FASB Decision Meeting on UPMIFA Scheduled for June 4

WEBCAST: <a href="Distance_Learning/Applying_Strategic_Financial_Analysis_in_Higher_Education_A_Case_Study.html">Applying Strategic Financial Analysis in Higher Education: A Case Study Wednesday, June 6, 2012 1:00 PM EDT
WEBCAST: <a href="Distance_Learning/Shared_Services_Best_Practices_in_Higher_Education.html">Shared Services: Best Practices in Higher Education Monday, June 18 1:00 pm EDT
WEBCAST: <a href="Distance_Learning/Common_Compliance_Pitfalls_with_Study_Abroad_Programs.html">Common Compliance Pitfalls with Study Abroad Programs Wednesday, June 20, 2012 1:00 PM EDT
ON-DEMAND: <a href="Distance_Learning/HEAFCast_-_The_Higher_Education_Accounting_Forum_Online.html">HEAFCast - The Higher Education Accounting Forum Online
ON-DEMAND: <a href="Distance_Learning/On-Demand_Webcasts/OD_Net_Tuition_Revenue_Price_and_Enrollment_How_Can_you_Achieve_Balance.html">Net Tuition Revenue, Price and Enrollment: How Can you Achieve Balance?

May 29, 2008

The Financial Accounting Standards Board (FASB) will deliberate the many issues raised by constituent comments to proposed FASB Staff Position 117-a, "Endowments of Not-for-Profit Organizations: Net Asset Classification of Funds Subject to an Enacted Version of the Uniform Management of Institutional Funds Act, and Enhanced Disclosures" on June 4, 2008. The decision-making meeting can be heard via a live webcast connection through the FASB’s website.

The Board is expected to defer the implementation date by six months, which would mean FY 2009 compliance for the vast majority of independent institutions and the not-for-profit foundations that support public institutions. The Board will be examining disclosure requirements, net asset classifications, and interpretations of the Uniform Prudent Management of Institutional Funds Act of 2006 (UPMIFA).