REVISED

FUTURE OF NCAA DIVISION III: REFORM AGENDA I

FINANCIAL AID

Summary of Recommendations

PRESIDENTS COUNCIL ACTION ITEMS

1. ISSUE:		Annual Financial Aid Reporting Process.
Oversight Group Legislative Recommendation:
	Annual report. Establish an annual electronic reporting process, consistent with concept developed by the existing task force. Effective date. August 1, 2004 (pilot reports for all schools in fall of 2004, “live” reports beginning in fall of 2005). Sponsors. Joint PC/MC Subcommittee on the Future of Division III (Financial Aid Subgroup); Division III Financial Aid Audit Task Force; Division III Financial Aid and Awards Committee.
Management Council Recommendation:
	Sponsor legislation for the 2004 Convention. The Council noted: l If the 2004 pilot necessitates, the August 1, 2005, effective date can be delayed at the 2005 Convention. l Provisional member institutions would be required to participate in the reporting process beginning in year three. l The reporting process is critical to ensure membership compliance with Bylaw 15 regulations. l The principle of no athletics aid is a fundamental tenet of the Division III philosophy. l Continued communication (both electronic and hard copy) with the financial aid community (NASFAA) is critical. l The Division III Financial Aid and Awards Committee supports the proposal. l This legislation is responsive to the membership survey (64 percent support).

Presidents Council Action:
2. ISSUE:		Exempted Athletics Endowments.
Oversight Group Legislative Recommendation:
	Athletics Funds or Endowments. Amend NCAA Bylaw 15.01.5 to eliminate exemption for athletics funds or endowments established prior to January 1, 1979. Effective Date. August 1, 2005. Sponsors. Joint PC/MC Subcommittee on the Future of Division III (Financial Aid Subgroup); Division III Financial Aid and Awards Committee.
Management Council Recommendation:
	Sponsor legislation for the 2004 Convention with a delayed effective date of August 1, 2008. The Council noted: l The delayed effective date provides reasonable notice for all institutions to address issues related to endowed funds and does not negatively impact any student-athletes currently receiving the benefits of such funds. l Elimination of such funds is consistent with the Division III philosophy intent to “award no athletically related financial aid to any student.” l The Division III Financial Aid and Awards Committee supports the proposal.
Presidents Council Action: