June 2, 2014
NACUBO Provides Additional Details on DOD's Tuition Assistance MOUNACUBO Provides Additional Details on DOD's Tuition Assistance MOU
In order to continue participating in the Department of Defense’s Tuition Assistance program, colleges and universities have until July 23 to sign the newly revised memorandum of understanding.

No Agreement Reached at ED Negotiated Rulemaking

The stakeholder group convened by the Department of Education to help draft new regulations on state authorization, cash management, and adverse credit determinations for PLUS loans failed to find middle ground and ended its meetings without reaching consensus. ED will now draft proposed rules on its own.

FASB Issues Revenue Recognition Standard

The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have issued their long-awaited converged standard on the recognition of revenue from contracts with customers. The standard applies to all public, nonpublic, and not-for-profit entities reporting under FASB or IASB standards.

OMB Releases 2014 A-133 Compliance Supplement

On May 22, the Office of Management and Budget released the annual Compliance Supplement to Circular A-133, which provides detailed guidance for conducting single audits of states, local governments, and nonprofit organizations.

GASB Exposure Draft Tackles Fair Value

On May 15, GASB issued an Exposure Draft, "Fair Value Measurement and Application," that addresses fair value measurement methods, the assets and liabilities that should be measured at fair value, and required disclosures in the notes to the financial statements. The deadline for comments is August 15.

Bills Would Prohibit Revenue Sharing Tied to Bank Accounts

Bills introduced by Democrats in both houses of Congress would regulate agreements between colleges and universities and financial institutions that involve student bank accounts or debit cards. Under the proposed legislation, revenue sharing would be prohibited, contracts would have to be made public, and institutions would have three years to establish processes to disburse credit balances electronically.

Ways and Means Adopts Permanent Charitable Provisions

Several expired tax provisions would be made permanent in bills marked up by the House Ways and Means Committee on May 29, including the IRA charitable rollover. The committee also passed a new provision enabling donors to make gifts up until the April 15th tax filing deadline and deduct them in the prior year.

Taking a Disciplined Approach to Asset Allocation and Rebalancing

Learn new innovative techniques to improve your endowment performance during the NACUBO webcast, Taking a Disciplined Approach to Asset Allocation and Rebalancing.

Join us June 9 and gain a stronger understanding of the importance of a disciplined rebalancing strategy and how to use volatility as a tool with a formalized rebalancing approach. 


Highlight Your Campus Sustainability Efforts

NACUBO's Sustainability Advisory Panel (SAP) is seeking posters that highlight unique issues or initiatives in energy efficiency, renewable energy and sustainability. Share your initiative and brag about financial savings, carbon reduction, community engagement, waste diversion, or enlightenment of your students, staff, and faculty. The posters will be displayed at the SAP Open House on Saturday, July 19, and throughout the remainder of the NACUBO Annual Meeting. Download this form for more information and to register your poster submission. Sign up by June 1 and receive a 15 percent discount off the advance rate for up to two presenters at Annual Meeting.

 

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