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University of Arizona and the curious case of the missing quarter billion dollars


Evil Bill Obrien

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1 minute ago, PilotsError said:

Didn't the dipshit at one of the Washington schools just do the same thing????

Wazzu had a Athletics budget deficit, but it was a rounding error ($11.5 million) compared to what Arizona has gotten itself into

https://news.wsu.edu/news/2023/06/02/wsu-athletics-addresses-11-5-million-budget-deficit/

 

 

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The article isn't terribly clear, I guess by omission rather than commission...was this just at Athletics at UA, at UA campuswide, at Arizona Regents systemwide (they have just the one system with board and head for the 3 big campuses and then I think a med school and some CEU satellite deals).  Or was this all the way up to their state comptroller?  Or probably some combo of all of the above that we'll never know about because you know...small, efficient governance.  That's a pretty big fucking rounding error though even for a school of that size.  Even for UTIMCO, that'd be a massive red flag and UA system is what...maybe a tenth of that size/endownment/expenditure?  Then again, I was assured by one of the smartest Americans that there's 1.4bn people in North Korea, so what the fuck do we know.  I feel like everything these days is like Rizzo in Jerky Boys, "That's right...you do the estimating.  I do all that shit, ya know?!?"  

No CR, but I bet dollars to donuts I know who is involved in this.  And no, this time...it's not Frank Stallone.

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35 minutes ago, Nicole44 said:

The 50 year storm has hit Bell’s Beach, Australia and I will be there, man. 

Death on a stick out there mate.

All kidding aside, Rosie, he's like a machine. He's got this gift of blankness. Once you set him in motion, he will not stop. I use him to handle all of my significant accounting errors.

 

 

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I don't know if they work off a 365 day pro-forma, but if they do...156 days?  That's a nearly 20% miss.  That's a big fucking deal in the public sector.  Particularly when a public university's YoY model is pretty fucking stable outside of off-revenue capital projects like new arena, Taylor Swift as Provost hiring bonus, etc.---that kinda one-off shit.

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1 minute ago, YGIFS said:

I don't know if they work off a 365 day pro-forma, but if they do...156 days?  That's a nearly 20% miss.  That's a big fucking deal in the public sector.  Particularly when a public university's YoY model is pretty fucking stable outside of off-revenue capital projects like new arena, Taylor Swift as Provost hiring bonus, etc.---that kinda one-off shit.

Yea I don’t get how you miss that badly. But the cause seems pretty clear, they have been giving any student with half a brain a free education. Sucks to suck. 
“If you look at the band from 3.75 GPA to 4.0, there are a lot of students here that pay nothing,” he said. “We lose money on every one.”

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3 hours ago, Irieguy said:

Yea I don’t get how you miss that badly. But the cause seems pretty clear, they have been giving any student with half a brain a free education. Sucks to suck. 
“If you look at the band from 3.75 GPA to 4.0, there are a lot of students here that pay nothing,” he said. “We lose money on every one.”

Having done my graduate work at that University I can confirm both the ridiculously distracting level of talent on campus and also the staggering level of stupidity on that campus.

Students from Arizona are far outnumbered by rejects of the Cal and Texas programs. I couldn't tell you how many unreadable, incoherent essays I came across while grading for 3rd and 4th year classes. And these were students in communication science and linguistics courses.

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11 minutes ago, ousux said:
4 hours ago, Evil Bill Obrien said:
 
How fired does the UA CFO have to be for messing up finances by a quarter billion?
 

Sounds like the perfect candidate to take the reins of the Pentagon accounting office, or any government agency tbh.

No way.  Under qualified.

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