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From ESPN.com:

NCAA slashes distribution to Division I schools by $375M

Mark Schlabach
ESPN Senior Writer

The NCAA board of governors voted unanimously on Thursday to distribute $225 million to Division I schools in June -- less than half of what it had previously budgeted -- following the cancellation of its basketball tournaments and other winter and spring championships because of the coronavirus pandemic.

The NCAA had planned to distribute about $600 million, with the first distribution scheduled for April.

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Does this hurt P5 more than G5 schools because they have more to lose and counted on that money in their budgets? Or do G5s have little margin for error so more impactful to them?

My guess would be that it hurts G5s more. Most schools at all levels lose money on athletics, so small-budget schools really feel the impact even more. A school like SMU or Tulane or Tulsa has to justify the investment by the university to cover the costs of the athletic program, so anything that reduces the athletic department's ability to even approach self-sustainability is significant. SMU has money (what's the endowment these days, $1.5 billion?), but doesn't spend a lot on athletics. Salaries for football and men's basketball head coaches, and major projects like the indoor practice facility or the upcoming soccer/track facility are done through private donations. This could have a major impact on small (G5) schools, I would think.