OU is a BILLION dollars in debt!

[dlbleak]

Boren wrote SQ 779 that gave millions to higher education. He tried to sell it as a raise for k-12 teachers but the university's were going to get a healthy chunk.

 

[jstaylor62]

There's been talk for several years that Boren was great at getting new buildings built, but they were costing the University too much in expenses to support. The University used to generate their own electricity, heating and cooling for much of the campus, but many of the new buildings could not be added, so they had to start buying utilities.

 

[JD8]

What else do we have to brag about? Seriously...what else?

Seems our pessimism and cynicism is pretty strong?

 

[C_Hallbert]

See above about "separate corporate entity." The university isn't paying coaches anything.

As to donations vs. expenditures, well, there's definitely room to audit the budget. With a meathook.

With the University and the Football Enterprise existing as Separate Corporate Entities, it seems the relationship is similar to a married couple with the same last name living together in the same residence with one earning significant income, the other with a monumental spending problem and budgetary deficit in a class with poorly managed States or Nations while both enjoy the benefits of community property consisting of their home and grounds and its prominent location. Hmmmm......something wrong here!


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[Dale00]

Quite the legacy for a liberal politican/Univerisity President. isn't it?

Based on the experience of my kids while students there, I would say that the administration is about 3 times too large. They have bureaucrats to try to cover every possible aspect - so many that they do not effectively work with each other. The student experience is much like the ball in a pinball machine when they must follow numerous false leads and dead ends when there is a problem or a permisiion of some sort is needed. And of course, every bureaucrat has a very nice to opulent office.

The second problem area is the proliferation of new luxury apartments...the term "dorm" hardly applies.

Open the books, OU. I dare you.

 

[KOPBET]

Big pocketed alums will probably step up with bail money.

I think the bail money should come from the athletes themselves...

 

[Okie4570]

Borengate cometh?

 

[Shadowrider]

Big pocketed alums will probably step up with bail money.

A billion, that's a heavy lift for donations. I think you'd need several Gaylords to cover that.

 

[SMS]

A billion in debt? Big deal.

They have over $1.6 Billion in their endowment and a publicly advertised $941 million in annual revenue from state appropriations, tuition, grants, contracts etc...

I think a college full of smart people can figure out how to structure and handle $1 billion in debt within that context....without holding their hand out for more money from the taxpayers.

 

[skyhawk1]

Well I think donations for sports are going to drop like a rock from now on. As of Jan.1 this year they are no longer tax deductible. As longtime season football ticket holders my wife and I thought long and hard about what we donate and we gave the same this year but probably not again. Somebody said one of the good things about Oklahoma (and there are a lot) was the Arbuckles...have you seen them lately? Wind towers EVERYWHERE!