The University Record, February 22, 1999

President calls for review of Athletic Department financial processes

President Lee C. Bollinger issued the following statement at the Feb. 18 Regents’ meeting:

For some months now the central administration and the Athletic Department have been working together to improve the system of budgeting and financial management of the Athletic Department in order to ensure that it will support a premier program for our student-athletes. The recent attention to the projected increase in prices for football tickets has made me more keenly aware of the need to move these discussions to a more formal level. While the decision about ticket prices met every requirement of our current system of financial governance, it also made manifest the need for a process that will inspire greater confidence in our financial decisions. For these reasons, therefore, I am asking Executive Vice President and Chief Financial Officer Robert Kasdin to chair a committee to advise me on the structure of financial management and long-term planning for the department. This review will include examining the relationship between the Athletic Department, the Office of the Vice President and Chief Financial Officer and the Board in Control. I have discussed this with Athletic Director Tom Goss, and he joins me in recommending this study.

Along with Vice President Kasdin, the other members of the committee will be Prof. Percy Bates (currently a member of the Board in Control), Associate Vice President and Deputy General Counsel Liz Barry and alumnus Bill Martin.