The big news out of Tech’s quarterly budget meeting was the large donation made by a yet-to-be named family to help pay to improve the seating at Alexander Memorial Coliseum.
The donation is designed to pay for 1/3 of the cost, which is expected to be at least $30 million. The donation won’t exceed $15 million. The name of the donor will be made public later this year, after the Board of Regents meets.
It was no surprise that Tech’s budget for the 2010 fiscal year is slightly smaller than the budget for 2009. Their endowment took a straight jab to the chin, and ticket sales didn’t quite meet what was budgeted, which was described as aggressive. Who would have predicted when that budget was put together in 2008 that the economy was going to go into the tank and that numerous colleges around the country would be in the red this year?
During the board meeting the 2010 budget was described as being a bit more conservative than the previous year’s, despite the decision to hire Aspire and it’s staff of 20 to take over season ticket sales for football and basketball.
So, those were some of the highlights from the meeting.
It’ll be interesting to see what will come of the seating plan for AMC. Radakovich did say they have no plans to try and turn it into yet another concert venue. It seems it will continue to be mostly for men’s and women’s basketball, graduations, and student meetings. The project is still at least two years away from starting, possibly three.
Lastly, the board members expressed a lot of pride in all of the firsts accomplished by many of Tech’s sports teams during the year. I hope to get a copy of the document and post it here for yall to peruse.