BROKE-LAHOMA Can’t Pay Bills...

BROOOOKE- LAHOMA
Where the debt keeps rising on the plains...

LINK:
https://newsok.com/article/5598666/...cing-1-billion-debt-inadequate-operating-cash

SIAP

 

Wow, $1.0B in debt and sizeable operating losses each year!

.... yeah, that growth in the football players payroll just continues to outpace the budget each year!

Bend over students... here comes another whopping tuition increase!!

 

BFD! Something about glass houses comes to mind.

A&M's athletic department lost $20 million each year for at least two years before grabbing their share of Colorado & Nebraska exit fees, and fleeing to the SEC.

Lest we cast stones, our Board decided to turn over management of MD Anderson to Catholic Healthcare Incompetence, who managed to lose $700 million last year, and plans to rectify it by taking over Cali-prune-ya Catholic, which lost only $100 million. Hence, the once great St Luke's Hospital and MD Anderson are being run by a group of Denver cretins that will lose over $1 billion this year.

Buildings are financed by bonds, which require interest, but the "catch 22" for OU is how to balance waiving out of state tuition for Texas residents with keeping enrollment at an acceptable level. FWIW, the steam of qualified TEXAS residents to OU continues, while Fenves, et al continue their political correctness by admitting foreign students, none of whom will ever give a dime back to The University.

I love The University, but hate our administration!

 

Riley just got a big contract, $25 M over five years I think. Which seems to be about the going rate for high level programs.

He’s a state employee, right?

 

OU’s apparent issue is a lack of cash for the necessary operations, despite the non-cash expenses on the quarterly financials. Add those back in and they are still cash deficient. Plus they struggle or just can’t meet their $14.5mm debt service requirement.

 

http://sports.usatoday.com/ncaa/finances/


http://www.tulsaworld.com/sportsext...cle_1c87c2dd-96c8-5929-944c-e9a21945c483.html

“Sometimes the public misunderstands that. They read some expenditure in the athletic department and they think we’re spending state money to pay for that, money we could use for some other purpose. We are not. We are using revenues that are generated by the athletics department, and from a lot of donors, too, a tremendous donor base for the athletic department.”


The data presented in above articles are a couple of years old, but looks like OU could pay Riley about $20,000,000 more per year and wouldn't affect the non-athletics mis-administration of funds a whit.

 

Unless you are a wanna-be high level program desperate for any level of success, then it's 75 million over 10 years.

 

Lot of good stuff here, Sabre. The healthcare/hospital issue in particular really gets under my skin.

 

It will be very interesting to see how some schools keep up as the cost of keeping up continues to skyrocket.

 

OU Blows

 

Keeping up with the Jones's is getting tougher every year. Raising taxes, increasing tuition and shaking down donors won't be enough for many institutions. Significant tuition increases will drive & keep the costs of a college education prohibitive for more and more students.

 

All as more and more jobs become harder and harder to get without the large peacock feathers of a degree...

 

I suggest a two pronged approach :

Mobile classrooms in Walmart parking lots offering an array of communications, criminal justice, and cultural studies degrees... combined with an online presence rivaling the University of Phoenix. They should definitely offer the option of putting your degree on layaway.

 

In keeping with the mobility people in our society like, why not have a degree / diploma drive-thru or Express Lane at said Walmart?

 

Man... I wish I would have thought of that