December 16, 2014
Congress Finalizes FY15 Federal BudgetCongress Finalizes FY15 Federal Budget
Over the weekend, Congress passed a $1.1 trillion FY15 federal budget, funding the federal government through September 30, 2015. The legislation sets the Pell Grant maximum award at $5,830 for academic year 2015-16.

ED Proposes Changes to Rules on Teacher Preparation Programs

States would rely on a number of new outcome measures to rate their teacher preparation programs under revised regulations proposed by the Department of Education. Low-performing programs risk loss of eligibility for Title IV funds. Changes to the TEACH Grant program also are on the table.

The Wait Continues on Tax Extenders and Terrorism Risk Insurance Renewal

The Senate is expected this week to pass a tax package that extends through the end of the year dozens of provisions that expired on December 31, 2013. It is also slated to vote on a more controversial extension of the Terrorism Risk Insurance Act.

GASB Releases Preliminary Views on Lease Accounting

The Governmental Accounting Standards Board has issued a Preliminary Views document on lease accounting with a public comment deadline set for March 6, 2015.

Perkins Loan Program Update

The Perkins Loan Program is scheduled to expire on September 30, 2015. As campuses plan for the 2015-16 academic year, several questions about Perkins Loan processing have emerged. On December 2, a Department of Education official announced at the Federal Student Aid Training Conference that institutions can award Perkins Loans for academic year 2015-16 provided the first disbursement is made before October 1, 2015. The department will provide details in a "Dear Colleague Letter" it expects to publish by early January.


Do you know someone who has made outstanding contributions to higher education in the fields of business and financial management, accounting and reporting, tax compliance and administration, endowment and investment management, or professional development? If so, nominate them for a 2015 NACUBO Award. In addition to individual nominations, NACUBO will recognize institutions in each constituent group that have made exemplary improvements to their campus through process improvements and resource enhancements. Nominations must be postmarked by Friday, March 6, 2015 for consideration. Awards recipients will be announced during NACUBO's annual meeting in Nashville, Tenn. 

NACUBO's Endowment and Debt Management Forum will be held in New York City February 4-6, 2015. Among the confirmed speakers: Jim Paulsen, chief investment strategist at Wells Capital Management, who will deliver his Economic and Financial Market Outlook for 2015; and Jamie McAndrews, executive vice president and head of research at the Federal Reserve Bank of New York, with insights into financial policy analysis and the Federal Open Market Committee.

Early bird registration ends on January 7, 2015.

Publishing Break

Current will take a publishing break after today's edition. The next Current will land in your inbox Monday, January 12, 2015. Please check the NACUBO website for any updates. Until then, happy holidays! 



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