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Minutes of the Regular Meeting of the Finance & Budget Committee of the
University of Louisville Athletic Association, Inc.

June 5, 2007

In Open Session

Members of the Finance & Budget Committee of the University of Louisville Athletic Association, Inc. met on June 5, 2007, in the Jefferson Room of Grawemeyer Hall, with members present and absent as follows:

 

Present:            Mr. Robert Benson, Chairman
Mr. Zach Brooks
Prof. Tom Byers
Dr. Blaine Hudson
Mr. Wade Houston
Mr. Harry Jones
Mr. Larry Owsley
Mr. Sam Rechter
Prof. Bob Stenger
Prof. Gerald Tolson
                        Prof. Elaine O. Wise

Absent: Mr. Burt Deutsch
                        Mr. Grant Helman
                        Prof. Bruce Kemelgor

Board Members
Present:            Dr. James Ramsey  
Mr. Owsley B. Frazier
Mr. Brent Fryrear                                                          
Mr. Gordon Gahm                                           
Prof. Brenda Hart                                                          
Mr. Tom Jurich, ex officio
Prof. Melissa Laning    
Prof. George Raque
Mr. Mike Seebert   

Also Attending:Mr. Bill Stone, Trustee

From the
University:        Ms. Angela D. Koshewa         
Mr. Mike Curtin
Mr. Kevin Miller
Mr. Jeff Walz
Mr. Gary Friedman    
Mr. Kenny Klein
Mr. Kyle Moats
Mr. Pete Cautilli                     
Ms. Susan Ingram
Ms. Terri Rutledge
Ms. Anne Rademaker
Ms. Kathleen Smith                 
Ms. Debbie Dougherty

I.          Convene meeting

Having determined a quorum present, Chair Benson called the meeting to order at 12 Noon.

Approval of Minutes:  October 5, 2006

Prof. Stenger made a motion, which Mr. Jones seconded, to approve the minutes of October 5, 2006.  The motion passed unanimously.

  1. Action Item:  Approval of Men’s Basketball Season Ticket Prices for 2007

Mr. Miller explained that planning for the 2007-08 Budget considered several revenue alternatives. Men’s Basketball will host the following for 2007-08:

  1. Two Exhibition Games (Carelton University and Georgetown College).
  2. One game with Minardi Classic.
  3. Nine Big East Conference Games.
  4. Four games in a NCAA Certified Exempt Event.  Two of those games will be hosted by Louisville. These games are included in season package but revenue is designated for the “Las Vegas Classic,” a Certified NCAA Event.  Louisville will receive a “guarantee” for participating.
  5. Five non-conference games.

 

Mr. Miller stated the 2007-08 ULAA Annual Budget was developed with the above rates projected in the Proposed Revenue Budget.  Mr. Jones made a motion, which Mr. Rechter seconded, to approve the

 

Athletic Director’s recommendation that the Board of Directors approve for Men’s Basketball the following season ticket package:
                                                2006-07                                   2007-08

Exhibition Games                   $52 (2 @ $26)                         $56 (2 @ $28)

Regular Games                       $416 (16 @ $26)                     $392 (14 @ $28)

Minardi Classic                      $30 (1 @ $30)                         $32 (1 @ $32)

NCAA Exempt Event             $96 (3 @ $32)                         $60 (2 @ $30)

            Total                            $594                                        $540

 

 

The motion passed unanimously.

III.       Information Item:  2007-08 Budget Analysis

Mr. Miller reviewed the 2007-08 budget analysis.  A copy of the budget analysis is attached. 

IV.       Action Item:  Approval of 2007-08 Operating Budget

Chairman Benson noted the Finance & Budget Committee thoroughly reviewed the 2007-08 Operating Budget at its recent workshop.  Mr. Miller shared highlights of the projected budget.  Mr. Houston made a motion, which Prof. Mr. Brooks seconded, to approve the

Athletic Director’s recommendation that the Board of Directors approve the 2007-08 Operating Budget for the University of Louisville Athletic Association, Inc., in the form attached. 

            The motion passed unanimously.

IV.       Adjournment

Mr. Brooks made a motion, which Prof. Byers seconded, to adjourn the meeting at 12:15 p.m.  The motion passed unanimously.

 

 


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