The Wolverine: Covering University of Michigan Football and Sports
Issue link: https://comanpub.uberflip.com/i/152358
David Brandon Produces A Thumbnail On Michigan's Status Michigan director of athletics David Brandon went before Michigan's Board of Regents in June to detail where the athletics arm of the University presently stands. Here is his Executive Summary, presented to that body. • Financial Position Is Stable And Sustainable • Net assets expected to approximate $386 million at June 30, 2013 • Endowment balances are approximately $64 million at March 31, 2013 • Total debt is approximately $231 million with the completion of the Crisler Center renovation projects. • Significant Investment In Facilities Has Resulted From Increased LongTerm Borrowings, Fundraising, And Efforts To Create Annual Operating Surpluses • Proposed operating surplus of $8.9 million for fiscal year 2014, after $4.75 million transfer to deferred maintenance fund and the one-time benefit of $2.5 million associated with the NHL Winter Classic event. • Michigan Stadium and Crisler Center premium seats are sold out at increased PSD levels. • Current projects in process are Schembechler Hall Renovation, Stadium Marquee, and Softball Center with several more in various stages of planning. • Continued Investment In Facilities Projects Will Depend Upon Fundraising Results And Operating Performance • Facilities planning process continues for Athletics campus with several important future projects planned. • Aggressive fundraising investments and efforts are being made to support capital projects. • Anticipated future operating surpluses, combined with fundraising and the continued use of long-term debt will allow Athletics to address several significant physical plant priorities. them to use. "We've communicated that five times, but no one really knows what it is. We've got to do a better job of letting them know about that. That's an option, or they can resell their tickets on StubHub. They're fully integrated with us as a partner. "We don't want any open seats. There's no reason, if you're a season ticket holder, that your seat should be unused. That's the next chapter, as we fill the arena — how the people who have purchased tickets use their seats if they can't make it." At Yost, Michigan is selling season tickets in the end zones, making less available on an individual game basis.