CLEMSON UNIVERSITY

INTERCOLLEGIATE ATHLETIC PROGRAM

Statement of Revenues, Expenses and Transfers

For The Year Ended June 30, 2007

Unaudited - See Accompanying Independent Accountant's Report on Applying Agreed-Upon Procedures

IPTAY

Other

NonProgram

LEARNING

Football

Basketball

Sports

Specific

IPTAY

CENTER

Total

REVENUES:

Ticket Sales

$ 19,098,948

$   1,336,188

$      474,129

$                    -

$                 -

$                 -

$    20,909,265

Student Ticket Fees

1,378,787

114,748

                     -

                       -

                    -

                    -

         1,493,535

Away Game Sales & Guarantees

         934,947

         359,013

             5,000

                       -

                    -

                    -

         1,298,960

Contributions

      1,760,476

         541,440

      2,394,480

         1,070,390

     2,705,079

     1,349,773

         9,821,638

Third-Party Support

         904,900

         264,000

           37,500

                       -

                    -

                    -

         1,206,400

Direct Institutional Support

         566,534

         210,600

      1,485,081

                       -

                    -

                    -

         2,262,215

NCAA/Conference Distributions

  including all Tournament Revenues

      5,128,270

      4,821,284

                     -

            412,861

                    -

                    -

       10,362,415

Broadcast, Television, Radio and

   Internet Rights

                     -

                    -

                     -

            790,000

                    -

                    -

            790,000

Program Sales, Concessions,

   Novelty Sales and Parking

      1,389,125

         112,772

         103,159

         1,250,117

                    -

                    -

         2,855,173

Royalties, Advertisements and

   Sponsorships

         130,000

                    -

                     -

         2,063,167

                    -

                    -

         2,193,167

Endowment and Investment Income

                     -

                    -

                     -

         1,084,372

                    -

                    -

         1,084,372

Other

         328,655

           45,811

           31,677

            232,040

                    -

                    -

            638,183

Subtotal Operating Revenue

    31,620,642

      7,805,856

      4,531,026

         6,902,947

     2,705,079

     1,349,773

  54,915,323

OPERATING EXPENDITURES AND

   MANDATORY TRANSFERS:

Athletic Student Aid

      2,248,844

         686,057

      3,786,383

            831,679

            3,166

          18,202

         7,574,331

Guarantees

      2,150,000

         547,127

         131,051

                       -

                    -

                    -

         2,828,178

Coaching Salaries, Benefits and

   Bonuses Paid by the Institution

   and Related Entities

      2,593,412

      1,977,029

      2,823,146

                       -

                    -

                    -

      7,393,587

Coaching Other Compensation and

   Benefits Paid by a Third Party

         904,900

         264,000

           37,500

                       -

      1,206,400

Support Staff/Administrative

   Salaries, Benefits and Bonuses

   Paid by the Institution and Related

   Entities

         576,011

         221,905

           93,839

         5,921,071

     1,005,272

     1,163,494

    8,981,592

Recruiting

         315,610

         210,724

         233,682

                       -

                    -

                    -

            760,016

Team Travel

      1,210,506

         723,938

         905,834

            162,799

          52,666

          18,454

         3,074,197

Equipment, Uniforms and Supplies

         466,939

           61,093

         331,896

            118,210

            4,365

            1,903

            984,406

Game Expenses

      1,753,007

         333,792

         280,654

                       -

                    -

                    -

         2,367,453

Fund Raising, Marketing and

   Promotion

                     -

                    -

                     -

            235,622

     1,329,238

                    -

         1,564,860

Direct Facilities, Maintenance and

   Rental

           90,570

           10,622

           18,507

         2,091,020

                    -

            7,972

         2,218,691

Indirect Facilities and Administrative

   Support

                     -

                    -

                     -

            678,120

                    -

                    -

            678,120

Other Operating Expenses

      1,123,309

         625,229

         460,126

         5,128,173

                    -

        139,748

         7,476,585

Total Operating Expenditures

    13,433,108

      5,661,516

      9,102,618

       15,166,694

     2,394,707

     1,349,773

       47,108,416

EXPENDITURES AND

   MANDATORY TRANSFERS

       (CONTINUED):

Mandatory Transfers:

Principal and interest

                     -

                    -

                     -

         1,412,650

                    -

                    -

         1,412,650

Total Expenditures and Mandatory Transfers

    13,433,108

      5,661,516

      9,102,618

       16,579,344

     2,394,707

     1,349,773

       48,521,066

Excess (Deficit) Revenues and Expenses and Mandatory Transfers

  6,394,257

NONMANDATORY

    TRANSFERS (IN)/OUT:

Student Services

                     -

                    -

                     -

11,000

                    -

                    -

              11,000

Construction projects

                     -

                    -

                     -

766,036

        310,372

                    -

         1,076,408

Student Band Support

       (408,596)

                    -

                     -

          (520,876)

                    -

                    -

          (929,472)

Departmental Support

                     -

                    -

                     -

         4,457,350

                    -

                    -

         4,457,350

Total

       (408,596)

                    -

                     -

         4,713,510

        310,372

                    -

         4,615,286

Excess (deficiency) of

   revenues over expenses

   and transfers

$ 18,596,130

$   2,144,340

$ (4,571,592)

$  (14,389,907)

$                 -

$                 -

$      1,778,971

FISCAL YEAR BEGINNING OPERATING FUND BALANCE

8,528,520

FISCAL YEAR ENDING OPERATING FUND BALANCE

10,307,491