FSU Athletic Department Balances Budget After Receiving $1.6M From ACCPublished June 11, 2012
The Florida State Univ. athletics department on June 1 received a check for nearly $1.6M from the ACC, which will be "used to help the department balance its 2011-12 and 2012-13 budgets without having to tap into cash reserves,” according to Jim Lamar of the TALLAHASSEE DEMOCRAT. FSU AD Randy Spetman told the FSU Board of Trustees, “Our budget is balanced for this year and we’ll be in good shape for next year also.” Bowl allocations and travel reimbursements "usually account for the bulk of the money.” FSU President Eric Barron said, “It was a surprise. At the end of the year, they look and they make up their minds. The amount was a very pleasant surprise.” Spetman said that the ’11-12 finances “were strained with three major projects this past year -- the expansion of the student-athlete academic facilities in the Moore Athletic Center, the addition of a sand volleyball program (and facility) and the field renovations at Howser Stadium.” He said all three projects “came in over budget.” Spetman: “So that’s why I was nervous. That’s why this additional revenue has cleaned this up for us, which is incredible. I had told the president about them. I had the revenues available to fund that, but this keeps me from having to go into the cash reserves for this year" (TALLAHASSEE DEMOCRAT, 6/9).
CONFERENCE STABILITY: In Virginia, David Teel wrote last Friday’s ACC BOT meeting “was an undeniable improvement for the conference.” Teel: “In realignment, nothing is certain. But I expect the ACC to thrive with its ESPN contract, retain all its schools and to have ample access to football’s impending playoff” (DAILYPRESS.com, 6/8). The DEMOCRAT's Lamar noted Barron “was asked about the realignment speculation once again.” Barron said, “This is the way to think about it. We have a happy existence. Like anybody else, we would like more money. We have a lot of opportunities for more money.” He added, “We’re not seeking anything. We’re not expecting anything. There are no conversations going on” (TALLAHASSEE DEMOCRAT, 6/9).
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