RELATED TO
MANAGEMENT COUNCIL
SUPPLEMENT NO. 21

DIVISION III BUDGET COMMITTEE

Summary of Recommendations

PRESIDENTS COUNCIL ACTION ITEMS

1. ISSUE:		2002-03 Budget-to-Actual. [Attachment A]
Committee Recommendation:
	Review the 2002-03 fiscal year financial results of $13,473,009 in revenue and $12,440,329 in expenses. These figures represent the actual revenue allocated and expenses incurred through the 2002-03 fiscal year.
Management Council Recommendation:
	Approve the final 2002-03 budget.
Presidents Council Action:
2. ISSUE:		2002-2004 Biennial Budget. [Attachment B]
Committee Recommendation:
	Review the previously approved 2003-04 budget. The budget allocations for 2003-04 include $14,455,040 in revenues, $10,902,864 in championships expenses and $4,578,280 in nonchampionships program expenses. In 2002-03, $23,000 was spent on the Future of Division III. This resulted in a decrease in the Future of Division III contingency in 2003-04 to $177,000. The championship contingency remains at $500,000 because it remained unused in 2002-03.
Management Council Recomendation:
	Review the 2003-04 budget.
Presidents Council Action:

3. ISSUE:		6-Year Budget Projection. [Attachment C]
Committee Recommendation:
	Review the six-year projected budget information (2002-2008). The figures listed for 2002-03 are based on actual expenses. The specific budget amounts beyond 2003-04 have not yet been approved.
Management Council Recommendation:
	1. Review the six-year budget projections, noting that no final budget decisions have been made beyond 2003-04; however, the projections include the following championships initiatives: 2004-05 $205,000 predetermined sites and other general initiatives. $235,000 per diem from $60 to $65. 2005-06 $1,500,000 team sport AQ enhancement (legislatively adopted). $235,000 per diem from $65 to $70. $28,000 approved general initiatives. 2006-07 $500,000 individual/team sport AQ ? tennis. 2007-08 $1,000,000 individual/team sport AQ ? cross country and golf. 2. Request a review of the current reserve policy, and consider whether increased revenue justifies a mandated percentage less than 15 percent or the establishment of a set dollar amount.
Presidents Council Action:

ITEM OF INFORMATION

ISSUE:		2004-06 Biennial Budget Process. [Attachment D]
Committee Action:
	The committee will meet via teleconference following the October Management Council meeting to review the 2004-05 biennial budget process.
Management Council Action:
	Accepted the information, noting that Division III committee tentative budget recommendations will be forwarded to the Budget Committee for review prior to formal approval at its April meeting.