UI Releases 2012 NCAA Financial Report
Jan. 17, 2013
University of Iowa 2012 Annual Statement of Revenues
Each January, the NCAA requires its member institutions to provide an annual statement of revenues and expenses for its athletics department covering the previous academic year. This is done in a method and scope directed by the NCAA.
The UI's report is available here: 2012 UI NCAA Financial Report
The method prescribed by the NCAA includes capital projects as well as operating revenues and expenses. It also often results in capital expenses being shown in a separate year from the related gift or earnings revenues used to pay for these capital projects. Thus, in fiscal year 2012 (academic year 2011-12) the University of Iowa Athletics Department balance is a negative $6.8 million while in the prior two years it was a positive $5.2 million and $14.2 million, respectively.
The negative balance on the 2012 report - like the positive balances on the '10 and '11 reports - are a function of (a) when private donations were received for capital projects and (b) when expenses for the capital projects were paid. In FY12 substantial capital expenses were paid from revenues recorded in prior years.
The most prominent capital projects impacting these years are the recent renovation of Carver-Hawkeye Arena as well as renovation and new construction for the Iowa football program.
"Success in any endeavor comes back to having great people and giving them the tools to be successful. Our commitment to student-athlete scholarships and offering our student-athletes the very best facilities in which to train and compete are at the heart of what we're trying to do," said Gary Barta, the UI's director of athletics.
Some additional notes on the University of Iowa's statement of revenue and expenses for the year ended June 30, 2012 for the UI Athletics Department:
"Our fans can be proud of the fact that the UI is one of a handful of institutions that has an athletics program that is self-sustaining. We don't use State General Fund dollars, University funds, or student fees to operate our athletics programs. We are so fortunate and grateful for the tens of thousands of Hawk fans who make contributions, buy tickets, and support our teams in so many ways," added Barta.