June 15, 2015
NACUBO Identifies Concerns with ED's Proposed Cash Management RulesNACUBO Identifies Concerns with ED's Proposed Cash Management Rules
NACUBO has raised a variety of concerns regarding the Department of Education’s proposed changes to its cash management regulations relating to student banking relationships. ED is accepting comments until July 2, despite requests by NACUBO and others to extend the comment period. NACUBO will file comments on behalf of its members and encourages feedback to its policy contacts by June 22, as well as directly to ED by July 2.

GASB Issues OPEB Standard

The Governmental Accounting Standards Board unanimously voted to approve Statement No. 75, "Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions." The new standard addresses reporting for other postemployment benefits (OPEB) offered by public colleges and universities to their employees. The standard takes effect in FY18 for the vast majority of public institutions.

NACUBO Collecting Feedback on FASB's NFP Proposal

NACUBO is tracking feedback from the higher education community on the Financial Accounting Standards Board's proposed Accounting Standards Update, "Presentation of Financial Statements of Not-for-Profit Entities."

NACUBO has developed a Feedback Matrix as a quick way to learn the issues and provide commentary. NACUBO wants to hear from members: Download the matrix, enter your observation, and email the document to HEaccounting@nacubo.org. Comments will be logged and uploaded weekly.


A Just-in-Time Webcast to Explain FASB's NFP Reporting Proposal

On Thursday, June 25 at 1:00 p.m. ET join FASB staff, NACUBO, and other higher education professionals for A Just-in-Time Webcast to Explain FASB's NFP Reporting Proposal, designed to explain suggested reforms, pose questions, and inform higher education's comments to FASB. The deadline for public comment is August 20. Registration is complimentary for NACUBO members.

 

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