January 11, 2016
5 Federal Policy Actions in 2015 That Will Impact Higher Education5 Federal Policy Actions in 2015 That Will Impact Higher Education
Despite deep partisan divides, party infighting, and the surprise departure of then-Speaker of the House John Boehner, Washington lawmakers were remarkably productive in 2015, enacting major legislation and implementing new regulations impacting students, families, and institutions of higher education.

Penalty Relief for 2015 Incorrect TIN Reporting on Form 1098-T

The IRS will not penalize colleges and universities for missing or inaccurate student taxpayer identification numbers (TINs) reported on the 2015 Form 1098-T.

Myriad Late December Federal Policy Actions Include New 1098-T Requirement

In the final weeks of 2015, Washington lawmakers agreed to a massive budget and tax deal—with notable implications for colleges and universities—and extended the Perkins Loan program. As the year ended, NACUBO also weighed in on student health insurance, treatment of hazardous waste, and an IRS gift substantiation proposal.

New FASB Standard Eliminates Some Fair Value Disclosures

Disclosures in the notes about the fair value of financial instruments reported at cost or amortized cost on balance sheets (e.g., debt) are no longer required thanks to a new Accounting Standards Update issued by FASB.

New GASB Guidance Addresses Non-State Defined Benefit Pensions

A new GASB standard exempts certain defined benefit multiple-employer plans provided to state and local governmental employees from Statement 68 requirements.

ACA Reporting Deadlines Extended

There’s now more time to comply with information reporting requirements under the Affordable Care Act, the IRS recently announced.

GASB Issues Exposure Draft on Fiduciary Activities

The Governmental Accounting Standards Board has clarified the meaning of fiduciary activities and how they should be reported. Comments are due March 31.

Coming Soon: Participate in NACUBO Survey of Chief Business Officers

College and university CBOs will soon be invited to participate in NACUBO’s 2016 National Profile of Higher Education Business Officers, a survey that helps to identify who today’s CBOs are, what makes them successful, and what NACUBO can do to best serve the CBOs of tomorrow.

NCES Data Show Recent Completion Rates, COA and Net Prices

New statistics from the Department of Education illuminate graduation rates for recent cohorts of undergraduates, as well as the effects of grant and scholarship aid on awardees’ net prices of college.

CFPB Issues Report on Credit Cards, Guidance on Banking Relationships

The Consumer Financial Protection Bureau recently released new resources on student banking accounts.

How Ratings Agencies Assess your Institution: An Objective Framework

Recorded on Tuesday, January 12, 2016

Experts from Standard & Poor’s, George K. Baum & Company, North Carolina State University, and the University of Denver will explore how ratings agencies rate institutions and how bonds are priced depending on rating actions. Use this information to inform your internal and external constituencies about the impact of operational and strategic decisions on your organization's financial health. Register now!

This program is supported by Crowe Horwath.

2016 Facilities and Administrative Rates - Long Form

January 25-26, 2016
Orlando, FL

If you’re new to the long-form methodology or need to learn more about sponsored research cost accounting, you won’t want to miss this workshop. Topics covered will include cost-accounting rules per OMB’s Uniform Guidance, audit considerations, and much more. Earn up to 12 valuable CPE credits. 


 

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