May 31, 2017
White House Releases Details of Ambitious Budget Cutting PlanWhite House Releases Details of Ambitious Budget Cutting Plan
The Trump administration released the details of its 10-year budget plan, and fiscal battles are underway in Washington. Lawmakers have begun hearings, and difficult negotiations are ahead as they hope to finalize a budget—and vote to lift the federal debt ceiling—before fall.

Congress Unveils Legislation to Create Student Unit Record System

The bipartisan proposal, introduced in both the U.S. House and Senate, would increase the data available to the Department of Education, students, and families. Critics are concerned with privacy implications.

ED Issues Guidance on Returning Excess Interest

To comply with the Department of Education’s cash management regulations, institutions will need to submit any interest earned on Title IV funds over $500 to the Department of Health and Human Services by July 30.

9 Campuses Named Green Ribbon Schools

For the third year, the Department of Education has included postsecondary institutions among the awardees.

New GASB Standard Addresses In-Substance Debt Defeasance

The Governmental Accounting Standards Board recently issued guidance for transactions that extinguish debt using a governmental entity’s resources set aside to repay the outstanding debt. Statement 86 is effective for fiscal years beginning after June 15, 2017, FY18 for the vast majority of public institutions.

IRS Changes Position on Payments to Non-NRSA Fellows

The Internal Revenue Service recently changed its position on the tax treatment of research fellows working on certain federal grants, according to a recent private letter ruling.

What Did I Miss in Washington? May 15-May 31, 2017

For business officers who need to be in the know, read on for a rundown of political developments NACUBO is following.

2017 CAO and CBO Collaborations

August 7-8, 2017
Washington, DC

This annual workshop, offered jointly by NACUBO and the American Council on Education, offers CAOs and CBOs an action-based chance to explore ways to build effective partnerships and meet current economic challenges. Early registration rates end June 1; CAO-CBO teams who register together will receive an additional discount.


 

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