OMB Releases 2021 Compliance Supplement
The new publication contains updates on Higher Education Emergency Relief Fund (HEERF) programs, among other items.
NACUBO Joins Amicus Briefs on COVID-19 Tuition Lawsuits
Some students who were displaced from campus due to the coronavirus pandemic and their parents have filed lawsuits for tuition refunds. NACUBO joined 18 other associations in an amicus brief countering the assertion that the pivot to online operations caused by COVID-19 was somehow a financial windfall for institutions and are working to detail the tremendous costs institutions have incurred.
FASB’s NFP Advisory Committee Reviews Recent Implementations and New Topics
Not-for-Profit Advisory Committee members, including NACUBO, recently provided implementation feedback on revenue recognition, conditional contributions, and leases, and discussed current projects. A meeting recap and materials are now available.