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Why does the TAF need parking fees & more when they currently have $265 million?
Posted on 7/26/11 at 12:47 pm
Posted on 7/26/11 at 12:47 pm
linkerationosity
Seriously, they've got some serious cash on hand that just sitting around (even after all expenses are taken care of). I've always found them shady.
Full disclosure: current season ticket holder and TAF member since 2001 or so.
Seriously, they've got some serious cash on hand that just sitting around (even after all expenses are taken care of). I've always found them shady.
Full disclosure: current season ticket holder and TAF member since 2001 or so.
13
Posted on 7/26/11 at 12:48 pm to ComicTiger
Why spend their money when they can continue to get your money to spend?
Posted on 7/26/11 at 12:51 pm to ComicTiger
quote:
Why does the TAF need parking fees & more when they currently have $265 million?
Because the south stadium upper deck will cost $500 million.
But seriously, if you actually read the article, it states that TAF has $265 million is assets. Not cash! Over $137 million of that is in property and equipment. How exactly do you expect them to use "property and equipment" to pay for anything? They actually need money to maintain that property and equipment.
For disclosure: Season ticket holder (since 2002) and have never given a cent to TAF (my mandatory donation goes to the Athletic Dept. directly)
This post was edited on 7/26/11 at 12:57 pm
Posted on 7/26/11 at 12:52 pm to ComicTiger
disregard politness; acquire currency
Posted on 7/26/11 at 12:54 pm to Chicot
quote:
Because the south stadium upper deck will cost $500 million.
Even if that is true:
-they will finance that project, so they don't need the entire sum on hand at once.
-once completed, as in other projects, they would have rights to some suites and seats which they would then make rent/fees off of.
Posted on 7/26/11 at 12:56 pm to ComicTiger
quote:
Seriously, they've got some serious cash on hand that just sitting around (even after all expenses are taken care of). I've always found them shady.
You never took an accounting class did you?
Posted on 7/26/11 at 12:57 pm to ComicTiger
quote:
Even if that is true:
-they will finance that project, so they don't need the entire sum on hand at once.
-once completed, as in other projects, they would have rights to some suites and seats which they would then make rent/fees off of.
Please turn on your sarcasm meter, and see my editted post.
Posted on 7/26/11 at 12:57 pm to ComicTiger
quote:
Why does the TAF need parking fees & more when they currently have $265 million?
Is this a serious question?
Apple has billions in reserve, should they just hand out laptops?
Coke has a ton of money, should they just let the taps flow freely?
Posted on 7/26/11 at 12:58 pm to ComicTiger
quote:
they will finance that project
Ok, so parking fees are helping to fund the interest for a month.
Posted on 7/26/11 at 12:59 pm to LSUAfro
Is TAF the one instituting the parking fees this year, or is it the University/Athletic Department doing it? I know the perception is that they are one in the same, but it does make a difference.
Posted on 7/26/11 at 1:00 pm to Chicot
How exactly do you expect them to use "property and equipment" to pay for anything.
Could bring back the barter system.
Could bring back the barter system.
Posted on 7/26/11 at 1:00 pm to ComicTiger
quote:
they've got some serious cash on hand
Total Assets =/= Cash.
They have 2.8 million cash on hand at the date that balance sheet was pulled. That's not an over abundance of cash for an organization that spends the amount of money they do.
Posted on 7/26/11 at 1:03 pm to ComicTiger
quote:
they will finance that project,
By the way, when TAF financing a project, it doesn't necessarily mean that they go and take out a loan. Rather they finance it for the Athletic Dept. -- meaning, they loan the money to the Athletic Dept. which pays it back with interest (either monetarily or with product such as seating rights):
From your own source:
quote:
Lest you think the booster club only operates for football, $4.2 million of the “Other noncurrent assets” above is from financing costs associated with the construction of Alex Box baseball stadium. In return for financing the stadium, the Foundation will receive rights to certain seating in the stadium’s suites.
Wow, the number of Rantards that were absent the day they taught reading comprehension is mind boggling.
Posted on 7/26/11 at 1:04 pm to OldManRiver
quote:
Is TAF the one instituting the parking fees this year, or is it the University/Athletic Department doing it? I know the perception is that they are one in the same, but it does make a difference.
It is the University.
Posted on 7/26/11 at 1:05 pm to Chicot
Over/Under on how many years till tailgaters will have to purchase rights on a season basis to a specific plot to tailgate?
Posted on 7/26/11 at 1:07 pm to OldManRiver
quote:
Is TAF the one instituting the parking fees this year, or is it the University/Athletic Department doing it? I know the perception is that they are one in the same, but it does make a difference.
You think TAF has the authority to levy fees onto individuals wishing to come onto campus?Posted on 7/26/11 at 1:08 pm to ComicTiger
Sounds like a spending problem....not a revenue problem....wait a minute ...is this the poli board...or the rant?
Posted on 7/26/11 at 1:09 pm to MichiganTiger
Apple doesn't have billions in reserve because they spend it all marketing and paying off reporters to tell you they have billions in reserve. Most dishonest company i've ever seen.
Posted on 7/26/11 at 1:09 pm to RealityTiger
quote:
Over/Under on how many years till tailgaters will have to purchase rights on a season basis to a specific plot to tailgate?
Good morning sunshine!
Let's see when did LSU first start having permit lots?
Posted on 7/26/11 at 1:10 pm to MichiganTiger
They dont have 265 million... You sir are not very smart.
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