REPORT OF THE

NCAA DIVISION III BUDGET COMMITTEE

 

 

1.         ACTION ITEMS.

 

a.         2003-04 Budget-to-Actual.  [Attachment A]

 

(1)               Recommendation.  Review the 2003-04 fiscal year financial results of $14,390,000 in revenue and $11,882,521 in expenses.

 

(2)               Rationale.  These figures represent the actual revenue allocated and expenses incurred through the fourth quarter of the 2003-04 fiscal year.  Please note that these amounts are not final.  Revenues have increased approximately $900,000 from last year.  This is due to the incremental increases from the CBS contract.  Expenses were approximately $3.6 million under budget this year.  The national office finance staff plans to close the 2003-04 fiscal year at the beginning of October.

 

(3)               Budget Impact.  Not applicable.

 

            b.         2004-05 Budget-to-Actual.  [Attachment B]

 

(1)               Recommendation.  Review the 2004-05 fiscal year budget of $15,445,000 in revenues and $15,895,700 in expenses.

 

(2)               Rationale.  The budget allocations for 2004-05 include $11,637,480 in championship expenses and $4,258,220 in non-championship initiative expenses.  The only budget increase for this fiscal year was $201,000 allocated to championships for various championship enhancements.  The championship per diem amount will increase by $5 this fiscal year and will be covered by the annual inflationary increase. 

 

(3)               Budget Impact.  Not applicable.

 

            c.         8-Year Budget Projection.  [Attachment C]

                       

(1)               Recommendation.  Review the eight-year projected budget information (2002-2010).

 

(2)               Rationale.  The figures listed for 2002-03 are based on actual expenses incurred and are included to complete the most recent two-year budget cycle.  The figures for 2003-04 will be updated to the actual amounts when the fiscal year is closed.  The specific budget amounts beyond 2005-06 have not yet been approved. 

 

(3)               Budget Impact:  Not applicable.

 

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2.         INFORMATIONAL ITEMS.

 

Future Meeting.  The committee will meet via teleconference following the October Management Council meeting to review the 2004-05 and 2005-06 budgets and the Division III Catastrophic/Loss of Revenue Recovery Plan. 

 

 

 

Committee Chair:  Ivory Nelson, Lincoln University (Pennsylvania)

Staff Liaison:  Beth Altstadt Barnett, Finance