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by Bendl,Kurt last modified Jan 21, 2010 04:50 AM


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

In Open Session

Members of the Finance & Budget Committee of the University of Louisville Athletic Association, Inc. met at 12 Noon on Monday, June 5, 2006, in the Jefferson Room of Grawemeyer Hall, with members present and absent as follows:

Present:            Mr. Robert Benson, Chairman
                        Dr. Blaine Hudson
                        Mr. Burt Deutsch
                        Mr. D. Harry Jones
                        Prof. Bruce Kemelgor
                        Mr. Larry Owsley
                        Prof. Bob Stenger
                        Prof. Jerry Tolson
                        Mr. Greg Virgin
                        Prof. Elaine O. Wise

Absent: Mr. Grant Helman
                        Mr. Wade Houston
                        Mr. Sam Rechter

Other Directors
Present:            Prof. Beth Boehm
                        Ms. Bev Daly
                        Dr. Henry Enck
                        Mr. Owsley Frazier
                        Mr. Gordon Gahm
                        Prof. Brenda Hart
                        Mr. Tom Jurich, ex officio
                        Prof. Glenda Neely
                        Dr. James Ramsey
                        Prof. George Raque
                        Ms. Annette Schnatter
                        Mr. Mike Seebert
                        Prof. Richard Stremel
                        Dr. Shirley Willihnganz

From the
University:        Ms. Angela D. Koshewa
                        Mr. Bill Stone, Trustee
                        Mr. Mike Curtin
                        Mr. Kevin Miller
                        Mr. Gary Friedman
                        Mr. Kenny Klein
                        Ms. Kathleen Smith
                        Ms. Debbie Dougherty

I.          Call to Order

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

II.         Approval of Minutes

Prof. Wise made a motion, which Mr. Virgin seconded, to approve the minutes of October 7, 2005.  The motion passed unanimously.

III.       Action Item:  Approval of Purchase of Lockers

Mr. Miller explained in March 2006, the Head Football Coach made a request to renovate the football locker room.  The approximate cost for the proposed renovation was $175,000.  As this was not part of the current year operating budget, the Athletic Director requested the football program provide the funds to cover the expense.  An immediate fund raising effort began and cash and pledges were secured by mid-April.

Mr. Miller noted ULAA policy requires board approval of capital expenditures in excess of $100,000.  In order for lockers to be installed by August 1, the purchasing process (bidding) had to begin in late April.  Mr. Miller said Athletics confirmed cash and pledges to the President’s Office and requested approval to move ahead with Purchasing because of the timeline.  Because the ULAA Board meeting for April was canceled, the President discussed the action with the Chair of the Finance Committee and approval was given to bid the lockers subject to final approval by the board.  Mr. Virgin made a motion, which Prof. Kemelgor seconded, to approve the

Athletic Director’s recommendation that the Board of Directors approve the funding of locker room renovations for football.  The cost of new lockers and carpet is approximately $175,000. 

The motion passed unanimously.

IV.       Action Item:  Approval of Men’s Basketball Season Ticket Prices for 2006

 

Mr. Miller reported planning for the 2006-07 Budget considered several revenue alternatives. Men’s Basketball will host the following for 2006-07:  a) Two Exhibition Games (Bellarmine University and Kentucky Wesleyan); b) One game with Minardi Classic; c) Eight Big East Conference Games; d) Three games in a NCAA Certified Exempt Event to be hosted by Louisville. These games are included in the season package but revenue is designated for the “NABC Classic,” a Certified NCAA Event.  Louisville will receive a “guarantee” for participating; and e) Seven non-conference games.  Mr. Miller noted the 2006-07 ULAA Annual Budget was developed with the above rates projected in the Proposed Revenue Budget.  Prof. Kemelgor made a motion, which Dr. Hudson seconded, to approve the

Athletic Director’s recommendation that the  Board of Directors approve for men’s basketball the following season ticket package:

                                                2005-06                       2006-07
Exhibition Games                   $50 (2 @ $25)             $52 (2 @ $26)
Regular Games                      $350 (14 @ $25)         $416 (16 @ $26)
Minardi Classic                      $60 (2 @ $30)             $30 (1 @ $30)
NCAA Exempt Event            $90 (3 @ $30)             $96 (3 @ $32)
       Total                                $550                            $594

The motion passed unanimously.

V.        Action Item:  Approval of Purchase of Bus/Transportation

Mr. Miller reported the Athletic Department utilizes two buses to transport teams locally. Inventory includes:  (a) 1977 MCI, 47-passenger, and (b) 1988 Ford, 28-passenger.  The buses are used for airport transfers, local transportation between facilities and transportation for track and rowing to practice in surrounding counties. Both buses need to be replaced.

The proposal includes two 2006 Chevrolet/Starcraft, 32-passenger vehicles with storage.  Buses will be used in the same manner as presented plus possible team use within 150 mile radius of Louisville.  Cost for two new buses is approximately $150,000.

Mr. Miller further noted in addition to above, Athletics is discussing possible lease/purchase agreement for a 47-passenger bus ($100,000) to be used as described earlier.  With increased needs for travel and practice in this area, Athletics prefers to keep teams (with squad sizes in excess of 8-10) traveling together via bus as opposed to multi-van transportation.  Prof.Wise made a motion, which Mr. Jones seconded, to approve the

Athletic Director’s recommendation that the Board of Directors approve the funding of two new buses and possible lease/purchase of a third bus.  The cost for these items is approximately $250,000.

            The motion passed unanimously.

VI.       Information Item:  2005-06 Budget Analysis

Mr. Miller reviewed the 2005-06 budget analysis.  A copy of the budget analysis is attached. 

VII.      Action Item: Approval of 2006-07 Operating Budget

Chairman Benson noted the Finance & Budget Committee thoroughly reviewed the 2006-07 Operating Budget at its recent workshop.  Mr. Miller shared highlights of the projected budget.  Mr. Deutsch made a motion, which Prof. Kemelgor seconded, to approve the

Athletic Director’s recommendation that the Board of Directors approve the 2006-07 Operating Budget for the University of Louisville Athletic Association, Inc., in the form attached. 

            The motion passed unanimously.

VIII.     Other Business

There was no other business.

IX.       Adjournment

Mr. Virgin made a motion, which Prof. Kemelgor seconded, to adjourn the meeting at 12:20 p.m.  The motion passed unanimously.


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