Financial management at Georgia Tech

Article Abstract:

The rising costs of sports programs led to Georgia Tech's development of the responsibility center approach (RCA) for efficient budget allocation. The RCA involves a 'cost per sport' analysis wherein the revenues and costs incurred by the athletic department are determined, then assigned to the corresponding sport which acquired them. The RCA differs from traditional budgeting since both direct and indirect costs are allocated. The RCA also requires the participation of coaches as decision-makers and financial managers. Coaches are informed about the revenues and costs allotted to their sports programs in order to make plans based on these figures. The need for additional financing would rely on coaches' abilities for fund raising. The main advantage of RCA is that is ensures a future for college sports programs because it promotes the responsible and informed use of budgets.

Colleges and universities, Universities and colleges, Georgia Institute of Technology

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A guide to successful outsourcing

Article Abstract:

Outsourcing of financial functions offers numerous advantages. It provides access to best business practices, facilitates long-term cost control and initiates a customer-supplier orientation. Moreover, outsourcing offers career opportunities for managers and employees, who are given the chance to transfer to the supplier company or another department within the organization where their skills are needed. However, it has disadvantages that companies should be wary of. It becomes counterproductive if the company becomes overly dependent on the service provider, if the provider does not know the business or the practices of the company or if employee morale suffers. To ensure the success of outsourcing, the human resources staff of both the company and provider should be involved right from the start to avoid human resources problems.

Outsourcing

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Goalposts vs. test tubes: evaluating a sports program

Article Abstract:

Entertainment and economic aspects of sports programs are often pitted against educational missions of universities. Traditional accounting methods do not give institutions adequate financial data with which to determine whether or not a sports program should be eliminated. An accounting model designed to measure and allocate athletics department revenues and expenditures on a cause-and-effect basis at Utah State University (USU) is described. The model requires identification of both direct and indirect revenues and expenditures allocated to each sport, and can be used by universities considering the elimination of financially troubled programs. The model showed that eliminating the USU football program, currently operating at a deficit, would only lead to increased financial pressures for the school.

Management, Student financial aid, Student financial aid administration, Utah State University

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