June 1, 2015
Coats Introduces Bill to Address 1098-T ComplianceCoats Introduces Bill to Address 1098-T Compliance
Sen. Dan Coats (R-IN) has introduced legislation that would ease the annual cycle of proposed fines and waiver requests related to missing or inaccurate taxpayer identification numbers on Form 1098-T. The bill would also require taxpayers to possess a Form 1098-T or other form of proof in order to qualify for education tax benefits.

Resources Available to Help with FASB's NFP Proposal

The Financial Accounting Standards Board (FASB) has posted a Q&A document to help constituents understand its proposed Accounting Standards Update, "Presentation of Financial Statements of Not-for-Profit Entities." FASB has also released an In Focus newsletter dedicated to the proposal. On June 25, NACUBO will host a webcast on the exposure draft. The program is complimentary for member institutions and features FASB staff and higher education controllers.

Share Your Campus Efficiency Story in Nashville

The deadline to submit campus efficiency posters for display at the NACUBO 2015 Annual Meeting has been extended to June 15. Brag about your campus accomplishments and receive a discount for up to two annual meeting attendees.

Higher Ed Community Weighs In on Cadillac Tax

NACUBO has endorsed comments submitted to the Internal Revenue Service by the American Council on Education that provide suggestions and reactions to proposed guidance regarding the excise tax on high cost employer-sponsored health plans.

NACUBO Responds to Campus Accountability and Safety Act

Sens. Claire McCaskill (D-MO) and Kirsten Gillibrand (D-NY) released an updated version of S. 590, the Campus Accountability and Safety Act, in February. NACUBO recently joined the American Council on Education and 12 other higher education associations in providing comments on the complicated set of issues the legislation addresses.

Revised CUBA Chapters Released

Two updated chapters of the College and University Business Administration manual are now available and complimentary.

CBO Salaries Rise 4.7 Percent

The median salary of higher education chief business officers (CBOs) increased from $172,000 in 2013-14 to $180,000 in 2014-15, according to an annual survey by the College and University Professional Association for Human Resources. The survey collects data for top executive officers and other higher-level positions at public and private colleges and universities.

FARM and FAIS Access Now Available to All NACUBO Members

Beginning today, all NACUBO members will be granted complimentary access to two premier online resources, Financial Accounting and Reporting Manual and Federal Auditing and Information Services. With both FARM and FAIS, staff members can quickly research auditing, accounting, and reporting questions through their My NACUBO online account. Both products provide hyperlinked indexes, searchable text, and the ability to download and print, as well as campus wide access. FARM and FAIS are also available for purchase for non-members.



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