Business planning aids the university in determining the specific revenues and expenses required to properly resource and maintain a comprehensive Athletics program. CarrSports will assist in developing the framework and strategies for achieving Athletics’ internal financial goals. Basic elements to the planning process include the following:
- Assumptions that establish a collective agreement on the financial and competitive environment in which the university and athletics operates.
- An analysis (Situation Analysis) which provides a description of the most salient internal and external environmental factors, which influence the university’s ability to finance its Athletics’ program. Integrated benchmark data points from peer, competitor and aspirant institutions.
- A concise revenue and expense model for Athletics, including financial pro forma depicting Athletics’ current and projected revenue and expense positions.
- Delineation of capital outlay and contingencies necessary for sustained success.
- Determination of expense projections by combining a zero-based budgeting process with benchmark goals and realistic assumptions.
- Incorporation of industry best practices.