Penn State Weighs Borrowing $30-Million for Athletics
Penn State trustees may be asked to approve $30-million in borrowing to help its Athletic Department cover costs resulting partly from the Jerry Sandusky child sexual abuse scandal.
PennLive.com reported Thursday that the request would be part of a $750-million borrowing package that trustees will consider Friday.
The Athletic Department posted a $15-million profit as recently as 2011. But university Controller Joe Doncsecz says its expenses outstripped revenues by $6-million this year.
Needs covered by the borrowing include up to $25-million in short-term capital needs, a $10-million line of credit and millions more to cover debt service on the $60-million fine the NCAA imposed for the Sandusky scandal.
Athletic Director Dave Joyner says the department should be in the black by 2018.
Monday March 10th
Dr. Gabe Mirkin
Dr. Gabe Mirkin on Fitness & Health Facebook page
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Tuesday March 11th
Wednesday March 12th
Master Gardener Tom Ford
Leather Lounge Chair
love seat-type, made for 2,
has two seperate sections,
white, 2 years old, from a non-pet,
non-smoking home - $200
Sara, Altoona 381-8008
Nintendo Wii U
new in box, latest edition - $275
Wednesday March 5th
Central Blair Recreation and Park Commission
Fundraising Talent Bank
Deadline for applications March 10th
Alto Model Train Museum Association Scalefest
Sunday March 9th 9am to 2pm