This article describes the result of a recent report from the National Collegiate Athletic Association (NCAA) which has raised the hackles of some college officials who charge that the data are incomplete and that the NCAA has clouded the real fiscal value of sports programs. The study revealed the growing financial support colleges provide to their athletics departments, using detailed accounting to separate institutional funds from money earned primarily through ticket sales and private donations. The report concluded that just 5 percent of Division I institutions earn a profit on sports. The report is the culmination of a signature effort by Myles Brand, the NCAA's president, to illustrate that spending on college sports is growing at an unsustainable rate, with institutions engaged in a costly "arms race" to lure elite athletes with high-profile coaches and state-of-the-art facilities. Mr. Brand's effort to detail the income and expenses of sports programs has sparked an increasingly heated debate about what information the NCAA collects and how the association categorizes and reports it. While the association has stressed openness, athletic directors say the report ignores revenue from parking, concessions, and merchandise sales that should be credited to athletics departments.