More questions were raised than answered about a revenue-sharing plan the NCAA hopes to implement by August, but that was the purpose of yesterday's hearing involving members of a special advisory committee and officials from several conferences and universities.

For more than three hours at Stouffers Concourse Hotel in Crystal City, four committee members, including ACC Commissioner Gene Corrigan, presided over one of three nation-wide hearings. The other two were held yesterday in Chicago and San Francisco. The meetings were the first step in a process that should provide the NCAA with an alternative method of allocating the $1 billion it received from signing a seven-year television contract with CBS-TV in December. Currently, schools are rewarded based on how far they advance in tournaments.

"There has to be resolution of this issue," said Georgetown Athletic Director Frank Rienzo, one of the hearing's more vocal participants. "I think this is an excellent idea, and I give the committee a great deal of credit. But the dilemma is when you get a national association, to come to some consensus is very difficult."

It appears most of the committee's 12 general recommendations for disbursement -- which include providing catastrophic-injury insurance for student-athletes, enhancing funding for Division II and III championships, and increasing various scholarship funds -- were agreeable to those in attendance. The proposed two-part formula for distributing the wealth likely will be debated more vigorously as the advisory committee prepares its final recommendations for the July 10-11 meeting of the NCAA budget subcommittee.

Based on the advisory committee's formula, $47 million of the 1990-91 budget is required to cover the 12 suggestions. The remaining $64 million would be distributed in two equal shares: The first half is based on an institution's number of sponsored sports, number of times it and its athletes have participated in an NCAA championship, and number of grants-in-aid it offers. The second is based on each conference's performance in the NCAA basketball tournament, based on a rolling average over a period of three to six years.

This two-share proposal caused much of the debate, as several university administrators suggested new criteria for the distribution of funds. Although everyone seems to like the broad-based nature of the proposal, the plan raises "a number of unanswered questions," according to Colonial Athletic Association Commissioner Tom Yeager.

Yeager also questioned a recommendation that would award $1,000 to scholarship athletes upon graduation.

"By and large, I think it's going to buy a new Sony Trinitron {television} or a car after graduation," Yeager said of the proposed stipend.

Said Metro Atlantic Athletic Conference Commissioner Richard Ensor: "I wonder about the message we're sending when we give an athlete $1,000 when they graduate. We're diminishing the value of an education, room and board and tuition with graduation rewards."

Although the distribution formula won't be finalized until August, several in attendance lauded the committee's efforts in changing a system that has led to complaints that traditional basketball powers grew richer at the expense of others, such as the University of Nevada-Las Vegas. The Runnin' Rebels earned $1.4 million for winning this year's NCAA tournament.

"It's a step that might not go as far as {some people want} it to, but it's a step the NCAA {Executive} Committee has never taken," said Roy Kramer, a committee member and commissioner of the Southeast Conference.