Any word on MSU finances?

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Post by Turtleneck on 2020-04-22, 14:09

Saw this in regards to UM. Was wondering what MSU is facing.


University of Michigan imposes hiring, salary freezes to face anticipated losses of $400M to $1B

ANN ARBOR, MI — The University of Michigan announced Monday that it will freeze hiring and employees’ base salaries will not increase through the end of the 2020-21 budget year as the university works to preserve financial resources during the coronavirus pandemic.

In an email to faculty and staff, UM President Mark Schlissel said all three campuses — including Michigan Medicine — estimate anticipated losses of $400 million to $1 billion through the end of the 2020 calendar year.


https://www.mlive.com/news/ann-arbor/2020/04/university-of-michigan-imposes-hiring-salary-freezes-to-face-anticipated-losses-of-400m-to-1b.html


Last edited by Turtleneck on 2020-05-17, 09:31; edited 2 times in total
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Post by tGreenWay on 2020-04-22, 14:26

It was mighty nice of their AD to take a 5% pay cut. Rolling Eyes
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Post by Floyd Robertson on 2020-04-22, 14:28

I saw yesterday Boise St furloughed everyone in their athletic department making over $40k a year.
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Post by Turtleneck on 2020-04-22, 14:42

Floyd Robertson wrote:I saw yesterday Boise St furloughed everyone in their athletic department making over $40k a year.

Not sure about its impact on athletics, but Wisconsin, Arizona, Kentucky, Oregon, and Louisville are all furloughing or laying off staff. I do wonder how self-sustaining athletic departments will handle the revenue loss if there is no football season. It seems like it would create a pretty big budget shortfall, at least in the short term.


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Post by tGreenWay on 2020-04-22, 14:42

Floyd Robertson wrote:I saw yesterday Boise St furloughed everyone in their athletic department making over $40k a year.



For context, Warde Manuel’s 5% pay cut amounts to about $50k.
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Post by CORNER BLITZ on 2020-04-22, 14:57

Turtleneck wrote:
Floyd Robertson wrote:I saw yesterday Boise St furloughed everyone in their athletic department making over $40k a year.

Not sure about its impact on athletics, but Wisconsin, Arizona, Kentucky, Oregon, and Louisville are all furloughing or laying off staff. I do wonder how self-sustaining athletic departments will handle the revenue loss if there is no football season. It seems like it would create a pretty big budget shortfall, at least in the short term.

https://www.google.com/amp/s/amp.dailycaller.com/2020/04/02/lsu-financial-football-athletics-revenue-coronavirus

[tw]1245087809440026624[/tw]
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Post by Nordic on 2020-04-22, 14:57

Floyd Robertson wrote:I saw yesterday Boise St furloughed everyone in their athletic department making over $40k a year.

Interesting. I assume there must be some sort of verbiage in their contracts.

https://www.espn.com/college-sports/story/_/id/29078562/boise-state-coaches-athletics-staff-take-furloughs

The university said 12-month employees earning more than $40,000 per year are required to take furloughs between May 3 and July 31. The highest-paid employees making more than $150,000 annually will have to take 10-day furloughs.

Broncos football coach Bryan Harsin, who earns $1.65 million in base salary, will forfeit about $63,000. Most of his assistant coaches are also subject to the 10-day requirement, along with men's basketball coach Leon Rice and women's basketball coach Gordy Presnell.
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Post by DWags on 2020-04-22, 15:06

To answer Turtle's question, and this is only assumption, I'd say every University is going to experience the same thing as UofM. MSU won't be immune from that. How much, who knows. I said in another thread, I'm not too anxious for my daughter to step on campus until Winter Semester 2021. I'm sure I'd lose the argument here, and she'll do what is necessary when she goes, but if I'm thinking "take a semester off", how many others are?
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Post by Nordic on 2020-04-22, 15:11

DWags wrote:To answer Turtle's question, and this is only assumption, I'd say every University is going to experience the same thing as UofM.   MSU won't be immune from that.  How much, who knows.  I said in another thread, I'm not too anxious for my daughter to step on campus until Winter Semester 2021.  I'm sure I'd lose the argument here, and she'll do what is necessary when she goes, but if I'm thinking "take a semester off", how many others are?  

Same Dwags. Oldest is going to be a freshman. I highly doubt she steps foot on campus this fall. What an odd year to be a HS senior/incoming freshman.
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Post by Turtleneck on 2020-04-22, 15:15

Nordic wrote:
DWags wrote:To answer Turtle's question, and this is only assumption, I'd say every University is going to experience the same thing as UofM.   MSU won't be immune from that.  How much, who knows.  I said in another thread, I'm not too anxious for my daughter to step on campus until Winter Semester 2021.  I'm sure I'd lose the argument here, and she'll do what is necessary when she goes, but if I'm thinking "take a semester off", how many others are?  

Same Dwags. Oldest is going to be a freshman. I highly doubt she steps foot on campus this fall. What an odd year to be a HS senior/incoming freshman.

Or graduating from college this spring and hitting the job market.
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Post by Nordic on 2020-04-22, 15:16

Turtleneck wrote:
Nordic wrote:

Same Dwags. Oldest is going to be a freshman. I highly doubt she steps foot on campus this fall. What an odd year to be a HS senior/incoming freshman.

Or graduating from college this spring and hitting the job market.

Good point. That would suck.
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Post by DWags on 2020-04-22, 15:40

Nordic wrote:
DWags wrote:To answer Turtle's question, and this is only assumption, I'd say every University is going to experience the same thing as UofM.   MSU won't be immune from that.  How much, who knows.  I said in another thread, I'm not too anxious for my daughter to step on campus until Winter Semester 2021.  I'm sure I'd lose the argument here, and she'll do what is necessary when she goes, but if I'm thinking "take a semester off", how many others are?  

Same Dwags. Oldest is going to be a freshman. I highly doubt she steps foot on campus this fall. What an odd year to be a HS senior/incoming freshman.

Wow, didn't realize that she was a senior. Wow, feel horrible for her. Yeah, that is something she will be able to talk to her grandkids about. What a time. Sorry she's got to deal with this. How excited were all of us for h.s. graduation then move-in to MSU? Sucks Nordy. Best to the young lady.
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Post by Nordic on 2020-04-22, 15:51

She's not phased. Mom on the other hand....
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Post by steveschneider on 2020-04-22, 16:03

Almost every thread I read I get Any word on MSU finances? 1896033241 Any word on MSU finances? 1896033241 Any word on MSU finances? 1896033241 Any word on MSU finances? 1896033241 Any word on MSU finances? 1896033241
thinking about how if we just ha easy access to testing we could get our selves out of this fucking mess. Antibody tests and quick easy self tests with quick results.
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Post by tGreenWay on 2020-04-23, 02:50

I worry this will push back financing construction of the giant Spartan statue by a year or more.
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Post by The Pantry on 2020-04-23, 06:04

Floyd Robertson wrote:I saw yesterday Boise St furloughed everyone in their athletic department making over $40k a year.
Sadly, doesn't include the asshats responsible for that nauseating blue field
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Post by Robert J Sakimano on 2020-04-23, 08:09

steveschneider wrote:Almost every thread I read I get Any word on MSU finances? 1896033241 Any word on MSU finances? 1896033241 Any word on MSU finances? 1896033241 Any word on MSU finances? 1896033241 Any word on MSU finances? 1896033241
thinking about how if we just ha easy access to testing we could get our selves out of this fucking mess. Antibody tests and quick easy self tests with quick results.
yep.

and what's worse is that all decent Americans knew this day was coming.

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Post by Turtleneck on 2020-04-25, 00:05

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Post by MiamiSpartan on 2020-04-25, 00:28


I suspect some schools will use the coronavirus hit as an excuse to cut athletics. I googled about Akron and found that their athletic department, like most schools has been bleeding money. It only generates 25% of what it spends. They pay 5 million a year servicing debt on the stadium. Of the 23 million that the university has to subsidize from elsewhere, the president talked last summer about cutting 8 million (I don't know if he was able to and is cutting more now, or if he's using this to push through part of what he couldn't 9 months ago).
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Post by tGreenWay on 2020-04-25, 02:33

MiamiSpartan wrote:

I suspect some schools will use the coronavirus hit as an excuse to cut athletics. I googled about Akron and found that their athletic department, like most schools has been bleeding money. It only generates 25% of what it spends. They pay 5 million a year servicing debt on the stadium. Of the 23 million that the university has to subsidize from elsewhere, the president talked last summer about cutting 8 million (I don't know if he was able to and is cutting more now, or if he's using this to push through part of what he couldn't 9 months ago).


They’re going to end up with zip.
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Post by MiamiSpartan on 2020-04-25, 08:32

tGreenWay wrote:
MiamiSpartan wrote:

I suspect some schools will use the coronavirus hit as an excuse to cut athletics. I googled about Akron and found that their athletic department, like most schools has been bleeding money. It only generates 25% of what it spends. They pay 5 million a year servicing debt on the stadium. Of the 23 million that the university has to subsidize from elsewhere, the president talked last summer about cutting 8 million (I don't know if he was able to and is cutting more now, or if he's using this to push through part of what he couldn't 9 months ago).


They’re going to end up with zip.

Any word on MSU finances? 502811600
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Post by DWags on 2020-04-25, 08:38

MiamiSpartan wrote:
tGreenWay wrote:


They’re going to end up with zip.

Any word on MSU finances? 502811600

I wonder if the university of Pennsylvania is shaken up about this?
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Post by Turtleneck on 2020-04-25, 09:29

tGreenWay wrote:
MiamiSpartan wrote:

I suspect some schools will use the coronavirus hit as an excuse to cut athletics.  I googled about Akron and found that their athletic department, like most schools has been bleeding money.  It only generates 25% of what it spends.  They pay 5 million a year servicing debt on the stadium.  Of the 23 million that the university has to subsidize from elsewhere, the president talked last summer about cutting 8 million (I don't know if he was able to and is cutting more now, or if he's using this to push through part of what he couldn't 9 months ago).  


They’re going to end up with zip.

Any word on MSU finances? 502811600 +1

DWags wrote:
MiamiSpartan wrote:

Any word on MSU finances? 502811600

I wonder if the university of Pennsylvania is shaken up about this?


I know some Witchita State fans who will be shocked if that school cuts spending on athletics.
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Post by Turtleneck on 2020-04-25, 09:41

MiamiSpartan wrote:

I suspect some schools will use the coronavirus hit as an excuse to cut athletics. I googled about Akron and found that their athletic department, like most schools has been bleeding money. It only generates 25% of what it spends. They pay 5 million a year servicing debt on the stadium. Of the 23 million that the university has to subsidize from elsewhere, the president talked last summer about cutting 8 million (I don't know if he was able to and is cutting more now, or if he's using this to push through part of what he couldn't 9 months ago).

Those schools should be cutting spending. As you pointed out, Akron's spending far exceeds revenue. This is the case for most, if not all, of the Group of Five schools. They have to cover costs with student fees and the general budget, which drives up the overall operating costs of the school. I just don't see that as fair to students or taxpyers.

There are several Power Five schools in the same position, but I suspect they get bailed out by conference revenue sharing. This is certainly the case for Rutgers. It will be interesting to see how that plays out if there is no season, or it is shortened or delayed.
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Post by tGreenWay on 2020-04-25, 20:23

DWags wrote:
MiamiSpartan wrote:

Any word on MSU finances? 502811600

I wonder if the university of Pennsylvania is shaken up about this?


They’re quaking.
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Post by Heat Miser on 2020-04-25, 20:27

tGreenWay wrote:
DWags wrote:
MiamiSpartan wrote:

Any word on MSU finances? 502811600

I wonder if the university of Pennsylvania is shaken up about this?


They’re quaking.

That can always churn more.
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Post by tGreenWay on 2020-04-25, 20:28

Heat Miser wrote:
tGreenWay wrote:


They’re quaking.

That can always churn more.


I trust they’ll work it oat.
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Post by Turtleneck on 2020-05-03, 08:27

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Post by Turtleneck on 2020-05-04, 21:23

U Akron eliminating 5 of its 11 colleges, and significant reductions coming for athletics.

https://www.cleveland.com/education/2020/05/university-of-akron-to-eliminate-six-of-11-colleges-as-part-of-cost-saving-measures-due-to-coronavirus-pandemic.html

Pay cuts to top coaches and AD at CMU

http://www.cm-life.com/article/2020/05/central-michigan-cmu-chippewas-jim-mcelwain-michael-alford-keno-davis-heather-oesterle-pay-cuts-covid-19

If students do not return to the classroom this fall, I think school closures or consolidation will be on the table for small and mid size public institutions.
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Post by DWags on 2020-05-04, 21:34

How do you send your child to a dorm room in September? This is going to get bad.
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Post by NigelUno on 2020-05-04, 21:47

DWags wrote:How do you send your child to a dorm room in September? This is going to get bad.

Hopefully by then an accurate antibody test is working...and maybe proof that once you've had it, you can't get it again.

If not...a lot of kids will be taking classes online (and from home).
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Post by Floyd Robertson on 2020-05-11, 12:40

[tw]1259884841568481282[/tw]
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Post by Turtleneck on 2020-05-11, 12:47

I don't think rowing is going to cut it. That boat is going to need a motor.
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Post by tGreenWay on 2020-05-11, 19:23

NigelUno wrote:
DWags wrote:How do you send your child to a dorm room in September? This is going to get bad.

Hopefully by then an accurate antibody test is working...and maybe proof that once you've had it, you can't get it again.

If not...a lot of kids will be taking classes online (and from home).



You really think they’ll have proof by late summer that once you have it you can’t get it again? I don’t.
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Post by Turtleneck on 2020-05-11, 19:28

I miss grilled cheese night at the dorm cafeteria.
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Post by Turtleneck on 2020-05-12, 21:22

MAC cuts eight post season tournaments, slims size of basketball tournaments, and dumps divisions for basketball. All to cut costs.

https://www.cbssports.com/college-basketball/news/mid-american-conference-cancels-postseason-tournaments-for-eight-sports-changes-basketball-format/
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Post by tGreenWay on 2020-05-13, 00:03

Turtleneck wrote:I miss grilled cheese night at the dorm cafeteria.


It was cancelled in a cost-cutting move.
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Post by Turtleneck on 2020-05-13, 08:31

EAST LANSING, Mich, (WOOD) — Michigan State University announced budget cuts for the remainder of the 2020 fiscal year, which ends June 30, and the 2021 fiscal year, which runs from July 1 to June 30, 2021, due impacts of the coronavirus pandemic.

President Samuel Stanley says MSU has already lost between $50 million and $60 million for the 2020 fiscal year. The university anticipates a loss of $150 million to $300 million for the 2021 fiscal year and a shortfall of 11%.

Stanley announced executives at the university will be taking a temporary pay cut between 2% and 7% depending on salary. He says he will also be taking a 10% pay cut effective immediately.

Academic and administrative units will also take a minimum 3% budget cut.

https://www.woodtv.com/news/michigan/msu-announces-budget-cuts-for-2020-2021-fiscal-years/

No mention of grilled cheese, GreenWay.
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Post by Heat Miser on 2020-05-13, 09:42

Turtleneck wrote:
EAST LANSING, Mich, (WOOD) — Michigan State University announced budget cuts for the remainder of the 2020 fiscal year, which ends June 30, and the 2021 fiscal year, which runs from July 1 to June 30, 2021, due impacts of the coronavirus pandemic.

President Samuel Stanley says MSU has already lost between $50 million and $60 million for the 2020 fiscal year. The university anticipates a loss of $150 million to $300 million for the 2021 fiscal year and a shortfall of 11%.

Stanley announced executives at the university will be taking a temporary pay cut between 2% and 7% depending on salary. He says he will also be taking a 10% pay cut effective immediately.

Academic and administrative units will also take a minimum 3% budget cut.

https://www.woodtv.com/news/michigan/msu-announces-budget-cuts-for-2020-2021-fiscal-years/

No mention of grilled cheese, GreenWay.

Seems a bit light. Mrs. Miser's law firm cut everyone over $50k by 15%.
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Post by Floyd Robertson on 2020-05-14, 11:44

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