The National Collegiate Athletic Association                    
           
                                                                                Division III 6-Year Projection                
       
    Approved Approved Actual Approved Actual Budget Preliminary 1997-98 1997-98 1998-99   1999-2000 1999-2000 2001-2002 2001-2002    
    Budget Budget Revenues/Exp. Budget Revenues/Exp. (Note 2) Budget Actual Difference Approved 1998-99 Approved Additional Preliminary New    
    (Note 1) Budget Actual Budget CBS Bonus Pmt. Budget Initiaitives 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 2006-2007 2007-2008    
       
  NCAA Operating Revenue ####### ####### ####### ####### ####### ####### ####### ####### ####### #######      
       
  Revenue:    
    Division III 3.18% Revenue Allocation ####### ####### ####### ####### ####### ####### ####### ####### ####### #######          13,454,421         14,459,078         15,528,862         16,663,772          17,921,144         19,250,162    
       
  Expenses:    
  Total Championships Expense #REF! #REF! #REF!   #REF!   #REF!   #REF!   #REF!   #REF!   #REF!     #REF! #REF! #REF! #REF! ####### ####### #######          10,577,685         11,106,569         11,661,898         12,244,993          12,857,242         13,500,104    
  Total Program Expenses                 #REF! #REF! #REF!            3,581,230           3,756,230           3,756,230           3,756,230            3,756,230           3,756,230    
  Total Division III Expenses #REF! #REF! #REF!   #REF!   #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! ####### ####### #######          14,158,915         14,862,799         15,418,128         16,001,223          16,613,472         17,256,334    
    Net Change in Fund Balance #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #######             (704,494)             (403,721)              110,734              662,549            1,307,672           1,993,828    
       
                                                                                                 
    #REF! #REF! #REF! #REF! #REF! #REF! #REF!       
  Beginning Fund Balance (Projected Reserve and Unallocated Funds)                               #REF! ####### #######           -   #######   #######  $        3,362,474  $       2,657,980  $       2,254,259  $       2,364,993  $        3,027,542  $       4,335,214    
  Less:    
    Net Change in Fund Balance ####### ####### (704,494) (403,721) 110,734 662,549 1,307,672 1,993,828    
  Ending Fund Balance (Projected Reserve and Unallocated Funds) #######  $        2,657,980  $       2,254,259  $       2,364,993  $       3,027,542  $        4,335,214  $       6,329,042    
                                                                                           
       
  Ending Fund Balance as a Percentage Revenue Allocation 66% 20% 16% 15% 18% 24% 33%    
       
  Mandated Reserve Balance (35% of Revenue Allocation) #######  $        4,709,047  $       5,060,677  $       5,435,102  $       5,832,320  $        6,272,400  $       6,737,557    
       
  Funds Available for 2-year Budget Cycle ($670,461) ($1,045,991) $3,229,995    
                                                                                                   
                                                                                                      
                                                                               
         
       
  Note 1: The Division III Management Council and Presidents Council approved that effective for the  2002-04 budget cycle, the    
    balance in the Division III reserve shall not fall below 20% of the revenue allocation in any two-year budget cycle.     
                                                                                                     
The National Collegiate Athletic Association    
December 17, 2001                            JWC