October 6, 2005
Over the past week, I have posted updates on the many changes occurring in McDonough since last July. The first post addressed the critical area of support for student-athletes and coaches. The second described efforts to improve external relations for the department. This third and final look at organizational change within Georgetown athletics looks at steps being taken to insure good stewardship of the resources available.
Revenues and Expenses. Improving revenues and expense management is a matter of good stewardship as well as a matter of financial necessity. The following three near-term objectives provide first steps in addressing this critically important goal:
1. Return to department the formerly contracted-out responsibility for corporate sponsorship.
2. Create a dedicated sales function for season tickets.
3. Increase internal financial planning and monitoring capabilities.
CURRENT STATUS OF PLANNED CHANGES: IMPROVING REVENUES AND EXPENSE MANAGEMENT
| OBJECTIVE | PLANNED CHANGE | STATUS |
|---|
| 1. Corporate sponsorship | Manage internally with two new staff positions | Dan O'Neill and Steve Hines hired to fill internal positions |
| 2. Ticket sales | New salesperson position added for season tickets | Steve Alleva hired |
| 3. Budgeting and forecasting | New position created: Director of Business Operations | Debby Morey hired |
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RETURN to VFTH Home |
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A new bulldog-ish approach to financial management ahead |
