Wednesday, August 5, 2009
Athletic budget cut update #42
Athletic programs in Iowa are facing budget cuts. Iowa is facing a more than $500,000 cut to its $65 million budget and will absorb the reductions through reduced travel costs and general operating expenses. They are also facing increased debt service on renovations to Carver Hawkeye Arena. These reductions have been minimized due to $700,000 in increased revenue from the NCAA and Big Ten.
Northern Iowa is facing a nearly $300,000 reduction to its budget (2.4% on $11.5 million) and Iowa State is facing a 3.4% budget cut.
The schools of the Ivy League have been making changes as a result of the athletic environment. Bloomberg News details reductions that include a construction freeze at Cornell and the elimination of junior varsity teams and travel reductions at Harvard. Dartmouth has also cut $500,000 from its $16 million operating budget by eliminating two positions, reducing building hours and has halted renovations to its football stadium.
The Ivy League office has moved to electronic media guides and replaced its annual football media day with a teleconference.
Sports Illustrated has an article that reviews many of the budget cuts which have occurred across the country and were covered earlier on http://www.ultimatesportsinsider.com/.
Odds and ends from previous posts
The NCAA has proposed rules to help clarify the on-going debate about the merits of Sand Volleyball, which was reviewed on the blog in two previous articles.
The Three Beer Meeting has received further support with a call in The Financial Times for email to be banished in board meetings, suggesting that shareholder interests are not served by distracted trustees.
The article provided a great analogy: "When a corporate director starts replying to an e-mail, which task is receiving attention: the message or the meeting? The most plausible answer is the message, which means that the director who is working on his e-mail is dedicating scarce resources to something other than that for which shareholders are paying. If your lawyer billed you for time spent working on someone else’s project, it would be considered negligent at best."
In addition, the NY Times reported that texting while driving makes it 23 times more likely the distracted driver will cause an accident.