Iowa State’s offense is in a state of financial crisis.

The Cyclones (2-3, 0-1 Big 12) are near broke on “the Money Down” — otherwise-known as third down. The team has converted just 10 of 44 (22.7 percent) third downs against its previous three opponents, all of which have been losses.

Iowa State ranks 104th out of 119 Div. I teams in third down conversion percentage (31.4 percent) and 90th in first downs per game (17.2).

“Third down, that’s really our Achilles heel right now,” said coach Gene Chizik. “And we know that. It’s a combination of things; it’s dropped footballs, it’s pressure on the quarterback, it’s bad throws. A lot of our third downs we’re not converting are third-and-three (yards) or more, but I say that, and we’ve had our shares of thirds-and ones and twos that we can’t convert too.”

Chizik said the team spent a lot of time this week practicing third down offense schemes to improve its performance on third down, though he didn’t know “if it could get any worse.”

Iowa State has shown mixed signs of improvement on offense this season, boosting its scoring average from one of the nation’s worst in 2007 to over 32 points per game this season.

That number is somewhat misleading, however, as Iowa State’s offense has been the benefactor of the field position gained by the defense and special teams.

The Cyclones average starting field position is their own 44-yard line. Eleven of ISU’s 24 scoring possessions this season have started in opponent territory.

The offense is tied with Texas A&M for fewest first downs gained (86) in the Big 12. Only three major college teams that average fewer first downs per game average more than 25 points.

ISU developed an identity as a ball control-offense last season, but has struggled on key downs this season.

While Kansas scored 28 unanswered points last Saturday, the Cyclones failed to gain a first down. Over that period of time, the Cyclones failed on four third downs of four yards or fewer.

Offensive coordinator Robert McFarland said the first thing the coaching staff did was review the offensive packages that were being used on third downs, but thought the team’s biggest problem was the inability to run the football.

“Once we get down in the shorter third down distances, we’ve got to find somebody to run the football a lot more effectively, which we have not done. Period,” McFarland said.

“We have not been able to physically run and get us first downs.”

Inconsistency can be chalked up to the relative youth of Iowa State’s passing game, starting with its two sophomore quarterbacks, Austen Arnaud and Phillip Bates.

Arnaud said inexperience is not a reasonable excuse anymore, because “we’re five games in.”

“For whatever reason, we’re not executing, and that’s the down you really need to execute on,” said wide receiver Marquis Hamilton. “’Cause if you can’t execute on third down, there’s no first down.”

Only one of the 15 Div. I teams that rank lower than Iowa State in third down conversion percentage averages more than 23 points per game. Arnaud said the team calls third down “the Money Down” because “that’s what the guys in the NFL get paid for.”

“And we’ve got to just take it like that,” said Arnaud, who completed 27 of 45 passes last Saturday — including six of 13 on third down. “Third down is the Money Down, and we can’t let it slip away.”

Iowa State had converted just two of 11 third down opportunities against Kansas before its final touchdown drive, which started with 3:32 left in the game.

Two of true freshman wide receiver Darius Darks’ six receptions against Kansas converted third downs, including a diving, 26-yard catch that set up a field goal. Darks finished with a career-high 89 yards, and said when third down arrives, “it’s personal.”

“Third down, no matter what the distance is, we have to have it,” he said.

“Third down is a chance to move the sticks; anytime you move the sticks you have a good chance of putting points on the board.”