How Much Cash Do You Have?

D3Playbook APRIL 3, 2020 | written by STEVE ULRICH your must-read briefing on what's driving the day in NCAA Division III Our goal is to keep you - the influencers in DIII athletics - apprised of what's happening around Division III - the games, polls, news, happenings, awards, calendar of events, and much more. We hope you enjoy d3Playbook and that you'll share this with your friends, colleagues and co-workers. >> Good Friday Morning!  One week closer. >> Today's Word Count: 1,018. Smart, concise. An informative read that's just over 5 minutes. >> Thanks for reading D3Playbook. We appreciate your kind words of support. Please recommend us to a friend or co-worker. Or share with your staff and bring them up-to-speed on what's happening in DIII. Subscribe to d3Playbook 1. How Much Cash Do You Have? by Dan Bauman, Chronicle of Higher Education "Worst-case scenario, $2.8 million. That’s about how large an operating loss Trinity University in Texas is contemplating at the end of this fiscal year as a result of the coronavirus pandemic. Six months ago, no one could have forecast the extraordinary financial stress academe would be under at this moment — with housing refunds to deliver, a recession likely to be underway, and the frightful prospect that students may not be able to return to campus in the fall. But, for the moment, Trinity may be better positioned than many institutions in the short term to weather the outbreak’s fallout. In a letter to bondholders this month, the university disclosed that its “rainy day” funds — accounts holding unrestricted, readily available cash and other liquid assets — contain approximately $26 million. It’s that kind of liquidity that private universities and colleges across the country will need to continue operations, as the nation struggles to get the virus under control." >> Situational Awareness: "Summer is coming. Institutions traditionally rely on revenue from events like camps, conferences, and community programs to support some level of operations in the summer months. But this year, officials need to assume those revenue streams will evaporate." >> Number Crunching: "The Chronicle combed through publicly available documents from the two ratings agencies to survey how expendable resources might fare against standard operating expenses over a prolonged period of time." “Monthly Days Cash on Hand" reflects the estimate by Moody’s of the number of days it believes an institution will be able to cover cash operating expenses from monthly liquidity. Birmingham-Southern - 13 Marymount - 157 Hanover - 164 Clarkson - 171 Middlebury - 177 Case Western Reserve - 186 Webster - 280 Kalamazoo - 446 Gettysburg - 463 Skidmore - 613 Standard & Poor’s uses a different metric — an expendable-resources-to-operations ratio — to determine if an institution is carrying sufficient and flexible resources. The ratio reflects retained wealth available to cover operating expenses. Generally, a ratio of 0.4 represents approximately 140 days, or one semester of operating expenses. NYU - 0.263 Wilkes - 0.300 Gallaudet - 0.341 Sarah Lawrence - 0.357 Stevens - 0.518 Moravian - 0.543 McDaniel - 0.620 Case Western - 0.856 Allegheny - 1.138 Middlebury - 2.003 Grinnell - 10.817 >> The Key Stat: March has seen at least four private, nonprofit institutions draw upon or seek the availability of lines of credit. On March 10, Alvernia University established a $15-million line of credit. And on March 23 the investment bank JPMorgan Chase provided Ursinus College with a $5-million line of credit. >> What They're Saying: "Relying on credit is appealing, especially — though not exclusively — in a time of crisis. “I’d much rather borrow against a line of credit at zero interest rate than take money out of the endowment,” said Kent John Chabotar, president emeritus of Guilford College and an expert on college finances. >> Go Deeper 2.  Amherst Asks for Help by Madeline St. Amour, InsideHigherEd.com "Amherst College in Massachusetts is asking for help raising funds to cover the switch to remote learning. In a letter to the college community, Andrew J. Nussbaum, chair of the college's trustees, asked for help covering the costs, which may exceed $10 million, according to MassLive Media. “Financially, the College remains secure, though we will experience substantial increased costs to honor the commitments we have made. We estimate that the overall financial impact to the College of the move to remote learning may exceed the $10 million raised by the Amherst Fund last year,” Nussbaum wrote. “As you’d expect, the College’s endowment valuation has already declined, and may decline further, due to the economic environment.” 3.  #WatchD3   Now, more than ever, America is turning to streaming video for quality content to get it through this time of crisis. And, as Division III members, we should do our part to ensure that the ole' U-S-A gets to watch quality content. So here are our featured games of the weekend. Friday: 2016 Men's Lacrosse Final (Salisbury vs. Tufts) Saturday: 2018 Women's Lacrosse Final (Gettysburg vs. Middlebury) Sunday: 2017 Softball Title Game (Virginia Wesleyan vs. St. John Fisher) D3Playbook encourages you to unlock the vault on your outstanding #WatchD3 games, just like @LETUAthletics, @GoUBears, @MITAthletics and @EphSports to name a few. >> Be Smart: Now more than ever, DIII needs to show what quality athletics is all about. SPONSORED MESSAGE Would you like to sponsor this newsletter? Would you like to advertise an open position in your department for a head coach or administrator? Contact d3playbook@gmail.com to get your job opening in front of more than 700 decision-makers in small-college athletics. 4. Dealing With a Pandemic 𝐍𝐂𝐀𝐀 𝐒𝐨𝐜𝐢𝐚𝐥 𝐒𝐞𝐫𝐢𝐞𝐬 | 𝐄𝐩𝐢𝐬𝐨𝐝𝐞 𝟐 ᴅᴇᴀʟɪɴɢ ᴡɪᴛʜ ᴀ ᴘᴀɴᴅᴇᴍɪᴄ@emoryuniversity associate chief medical officer @colleenkraftmd, Dr. Brian Hainline and @TheAndyKatz continue the discussion around college sports & COVID-19. https://t.co/bbUiq1dOQr — Inside the NCAA (@InsidetheNCAA) April 2, 2020

5.  Comings and Goings Laura Skandera Trombley named president at Southwestern. Dave Weitzman named head women's soccer coach at Muhlenberg. Tyler Bormann named head men's basketball coach at Concordia-Moorhead. Alicia Mucher resigned as head women's basketball coach at Houghton. Elizabeth Ellinger resigned as head women's volleyball coach at Lynchburg. Scott Thielke resigned as head men's tennis coach at Kenyon. Marc Slade named assistant men's basketball coach at Roanoke. Duncan Vosburg named head esports coach at Anderson. Augustana adds women's wrestling as a varsity sport in 2021-22. Wesleyan (Ga.) adds track and cheer as varsity sports in 2020-21.

6.  1 Beer Thing Time to go to "Beer School." Today's lesson - style—the breathtakingly diverse family of beers from across the world, and their variations, which often blur the lines of what a given beer “should” be. Because of this blurring, you could hardly fault a casual drinker for not being able to tell the difference between a kettle sour and an ale traditionally soured in a barrel, or for not having any earthly clue what even defines an IPA anymore. >> Read on for the answers to everything you wanted to know about common craft beer styles. >> A clear response to the wine drinking article earlier this week. Have a great weekend.

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