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Business and Policy Areas
Business and Policy Areas

Intercollegiate Athletics

NCAA Financial Reporting Changes for FY15

Division I NCAA institutions will have reporting changes for FY15 reporting, due Janaury 15, 2016. New requirements affect revenue and expense definitions and presentation categories, including changes to indirect facilities and administrative support, contributions, NCAA/Conference distributions, athletic facilities debt service, leases and rental fees, conference realignment expenses, athletic facilities debt, and dedicated endowments. Modifications to minimum agreed-upon procedures include materiality evaluation, additional supplemental reporting requirements for large variances, and multiple changes to procedures for both revenues and expenses.

Slides from 2015 NACUBO Higher Education Accounting Forum

 Background and Current Requirements

Agreed Upon Procedures

In August 2004, National Collegiate Athletic Association (NCAA) legislation was amended to change the NCAA financial reporting timeline, to specify the agreed-upon procedures and related reporting, and to update the agreed-upon procedures to reflect the changes in reporting definitions approved by the membership. NCAA member institutions have two NCAA requirements for reporting financial data. One requires an agreed-upon procedures report be submitted to the chief executive officer (CEO) and the other requires online reporting financial data to the NCAA. These are two separate and distinct processes. However, changes in legislation will make the two processes more compatible. Additionally, the agreed-upon procedures will result in data similar to that required by Equity in Athletics Disclosure Act (EADA). Agreed-upon procedures must be performed annually by January 15 for Division I members, Division II members once every three years and Division III members may rely on the work performed by their auditors based on the institution's audit cycle.


The Equity in Athletics Disclosure Act requires co-educational institutions of postsecondary education that participate in a Title IV, federal student financial assistance program, and have an intercollegiate athletic program, to prepare an annual report to the Department of Education on athletic participation, staffing, and revenues and expenses, by men's and women's teams. Reporting is due by October 31 for the most recent fiscal year end. There is no requirement to provide information about agreed upon procedures, capital support, or indirect institutional support. t

NCAA Financial Reporting

In January 2005, the NCAA initialized reporting requirements that required institutions to report more detailed levels of revenue, expense, and direct / indirect institutional support. The NCAA requires agreed-upon procedures to be performed before the NCAA reporting date of January 15. Division I reports annually, Division II reports every three years, and Division III reports every three years but the due date varies based on the institution's audit cycle. (EADA reporting is a subset of NCAA reporting. The Department of Education does not require capital expenditures survey, reporting and disclosure of third-party support, indirect institutional support or agreed-upon procedures.) NCAA financial reporting yields a dashboard for participating institutions. The dashboard allows institutions to compare financial results with peers in their conference, or against groups created by dashboard tool users.

Slides from September 2005 NACUBO-NCAA Webcast

Q&A from September 2005 NACUBO-NCAA Webcast