U.S. Air Force Academy saves taxpayers million through cooperative agreement award
U.S. AIR FORCE ACADEMY, Colo. --
The U.S. Air Force Academy recently awarded an $8.5 million cooperative agreement with the potential to span five years to the non-profit Air Force Academy Athletic Corporation.
Authorized by Congress in 2010, this agreement uses a non-profit entity to save tax-payer money by offsetting the rapidly increasing cost of intercollegiate athletic activities.
Nearly $8.5 million Fiscal Year 2013 operations and maintenance funds have been obligated for the first of five potential funding periods.
A cooperative agreement provides federal government assistance to support a public purpose, in this case athletic support and improvement to the Academy.
Under non-profit and U.S. Code regulations, the AFAAC will have access to additional revenue streams ultimately projected to drive down taxpayer expense through a cost-sharing arrangement.
The estimated taxpayer savings is $13 million during the first five years.
The agreement is expected to be complete by June 30, 2018.
For more Academy Athletic Department info, visit www.goairforcefalcons.com.
Authorized by Congress in 2010, this agreement uses a non-profit entity to save tax-payer money by offsetting the rapidly increasing cost of intercollegiate athletic activities.
Nearly $8.5 million Fiscal Year 2013 operations and maintenance funds have been obligated for the first of five potential funding periods.
A cooperative agreement provides federal government assistance to support a public purpose, in this case athletic support and improvement to the Academy.
Under non-profit and U.S. Code regulations, the AFAAC will have access to additional revenue streams ultimately projected to drive down taxpayer expense through a cost-sharing arrangement.
The estimated taxpayer savings is $13 million during the first five years.
The agreement is expected to be complete by June 30, 2018.
For more Academy Athletic Department info, visit www.goairforcefalcons.com.
