I'm not so sure our financial result is as good as it seems. $2 mil from fund raising for the redevelopment and more than $2 mil in interest earned, presumably the majority of which is on the Fed and or state grant money we've already received for the redevelopment. Half our income comes from transactional income related to Aligned Leisure which is just in and out. Unless Aligned Leisure is absorbing overheads that benefits the football department, its margins seem incredibly low.
I am not sure what you mean by "transactional income related to Align Leisure which is just in and out"
The expense line for "Health, Fitness and Community" includes the cost associated with the BHF, KGI Institute, Richmond Institute and other community programs not just Aligned Leisure. So if the income generated from Aligned Leisure is covering those costs and still showing a profit then the numbers are strong.
I received a copy of the full financial report yesterday and having read through it last night I believe it is a very, good solid result.
I would concerned if we weren't making money on any of the funding received for the redevelopment.
*** and welcome to OER Tone
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