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DIII Strategic Planning and Finance Committee backs three-year budget cycle

Committee bases decision on impact of COVID-19 and other financial issues

At its meeting via teleconference Wednesday, the Division III Strategic Planning and Finance Committee proposed a one-time, three-year budget cycle for 2021-22 through 2023-24.

The three-year budget cycle was recommended due to the impact of the COVID-19 pandemic and members’ belief that a three-year cycle, versus the division’s traditional biannual cycle, will best position the division. The Management and Presidents Councils will review and finalize the recommendation during their January meetings in conjunction with the 2021 NCAA Convention. In June, the committee had endorsed budget cuts of nearly $2 million a year annually for fiscal years 2021-24 to offset projected budget shortfalls.

“Typically Division III works on a two-year budget cycle, but with the unique challenges COVID-19 has had on our budget, this one-time, three-year budget cycle allows us to best work through those,” said Fayneese Miller, chair of the Strategic Planning and Finance Committee and president at Hamline. “I applaud this committee and our leadership across the division on the way they continue to make the necessary decisions to position our membership and student-athletes well for the present and future.”

The committee also was given a report that the division finished 2019-20 with a $7.2 million deficit after a catastrophic insurance payment of $5 million was received. The deficit is being covered by the division’s mandated reserve.