is outdated. To stay competitive they must do something. In you guys’ scenario they can’t win. If they stay where they are and continue to struggle and lose patrons and ticket revenue you will be critical. If they spend more money on the outdated arena or build a new one themselves, you will be critical. If they go forward with the new arena arrangement, you will be critical. Hmmmm.
    Correct me if I'm wrong, but this new stadium isn't replacing Lloyd Noble, right? OU athletics will just use it for some events and continue to use Lloyd Noble for events too. Besides, OU has recently pumped a lot of money into practice facilities connected to Lloyd Noble.

    Personally, I think OU should build an on-campus arena next to the track and across the street from the football stadium.

    Or, my urbanist solution for the parking lot that is Lloyd Noble is to do a public-private partnership to surround Lloyd Noble with mixed use student housing, restaurants, and more. The development would push out to the edges of the lot, thus leaving intimate outdoor spaces between Lloyd Noble and the new development. A parking garage or two could be either integrated or put nearby to address parking. That's my dream to fix that area.

  23. #73

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by Rover View Post
    And once again you all ignore that athletics at OU actually creates a profit for the university. Not to mention the donations it draws for the academics. Let’s not let facts get in the way.
    100% this

  24. #74

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    The difference between making a profit and making a loss are private contributions to the athletic program.

  25. #75

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by d-usa View Post
    The difference between making a profit and making a loss are private contributions to the athletic program.
    are you sure? Sooner Sports TV alone brings the athletic department in just under $6 million a year, and then the shared big12 tv revenue was around $37 million. then their part on concessions, ticket sales, money for bowl appearances and other events with payouts, etc... I don't know all of the expenses... but the revenue coming in is pretty substantial without private contributions...

    and can you really count required "contributions" to get season tickets as private contributions? much like PSL's in Pro Stadiums, they are just a different form of revenue.

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