Colorado State University Athletics
CSU Athletics Presents 2019-20 Financial Report to CSU System Board of Governors
8/7/2020 4:30:00 PM | General
Despite a shortened spring season while operating through the worldwide COVID-19 pandemic, Colorado State Athletics reported another strong financial report for the 2019-20 fiscal year.
FORT COLLINS, Colo. – Despite a shortened spring season while operating through the worldwide COVID-19 pandemic, Colorado State Athletics reported another strong financial report for the 2019-20 fiscal year.
Director of Athletics Joe Parker presented the department's financial report to the CSU System Board of Governors on Aug. 7 during a virtual meeting.
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Highlights of the 2019-20 financial report:
Director of Athletics Joe Parker presented the department's financial report to the CSU System Board of Governors on Aug. 7 during a virtual meeting.
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Highlights of the 2019-20 financial report:
- As it has every year under Parker's five-year tenure, the department out-performed its financial plan.
- Though faced with more than $2 million of expenses incurred during a transition with football coaching staffs that was not part of the year's budget plan on July 1, the department was able to entirely manage those football transition expenses within its planned total expenditures while still receiving $717,000 less in one-time university money than budgeted.
- $1.825 million of the football transition costs reflect a required accounting accrual for the separation agreement with former head football coach Mike Bobo despite actual payments divided across FY 20, FY 21 and FY 22 budget years in equal thirds.
- As a result of the worldwide COVID-19 pandemic, the department saw a decrease in revenues of approximately $1.1 million and still exceeded the budget plan for self-generated revenue by more than $300,000
Wednesday, June 17
Wednesday, May 20
Friday, May 15
Thursday, April 30