SUPPLEMENT NO. 13
DIII Mgmt Council 07/06
REPORT OF THE
NCAA DIVISION III BUDGET COMMITTEE
INFORMATIONAL ITEMS.
1. 2005-06 Budget-to-Actual. [Attachment A]
The third quarter results include $16,600,000 in revenue and $11,275,252 in expenses. The team automatic qualification enhancements estimated at $1.5 million are in effect for this fiscal year. There is an additional $5 per diem increase covered through the annual championship inflationary allocations. Total expenses are down approximately 15 percent from the third quarter of 2004-05. The majority of outstanding expenses for the remainder of this fiscal year are spring championship expenses as well as championship committee summer meeting expenses. Based on the budget for 2005-06, the reserve balance is estimated to be $9.5 million.
2. Six-year Projections. [Attachment B]
This schedule includes the actual results and budget projections from 2004 through 2010. With the inclusion of approved budget initiatives for 2006-07 and 2007-08, the projected reserve balance in 2010 is $3 million. In 2008-2010, there are no new initiatives included in the budget figures, so any approved future initiatives will further reduce the reserve balance. The projections reflect the new reserve policy starting in 2006-07 which mandates a minimum reserve balance of 10 percent of the Division III revenue allocation.
Committee Chair: John Fry,
Staff Liaison: Beth Barnett, Finance