[This is not the typical format I use to present the latest results. There's a new sheriff in town (ULAA "Chief Financial Officer"), and I'm currently being stonewalled on the detailed report. But I'm not easily discouraged...]
I received a one-page summary prepared for attendees at a ULAA quarterly review on October 6, 2023. While it's not as informative as it needs to be, it does provide a snapshot of where things are as a department, if not for individual sports. I'll do the macro view first.
Here's the progression of fiscal year Q1 revenues ending September 30 and dating back as far as I have numbers...
Obviously, we're struggling in basketball, but I was surprised to see departmental revenues just keeping pace with last year. Problems in basketball didn't just start this year, and Brohm has football in high gear. I talked about this several months back (LINK), but the budget this year is up significantly from FY2023. I thought too much so, and I may be proven right. Football is coming around, but we have a ways to go.
In addition to the steady decline in Q1 departmental revenues, this table has some other ominous trends. Operating revenue has always been front end loaded in the fiscal year, and the first quarter used to cover more than half of the annual budget (54% in 2019). Now that ratio is barely a third (36%). Expenses are still zooming ahead unabated however. We're now barely covering expenses (by less than $4 million) in a quarter that we used to be able to bank a lot of money ($33 million in 2019). That decline in performance must change, but it doesn't look like football is gonna be the answer.
I'll post here tomorrow on year-over-year ticket sales which I know everyone is interested in...
I received a one-page summary prepared for attendees at a ULAA quarterly review on October 6, 2023. While it's not as informative as it needs to be, it does provide a snapshot of where things are as a department, if not for individual sports. I'll do the macro view first.
Here's the progression of fiscal year Q1 revenues ending September 30 and dating back as far as I have numbers...
In addition to the steady decline in Q1 departmental revenues, this table has some other ominous trends. Operating revenue has always been front end loaded in the fiscal year, and the first quarter used to cover more than half of the annual budget (54% in 2019). Now that ratio is barely a third (36%). Expenses are still zooming ahead unabated however. We're now barely covering expenses (by less than $4 million) in a quarter that we used to be able to bank a lot of money ($33 million in 2019). That decline in performance must change, but it doesn't look like football is gonna be the answer.
I'll post here tomorrow on year-over-year ticket sales which I know everyone is interested in...
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