U.S. Air Force Academy saves taxpayers million through cooperative agreement award

Published Sept. 20, 2013
Academy Public Affairs

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.