(5-30-21) The state of Ohio, according to an April 23rd OHSAA memo, awarded the OHSAA $2 million dollars to reimburse the association for revenue lost in tournament expenses due to the pandemic.
As the attendance restrictions continued into the winter season,it became clear that the annual loss might total over $2million since it appeared that we would have many sports that were allowing no spectators at all or very limited attendance. The organization responded by reaching out to the Governor’s office, which awarded OHSAA $2million to reimburse tournament expenses through September 2022.
The state money was awarded before the OHSAA Board voted to approve member dues in the future to member schools and the much higher tournament ticket prices this spring for tournament events.
No other details from the OHSAA are available on the actual use of the state money….and why oh why were the dues and ticket increases needed. This added to the majority of the ticket income from spring tournament games going back to the association and the schools hosting tournaments getting very limited expense money and schools competing in the tournament bearing the cost without reimbursement for expenses.
Some member schools are questioning the recent actions by the non-profit OHSAA.
Other items –
From the above memo –
OHSAA has received two PPP loans, one for $589,910 and the second for $559,665 for a total of $1,149,575. The first was spent beginning last fiscal yearand the forgiveness paperwork has been submitted. The second is being spent currently. These dollars can only be used for payroll and benefits and cover staff in the Columbus officeand staff at the district level.
From the May 3rd Special Meeting (see below) –
Recommendation to Approve Securing a Line of Credit
Chief Operating Officer Kim Kiehl said the OHSAA has pursued a line of credit, and she and Executive Director Ute recommended that the Association move forward in securing the credit line. The OHSAA currently has no plans to draw on the line of credit, which would be for $750,000, but believes having this in place would be wise in the event of an emergency situation. The OHSAA Finance Committee recommended approval last summer. The recommendation was presented in the form of the following resolution:
Whereas, the OHSAA, as a private, unincorporated association not-for-profit, and the sole owner of the building located at 4080 Roselea Place; and
Whereas,at the start of the COVID pandemic the Board authorized the Finance department to pursue a line of credit with Wesbanco; and
Whereas, WestBanco has assessed the building and is now offering a line of credit for $750,000 at Prime minus .25% (with Prime currently being 3.25%),
Now therefore, be it Resolved
That the Board approves the execution and closing of this loan and authorizes the Chief Operating Officer, Dr. Kimberlee Kiehl, to sign and enter into an agreement with WesBanco for said line of credit.
Motion by Jan Wilking, second by Steve Watkins to approve the recommendation as presented.
Motion passed 9-0.
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