FASB Proposal Would Update Discount Rate Approach
FASB’s June 2021 proposed Accounting Standards Update on leases would allow all not-for-profit colleges and universities to use a risk-free discount rate, by class of underlying leased asset, as a practical expedient. NACUBO will submit comments in support of the proposal.
GASB Proposals Tackle Disclosures and Practice Issues
Recent GASB exposure drafts address disclosure concepts and clarify guidance in areas such as leases and public-private and public-public partnerships.
OMB Releases 2021 Compliance Supplement
The new publication contains updates on Higher Education Emergency Relief Fund (HEERF) programs, among other items.