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August 10, 2020

GASB Exposure Draft Tackles the Financial Reporting Model →

A final proposal culminating GASB’s seven-year reexamination of its landmark Statement No. 34 has been released. The most significant changes for public institutions are new MD&A requirements and an income (or loss) indicator after appropriations.

August 07, 2020

ED Announces New FISAP Reporting Requirements →

The Fiscal Operations Report and Application to Participate is now available, with several new reporting requirements due to regulatory flexibilities provided because of the COVID-19 pandemic.

July 28, 2020

DHS Announces Sweeping DACA Changes →

The Department of Homeland Security is limiting the DACA program significantly, as agency officials contemplate future attempts to eliminate the program altogether.

July 24, 2020

GASB Seeks Revenue and Expense Field Testers →

Public institutions are able to participate in a field test of the proposed standards in the recently released Preliminary Views, Revenue and Expense Recognition. This is an opportunity to work closely with GASB staff and influence final guidance.

July 24, 2020

Main Street Lending Program Now Open to Nonprofits →

The Federal Reserve Board has launched two new loan options under the Main Street Lending Program to offer access to credit to nonprofit organizations, including some colleges and universities. It is still unclear whether public institutions will be eligible to borrow under the program.

July 24, 2020

Additional CARES Act HEERF Allocations Now Available →

Schools that missed out on initial allocations from the Higher Education Emergency Relief Fund, or those seeking additional aid via FIPSE program HEERF funds, may now begin to apply for and receive those resources.

July 22, 2020

DHS Ordered to Review New DACA Applications →

A federal judge has ordered the Trump administration to begin accepting and reviewing new Deferred Action for Childhood Arrivals program applications, after a nearly three-year period in which new applications were not considered.