Assignment 3 - Athletics Budget Case Study Recently, the athletics program at Hampton Roads State University (HRSU), a hypothetical NCAA Division I-AA school in the mid-major Eastern Atlantic Athletic Conference (EAAC), completed its annual budget review. The current fiscal year is about to begin in just a few months. Word is rapidly spreading across campus that the state legislature, facing a budget crisis in this election year, has pulled back a considerable portion of the money originally allocated to all state universities for the upcoming fiscal year. As a result, the university president, not known as a supporter of intercollegiate athletics, has chosen to take back $800,000 of student fee money promised to HRSU Athletics for the upcoming year and re-allocate that money to cover the funds withdrawn by the state legislature. The Microsoft Excel spreadsheet found on Blackboard represents the recently approved budget for HRSU Athletics for the 2019-20 fiscal year. As you will see on the budget, $800,000 in student fee revenues was deleted from the budget, leaving HRSU Athletics with a projected budget deficit of S737.500 for the upcoming year. HRSU Athletic Director Bob Jones has historically budgeted somewhat conservatively during his five-year tenure at the school, trying to project a budget surplus of $50,000 or more to cover unexpected expenses that always occur throughout the year. While this was the case again this year (a surplus of S62,430 had been projected), that surplus was only a small fraction of the amount needed to compensate for the large loss of student fee money that must now be accounted for Smith made the decision today to hire Collegiate Athletics Consulting (CAC), a recently created sports consulting firm, to provide an unbiased way to balance the department's budget. CAC, of which you are one of the employees, has a very short period of time to provide HRSU Athletics with a recommended solution to its budget crisis. The short tum around time on this project was necessitated by the fact that HRSU is nearing the beginning of the new fiscal year and needs a solution immediately in order to proceed with its preparations for the upcoming year. CAC has agreed to come in as a consultant for this budgeting crisis at a fee of $10.000. You have been appointed to serve on a CAC project committee that will handle this project CAC officials met with Jones and the HRSU athletic stat recently to sather information about the project and leamed several important things including 1 Revente nubes e been conservatively predicted for the upcoming year and are O Assignment 3 - Athletics Budget Case Study Recently, the athletics program at Hampton Roads State University (HRSU), a hypothetical NCAA Division I-AA school in the mid-major Eastern Atlantic Athletic Conference (EAAC), completed its annual budget review. The current fiscal year is about to begin in just a few months. Word is rapidly spreading across campus that the state legislature, facing a budget crisis in this election year, has pulled back a considerable portion of the money originally allocated to all state universities for the upcoming fiscal year. As a result, the university president, not known as a supporter of intercollegiate athletics, has chosen to take back $800,000 of student fee money promised to HRSU Athletics for the upcoming year and re-allocate that money to cover the funds withdrawn by the state legislature. The Microsoft Excel spreadsheet found on Blackboard represents the recently approved budget for HRSU Athletics for the 2019-20 fiscal year. As you will see on the budget, $800,000 in student fee revenues was deleted from the budget, leaving HRSU Athletics with a projected budget deficit of S737.500 for the upcoming year. HRSU Athletic Director Bob Jones has historically budgeted somewhat conservatively during his five-year tenure at the school, trying to project a budget surplus of $50,000 or more to cover unexpected expenses that always occur throughout the year. While this was the case again this year (a surplus of S62,430 had been projected), that surplus was only a small fraction of the amount needed to compensate for the large loss of student fee money that must now be accounted for Smith made the decision today to hire Collegiate Athletics Consulting (CAC), a recently created sports consulting firm, to provide an unbiased way to balance the department's budget. CAC, of which you are one of the employees, has a very short period of time to provide HRSU Athletics with a recommended solution to its budget crisis. The short tum around time on this project was necessitated by the fact that HRSU is nearing the beginning of the new fiscal year and needs a solution immediately in order to proceed with its preparations for the upcoming year. CAC has agreed to come in as a consultant for this budgeting crisis at a fee of $10.000. You have been appointed to serve on a CAC project committee that will handle this project CAC officials met with Jones and the HRSU athletic stat recently to sather information about the project and leamed several important things including 1 Revente nubes e been conservatively predicted for the upcoming year and are O
