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Post by hooligan on Feb 24, 2015 10:20:21 GMT -5
As I am apt to do when I am bored at work I clicked on the A10 message board and noticed that VCU and UMass were almost half way done with their new practice facilities. It made me wonder if/when Siena was ever going to break ground on the ARC renovation project. I see that the overall monies raised in the campaign were $51.5MM with a goal of $50MM. I also see that the arc renovation plan was only at $4mm with a goal of $6mm.
Are we still moving forward with the plan or are we still tightening our belts due to the financial downgrade? Anyone have any insight?
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$cott
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Post by $cott on Feb 24, 2015 10:39:43 GMT -5
As I am apt to do when I am bored at work I clicked on the A10 message board and noticed that VCU and UMass were almost half way done with their new practice facilities. It made me wonder if/when Siena was ever going to break ground on the ARC renovation project. I see that the overall monies raised in the campaign were $51.5MM with a goal of $50MM. I also see that the arc renovation plan was only at $4mm with a goal of $6mm. Are we still moving forward with the plan or are we still tightening our belts due to the financial downgrade? Anyone have any insight? I have no inside knowledge but my thought was with the paycuts to faculty it would look very bad if they broke ground this year even though that money comes from a completely different source.
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glen
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Post by glen on Feb 24, 2015 12:17:10 GMT -5
I'm a bit confused on the actual status of finances at Siena. On the one hand I hear about paycuts and tightening, but on the other I just read in the Alumni magazine that the endowment is up to $130MM from $100MM not too long ago.
I don't know what to believe anymore.
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Deleted
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Post by Deleted on Feb 24, 2015 12:20:52 GMT -5
I'm a bit confused on the actual status of finances at Siena. On the one hand I hear about paycuts and tightening, but on the other I just read in the Alumni magazine that the endowment is up to $130MM from $100MM not too long ago. I don't know what to believe anymore. Well, teachers aren't smart. If they were smart, they wouldn't be teachers. No need to pay them.
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Post by SaintsFan on Feb 24, 2015 12:25:48 GMT -5
I'm a bit confused on the actual status of finances at Siena. On the one hand I hear about paycuts and tightening, but on the other I just read in the Alumni magazine that the endowment is up to $130MM from $100MM not too long ago. I don't know what to believe anymore. Well, teachers aren't smart. If they were smart, they wouldn't be teachers. No need to pay them. need you any more proof that it is better to be well endowed than it is to be educated?
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Deleted
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Post by Deleted on Feb 24, 2015 12:33:44 GMT -5
Well, teachers aren't smart. If they were smart, they wouldn't be teachers. No need to pay them. need you any more proof that it is better to be well endowed than it is to be educated? Case closed.
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musicman
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Post by musicman on Feb 24, 2015 14:50:49 GMT -5
I'm a bit confused on the actual status of finances at Siena. On the one hand I hear about paycuts and tightening, but on the other I just read in the Alumni magazine that the endowment is up to $130MM from $100MM not too long ago. I don't know what to believe anymore. Well, teachers aren't smart. If they were smart, they wouldn't be teachers. No need to pay them. That's one of the dumber comments I've ever heard you say. I'm hoping that was just some of your unique humor.
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Post by SaintsFan on Feb 24, 2015 15:13:46 GMT -5
Well, teachers aren't smart. If they were smart, they wouldn't be teachers. No need to pay them. That's one of the dumber comments I've ever heard you say. I'm hoping that was just some of your unique humor. without a doubt, one of KKs barbs meant in jest
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Deleted
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Post by Deleted on Feb 24, 2015 15:14:02 GMT -5
Well, teachers aren't smart. If they were smart, they wouldn't be teachers. No need to pay them. That's one of the dumber comments I've ever heard you say. I'm hoping that was just some of your unique humor. Umm yeah...it was a joke. Also, poor people smell bad and children should be kept in cages.
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bigsaintg
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Post by bigsaintg on Feb 24, 2015 16:14:39 GMT -5
The problem is there is a net operating deficit from operations which in the short term can be plugged with endowment earnings but in the long term is not sustainable. It's line plugging the state budget with @one shots". The endowment and fund raising for specific purposes is good and they need to get the operating budget in line which is why faculty and other operating costs get whacked
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olddave
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Post by olddave on Feb 24, 2015 17:21:38 GMT -5
without access to the p&l we all can only guess. Like other institutions money is getting tighter. One of the reason Maryland left ACC for Big 10. comes down to running a business. time to replace the board, the admin and yes D'arg. People become complacent over a long term. If we had the info I would venture to guess the longevity og employees is very high at Siena. they certainly don't endear themselves with faculty by having to buy out a year of MB contract.
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olddave
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Post by olddave on Feb 24, 2015 17:21:53 GMT -5
without access to the p&l we all can only guess. Like other institutions money is getting tighter. One of the reason Maryland left ACC for Big 10. comes down to running a business. time to replace the board, the admin and yes D'arg. People become complacent over a long term. If we had the info I would venture to guess the longevity og employees is very high at Siena. they certainly don't endear themselves with faculty by having to buy out a year of MB contract.
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Post by saintsandeagles on Feb 24, 2015 18:41:52 GMT -5
without access to the p&l we all can only guess. Like other institutions money is getting tighter. One of the reason Maryland left ACC for Big 10. comes down to running a business. time to replace the board, the admin and yes D'arg. People become complacent over a long term. If we had the info I would venture to guess the longevity og employees is very high at Siena. they certainly don't endear themselves with faculty by having to buy out a year of MB contract. Yes, let's fire the whole board of trustees and the entire school's administration because we haven't won the MAAC in 5 years. Ridiculous statement.
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olddave
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Post by olddave on Feb 25, 2015 8:09:47 GMT -5
saintsandeagles Siena like or not has decisions to make regarding the future of the school. New blood is, change is the only option to keep your organization a viable entity. Keep current employees from becoming complement and brings new ideas in. Some say 10% a year changeover is fair. Athletics unfortunately play a major part in the marketing concept Siena wish to employ going forward. Can't have it both ways. Fortunately for the school they the school have recognized their need to update and scrutinize.
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Post by siena7127 on Feb 25, 2015 9:24:39 GMT -5
That's one of the dumber comments I've ever heard you say. I'm hoping that was just some of your unique humor. Umm yeah...it was a joke. Also, poor people smell bad and children should be kept in cages. This actually made me laugh...I have family that works in the athletic department, so I for one hope no one is fired. School is still fully planning to go forward with upgrades, I don't know when they are starting but they are def moving forward.
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