REPORT OF THE
1.
ACTION ITEMS.
a. 2001-02 Fiscal Year Financial Results. (Attachment A)
(1) Recommendation. Review the preliminary 2001-02 fiscal year financial results of $10,659,000 in revenue and $11,192,465 in expenses.
(2) Rationale. It was noted that championships and Division III Initiatives were both under budget, a significant change from prior year results. Championships travel expenses were reduced due to the implementation of two new travel policies, including hub airport travel and increasing mileage from 400 to 500 for flights.
(3) Budget Impact. Not applicable.
b. 2002-03 Division III Proposed Budget. (Attachment B)
(1) Recommendation. Approve the 2002-03 reallocation recommendations of $101,750 plus $5000 overhead from the Initiatives Task Force, the establishment of championships contingency fund of $529,000 (5 percent of the championships budget) and the establishment of Future of Division III contingency fund of $200,000.
(2) Rationale. The Initiatives Task Force recommended reallocating $101,750 including $50,000 from planning and development to women and minority internship grants, $18,000 to senior women administrator enhancement grants, and $33,750 to independent institution meetings. Overhead increased by $5000 due to the $50,000 reallocation to women and minority enhancement grants. The championship contingency fund should only be used if championship expenses exceed the budgeted amount and will be carried over to the next fiscal year if unused. This contingency fund establishes a clear budget for championships and therefore protecting other aspects of the Division III budget. The purpose of the Future of Division III contingency fund is to increase presidential involvement from the membership.
(3) Budget Impact. $835,750 in expenses.
c. 2003-04 Division III Proposed Budget. (Attachment B)
(1) Recommendation. Approve the 2003-04 reallocation recommendations of $670,000 plus $45,000 in overhead from the Initiatives Task Force, the championships contingency fund at 5 percent of the championships budget and Future of Division III contingency fund of $200,000.
(2) Rationale. The Initiatives Task Force recommended the reallocation of $670,000 including: reinstating $150,000 to women and minority internship program; reinstating $300,000 for initiative grant funds; reinstating $200,000 to the conference technology grant and adding $20,000 to the SAAC conference grant. Overhead increases by $45,000 due to these reallocations. If unused in 2002-03, the 5 percent championship contingency fund will carry over at $555,450. The Future of Division III contingency fund will also carry over at $200,000.
(3) Budget Impact. $1,470,450 in expenses.
c. Division III Reserve.
(1) Recommendation. Reaffirm the commitment to a 15 percent reserve through the 2002-06 budget cycles.
(2) Rationale. During 2002-06, funds from the reserve will be needed to continue programs/championships already in place. However, if results are such that the reserve is greater than 15 percent, those funds should be used to increase the reserves.
(3) Budget Impact. Not applicable.
2. INFORMATIONAL ITEM.
Future Meeting. The committee discussed the possibility of an in-person meeting during the NCAA Convention.
Committee Chair: John McCardell Jr., Middlebury College
Staff Liaison: Beth Altstadt, F&IS