14 Program, Include revenue of game Input revenues from: No specific Novelty, programs, novelties, food issues Parking and or other concessions, and Game Programs. • Concession parking revenues. Novelties. • Sales Revenue from sales of Food and Concessions. • game Parking. • advertising is to be included in Revenue Advertising should be Category 12 (Royalties, included in Category 15. Licensing, Advertisements and Sponsorships). 15 Royalties, Include all revenue from Input revenues from: No specific issues Licensing, corporate sponsorships, noted. GMU Advertisement licensing, sales of Sponsorships. investigated • and advertisements, Licensing Agreements. appropriate revenue • Sponsorships trademarks and royalties. Advertisement. category for their • An allocation will be Royalties. third-party vendor that • necessary to distinguish In-kind products and manages Patriot • revenues generated by services as part of Center. athletics versus the sponsorship agreement. university if payments are combined. Include the An allocation may be value of in-kind products necessary to distinguish and services provided as revenues generated by part of the sponsorship athletics versus the (e.g., equipment, apparel, university if payments are soft drinks, water and combined. isotonic products). 16 Sports Camp Include amounts received Input amounts received by No specific issues Revenues by the athletics the athletics department noted. department for sports for sports camps and and clinics. clinics. 17 Athletics Include endowment Please report spending Amounts reported as Restricted spending policy policy distributions from revenue are only Endowment distribution and other athletics restricted recognized to the and investment income in endowments and extent of expenses Investments support of the athletics investment income used covered in the Income department. These for athletics operations in applicable year. categories include only the reporting year. This (Similar to amounts restricted investment and category includes only received from related
14 Program, Novelty, Parking and Concession Sales Include revenue of game programs, novelties, food or other concessions, and parking revenues. Revenue from sales of game advertising is to be included in Revenue Category 12 (Royalties, Licensing, Advertisements and Sponsorships). Input revenues from: • Game Programs. • Novelties. • Food and Concessions. • Parking. Advertising should be included in Category 15. No specific issues 15 Royalties, Licensing, Advertisement and Sponsorships Include all revenue from corporate sponsorships, licensing, sales of advertisements, trademarks and royalties. An allocation will be necessary to distinguish revenues generated by athletics versus the university if payments are combined. Include the value of in-kind products and services provided as part of the sponsorship (e.g., equipment, apparel, soft drinks, water and isotonic products). Input revenues from: • Sponsorships. • Licensing Agreements. • Advertisement. • Royalties. • In-kind products and services as part of sponsorship agreement. An allocation may be necessary to distinguish revenues generated by athletics versus the university if payments are combined. No specific issues noted. GMU investigated appropriate revenue category for their third-party vendor that manages Patriot Center. 16 Sports Camp Revenues Include amounts received by the athletics department for sports and clinics. Input amounts received by the athletics department for sports camps and clinics. No specific issues noted. 17 Athletics Restricted Endowment and Investments Income Include endowment spending policy distribution and other investment income in support of the athletics department. These categories include only restricted investment and Please report spending policy distributions from athletics restricted endowments and investment income used for athletics operations in the reporting year. This category includes only Amounts reported as revenue are only recognized to the extent of expenses covered in the applicable year. (Similar to amounts received from related
NCAA%20Financial%20Reporting%20Guidance%202017.docx