|GASB Releases New Pension Guidance|
The Governmental Accounting Standards Board has approved a new pension standard that will affect how governmental entities measure, report, and disclose information about defined benefit pensions offered to employees. The new guidance, which takes effect in FY15, will impact public higher education institutions.
Additional Guidance Provided on Principles of ExcellenceThe Department of Education issued a Dear Colleague letter to answer questions about the expectations in Executive Order 13607 for colleges and universities enrolling veterans, service members, and their families.
New Liquidity Risk Disclosures Proposed for Independent InstitutionsThe Financial Accounting Standards Board has proposed new financial statement disclosures about risks arising from an entity’s recorded and unrecorded financial instruments and cash flow obligations. The proposed Accounting Standards Update would require both quantitative and qualitative disclosures aimed at helping users of its financial statements better assess an institution’s ability to meet its financial obligations.
Upcoming Workshop on Bond ComplianceNACUBO has collaborated with the Treasury Institute for Higher Education in designing The Tax-Exempt Bond Compliance Workshop, to be held September 10-11, in Indianapolis. The program will offer university treasury and tax compliance staff the opportunity to share best practices and develop successful strategies for tax-exempt bond compliance.
GASB Addresses Government GuaranteesThe Governmental Accounting Standards Board’s latest Exposure Draft covers financial guarantee arrangements between governments. The proposal addresses assurances of debt repayment and credit enhancements in which the guarantor government does not receive equal consideration in exchange for the guarantee.
New Business Officers (NBO) Program
The New Business Officers Program is designed to provide resources, information and guidance to those new to the Chief Business Officer role within a higher education setting. In a newly improved, intensive two-day workshop, participants will examine the current complexities of the chief business officer and learn from experienced chief business officers, presidents, provosts, NACUBO experts and other pivotal higher education representatives.
The NBO program will be held from July 26-28 at the Gaylord National hotel and conference center during the NACUBO Annual Meeting.
Governance: Business Administration Basics
As core members of executive management, chief business officers play a crucial role in supporting the governance process: They are a source of information for the board, the administrative liaison to board committees, and a trusted advisor to the president.
Learn more about the importance of governance in the recently released chapter of College & University Business Administration, 7th Edition. Download your free copy today.