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Virginia Olympic Sports Board


Joined: 9/4/08 Posts: 93072
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And that endowment has laws, Federal regulations and thousands of

stipulations upon it.

The bulk of the endowment is stipulated to certain things with protections of it being moved elsewhere.

If endowment is just spent frivolously on departments that are not fiscally responsible the University will suffer.

Time for every division to get their house in order and stop spending every dollar they get.

Athletics has an endowment which should be used first, then every employee over 500,000 should have to take a massive pay cut. Then and only then should the Academic Division think about a loan to athletics, but the loan should have stipulations

1) no new coaches with guaranteed deals past 3 years
2) no new coaching raises that aren’t already in salaries
3) Carla and Coaches above 500,000 agree to continue to take massive paycuts until loan is paid
4) doing utmost to retain all employees below $50,000 salary mark
5) commit to no new building projects unless 100% funded and announce Master Plan is done
6) work with athletics to figure how to entice more donations from revenue athletes and engagement instead of the non-revs driving the bus in donations and leadership.
7) commit to no program cuts for 5 years
8) athletics agrees to devise a plan to yearly save 8-10% in a fund that will match the entire AD budget by 2032 and will be solely used for emergency as deemed by the BOV

[Post edited by Mg234 at 09/18/2020 01:47AM]

(In response to this post by UltimateHooFan)

Posted: 09/18/2020 at 01:39AM


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