Colorado State University Athletics

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CSU Athletics Announces 2018-19 Financial Results

1/24/2020 10:02:00 AM | General

Results part of NCAA's annual reporting requirements for Division I athletic departments

FORT COLLINS, Colo. - The Colorado State University Department of Athletics has submitted its 2018-19 financial report to the NCAA as part of the NCAA's annual reporting requirements for all Division 1 athletic departments. A PDF copy is available HERE. The department doubled its stadium bond payment from year-to-year ($4 million to $8 million) and Canvas Stadium saw a highly successful second year of operation.
 
Highlights of the 2018-19 financial report:
  • Canvas Stadium had a financially successful second year of operation with revenue increasing by almost $1.5 million compared to the prior year before including an additional $1.775 million of revenue due to the Tax Cuts and Jobs Act of 2017 (TCJA17) causing total Canvas Stadium revenues to exceed FY 18 by more than $3.2 million
  • Revenue from Canvas Stadium outpaced the CSL model by almost $5 million excluding the TCJA17 adjustment.
  • Due to the TCJA17 Premium and Priority seat donations are now held directly by the university rather than the CSU Foundation. Previous year pro formas only reflected the amount transferred from the CSU Foundation to the university.  In order to adapt to the tax law change the FY 19 pro forma and future FY pro formas will reflect all Premium and Priority seat donations for that year.
  • Total stadium expenses (exclusive of the bond payment) were approximately $2.9 million; a reduction of just over $177,000 from FY 18.   Total expenses exceed the 2012 CSL model by more than $1.5 million due to significant changes in the landscape of security and fan expectations since 2012.
  • Game day expenses for the 2018 football season were reduced almost $200,000 due to aggressive cost containment steps after assessment of the 2017 season and despite about $70,000 in additional game day staffing expenses due to deployment of magnetometers for the 2018 season
  • While absorbing those expenses, Athletics still:
    • Made a more than $8 million bond payment;
    • Returned $200,000 to campus for academic purposes.
    • Returned to the rest of the Athletic Department an extra $1.996 million beyond what was realized from Hughes Stadium.
  • Other department self-generated revenue from sources other than Canvas Stadium exceeded budget by more than $1 million in 2018-19.
Links:
FY19 NCAA Report
FY18 NCAA Report
FY17 NCAA Report
FY16 NCAA Report
FY15 NCAA Report
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