On April 10, 2014, Professor of Accounting, Dr. Howard Bunsis (Eastern Michigan University) presented an in-depth financial analysis of Rutgers University budget and financial data. Among much other data, this analysis shows that RU has $600 million in unrestricted reserves (see this page from the full report).
The main take-away is that Rutgers University does not have a budget crisis, but they do have a distribution crisis. Dr. Bunsis also demonstrated the lack of transparency, comparing the RU with other Big Ten universities. The report also indicates that RU is subsidizing the athletics program. Ticket sales account for 15% of the revenue used for athletics, while 15% comes from student fees and 29% from general funds (this is shown on page 89 of the full report).