Re: Gov't / Title IV (?) data - hc'69 -- CROSSPORTS: Holy Cross Crusaders Sports Message Board

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Date Posted: 10:31:42 06/17/04 Thu
Author: Gate'93
Subject: Re: Gov't / Title IV (?) data - hc'69
In reply to: Rick 's message, "Re: Gov't / Title IV (?) data - hc'69" on 11:30:46 06/16/04 Wed

Rick -

I'm not a CPA, but I do analyze not-for-profit financial statements for a living. The short answer to why there isn't standard reporting is that there isn't standardized accounting in this realm - revenues in particular are a somewhat arbitrary number based on how a school and its CPAs decide to set things up. For instance, several Patriot League schools are reported to have revenues exactly equal to expenses. That is accomplished by a "transfer" of funds from the general account to the sport or athletic department account in order to match whatever was expended. Not for profits, particularly schools & hospitals do alot of moving money from one pocket to another. As for how 'Gate's revenues can be so much higher, there are multiple reasons. For example, Colgate might distribute all non-directed donations across all departments based on the size of the department while HC accounts for all such donations at the college level only. Colgate also, I believe, has a dedicated athletics endowment. The revenue could be largely the result of changes in the value of securities held in this endowment. So no voodoo, just alot of confusing options, none of which are wrong, but all of which produce very different results. As noted somewhere else in this string, that's why the Gov't looks at expenses, not revenues (though those aren't 100% fool-proof either).

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