9/30/2012 Update: The Foundation has stopped putting the time-series data in the reports, presumably since it doesn't look that great. I've added it at the bottom of this post, followed by Jamie Moffitt's 2010 attempt to explain the weird "student athletic scholarship" numbers. Essentially, the UO Foundation was laundering DAF donations, reporting they were being spent on "scholarships" when they really went to pay for things that would more accurately be described as team expenses. The foundation has a policy that donations must be related to UO's core academic mission, but you know how that goes. To her credit, Moffitt seems to have put an end to that practice. after I raised these questions.
I'd ask for a more detailed breakdown on expenditures between athletics and academics, but $338,000 CEO Paul Weinhold doesn't believe professors should ask questions about how the foundation spends the tax-deductible contributions that are supposedly given to support our academic mission. While OSU completes the part of the standard Council for Aid to Education questionnaire that shows athletic spending, Paul Weinhold flat out refuses to release the data:
But he thinks we should support an independent UO board?
$300,00 per year CIO Jay Namyet did manage to beat the market this year, 2% versus 0.5%. Overall he's below benchmarks for the past 3 and 5 years though. I doubt those calculations even include the $1 million or so it costs to run their investment shop, which can't even beat the FTSE index.
I'm no accounting professor, but if anyone wants to dig into these let me know what else you find.
Sent: Friday, July 16, 2010 11:17 AM
I was looking at the amounts the UO Foundation reports disbursing to athletics for scholarships, and comparing that to the amounts that the AD reports spending on scholarships. (From BANNER, via Nathan's online Financial Transparency Tool.) They are quite different, as you can see from the attached spreadsheet.
Can you tell me the reason for the difference?
Thanks, [UO Matters]
On Jul 16, 2010, at 11:30 , Jamie Moffitt wrote:
I am out of the office today, but would be happy to look into your question when I return on Monday. At first glance the BANNER scholarship figures look consistent to me with other figures I have seen. The Foundation figures look higher than I would have expected - I will need to do some research to figure out why this is the case. I will let you know what I learn.
On Jul 19, 2010, at 19:15 , Jamie Moffitt wrote:
I’ve done a bit of research on your scholarship question and I’ve learned that the difference between the Foundation figures and the BANNER figures is due to a difference in accounting classification. The student aid figures that you pulled from BANNER represent tuition remissions, as well as student aid for books and room and board. The Foundation classification for student aid includes a broader range of direct student support including things like medical expenses, insurance, and nutrition support. As the Foundation and the University are two separate institutions, their accounting classification structures are different.
From: "Jamie Moffitt"
Date: July 21, 2010 9:53:26 PM EDT
I was just about to send you a note. Here it is:
There are a broad range of BANNER account codes that are used for different types of student support. For example, meals for athletes are recorded under account code 20300, medical support (GTF trainers) are recorded under account code 24999, life skills support (speakers for student trainings) would show up under account code 24599, nutritional support (student staffing) shows up under account code 10501, etc. These are just a few examples. I believe that most, if not all, of the difference between the foundation and BANNER numbers that you sent me for FY2009 (BANNER: $7,442,824; Foundation: $9,462,000) are the result of the difference between BANNER and Foundation’s accounting classification structures. There can also, however, be timing differences that attribute to differences between the two institution’s figures. The Foundation records expenses when it transfers funds to the University. The University records expenses when the funds are spent. While the majority of the time these two activities occur in the same fiscal year – this is not always the case.