A Jay-Z, Beyonce Concert Caused $200K In Damages To A Major CFB Field

first_imgGeneral view of Williams-Brice Stadium.COLUMBIA, SC – NOVEMBER 02: A general view of the kickoff between the Mississippi State Bulldogs and South Carolina Gamecocks during their game at Williams-Brice Stadium on November 2, 2013 in Columbia, South Carolina. (Photo by Streeter Lecka/Getty Images)South Carolina will begin its 2018 season with three home games in a row. The Gamecocks will play all three on new turf, as the school is currently replacing the old surface after a Jay-Z and Beyonce concert.The show was held last Tuesday. Today, the school will install more than 90,000 square feet of Bermuda grass trucked in from Georgia, according to ESPN.The cost of the project is said to be between $150,000 and $200,000, and has been covered by the concert promoters. The field is slated to be ready for the season opener this weekend.According to ESPN, it sounds like this was a scenario that South Carolina was prepared for.South Carolina had planned for the possibility of such a changeout when Williams-Brice Stadium was picked as a stop for Jay-Z and Beyonce’s tour about 18 months ago, athletic director Ray Tanner said.Concert crews needed about a week to set up the massive stage used for Tuesday night’s show. Coach Will Muschamp and his players were among the 40,000 or so who attended.A hard cover was put over the field to protect it from wear and tear caused by construction of the stage and concertgoers. But when the cover was removed, it was clear the grass had died and needed to be replaced, Cox said.The Gamecocks open up the 2018 season at home against Coastal Carolina on Saturday.They will also play Georgia at home on Sept. 8 and Marshall at home on Sept. 15.last_img read more

Budget Bulletin Debt Retirement

first_img establishing a debt retirement contingency in fiscal year 2004-05 that will be required to reach $106 million by fiscal year 2007-08; creating a fund for debt retirement using a portion of the interest earned on investments; and enacting legislation that commits extraordinary revenues to the province, as well as money from the sale of provincially owned assets, to the debt retirement fund. The province of Nova Scotia continues to make progress inmanaging its long-term debt. Three successive balanced budgets,steady reduction in net debt to GDP ratio, and continuedreduction in foreign currency exposure have contributed tofinancial recovery and prosperity for the province. The government announced a debt retirement plan in June 2003. Bylowering the debt, annual interest charges will be reduced,making the province more attractive in financial markets. The plan’s three components are: The debt retirement plan focuses on net direct debt (NDD) as thetarget measure of the province’s debt. Despite balanced budgets,annual spending on tangible capital assets (TCA) such as roads,schools, and other public infrastructure, has been adding to thedebt. To address this challenge, a $250 million annual capitalspending TCA allocation was established. This will controlprovincial spending while prudent investment in capitalinfrastructure will support steady economic growth. Net direct debt to gross domestic product (GDP) compares what theprovince owes with what it produces, thereby measuring theability of the province to manage its debt. NDD:GDP RATIO2002-03 45.0 per cent2003-04 44.1 per cent2004-05 (estimated) 43.1 per cent Reducing the amount of debt that is in foreign currencies reducesthe province’s vulnerability to sudden changes in foreigncurrency markets. By law, Nova Scotia’s foreign debt had to belowered to under 20 per cent. FOREIGN CURRENCY EXPOSURE1994-95 72.2 per cent2001-02 28.9 per cent2002-03 18.1 per cent2003-04 16.9 per cent The benefits of the above actions can be seen in debt servicingcosts. In fiscal year 2003-04, debt servicing costs were down by$25.3 million compared to the budget estimate. This, despite theinclusion of $30.5 million in interest on post-employmentbenefits in 2003-04 debt servicing costs. Without that change inaccounting policy, debt servicing costs would have been down$55.8 million. In part, decline in debt servicing costs was dueto the improvement in the Canadian dollar and the continuation oflow short-term interest rates. Debt servicing costs in 2004-05 are up slightly compared to the2003-04 forecast. However, the increase is due to interest onpension and other obligations totalling about $10 million. -30-last_img read more