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
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
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.
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:
- Two Exhibition Games (Carelton University and Georgetown College).
- One game with Minardi Classic.
- Nine Big East Conference Games.
- 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.
- 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:
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.
Mr. Brooks made a motion, which Prof. Byers seconded, to adjourn the meeting at 12:15 p.m. The motion passed unanimously.