NACUBO Comments on Potential Changes to OMB Circulars
On April 30, NACUBO submitted comments to the Office of Management and Budget on proposed reforms to circulars used by colleges and universities. Concerns raised included the implementation of a flat indirect cost rate, an increase in the threshold for triggering a single audit, and the consolidation of cost principles into a single document.

NACUBO and ACE Negotiate New Rates for College and University Radio Stations
After lengthy negotiations with performance rights organizations, the American Council on Education and NACUBO have reached a five-year agreement on rates paid by college and university radio stations not affiliated with National Public Radio.

FASB Proposal Addresses Donated Securities
The Financial Accounting Standards Board has proposed an Accounting Standards Update to clarify how the statement of cash flows presents donated securities.

Register Now: Campus Climate Leadership Summit
The 2012 Climate Leadership Summit, hosted by American University in Washington, DC, on June 21-22, will focus on “Economic Renewal: Jump-starting a Sustainable Economy through the ACUPCC.” The Summit provides a unique opportunity to engage in a highly interactive discussion with senior leadership at peer institutions and collaborate on ways to advance sustainability efforts on campuses across the country.

ED Opens New Rulemaking Effort
Changes to federal student aid rules addressing fraud, disbursement, and the campus-based student aid programs will be the focus of a new negotiated rulemaking initiative announced by the Department of Education. Two public hearings, scheduled for late May, will kick off the process.

Congress Considers Provision to Alter Pension Obligations
A provision in the Senate highway bill could increase discount rates and lower funding requirements for private sector, single-employer, defined-benefit pension plans. The proposal will be discussed as congressional negotiators attempt to find agreement on transportation spending.

Obama Issues Executive Order to Protect Veterans and Service Members
President Obama has issued an Executive Order directing that a set of principles be designed to protect veterans and service members who receive federal education benefits. Institutions would be required to provide additional disclosures and educational plans to students and provide refunds on a pro-rata basis.

Recent GASB Proposal Clarifies Combinations
The latest Governmental Accounting Standards Board exposure draft contains guidance for reporting government combinations and disposals of operations.

Congressional Hearings Examine Tax Extenders and Municipal Bond Provisions
Hasty adoption of changes could limit or eliminate tax-exempt financing, cautioned NACUBO in a letter to Chairman Baucus and Senator Hatch of the Senate Finance Committee.