Advisories
Stay current and compliant with guidance from NACUBO. Listed below under topic area headers and cross-listed when necessary, these advisories provide direction on a variety of complex topics.
Members Only
Unless otherwise noted, the advisories listed below are exclusive to NACUBO members. Login using your NACUBO credentials to gain access.
Accounting
- Defining an Operating Measure for Independent Colleges and Universities: AR 21-01
- Considers FASB ASU 2016-14 and revises guidance from 2011 and 2007
- Fiduciary Activities and Defined Contribution Plans: AR 20-01
- Clarifying implementation guide Q&As: 4.1, 4.2, 4.3, 4.5, and 4.6
- Composite Financial Index Ratios Post FASB ASU 2106-14: AR 19-05
- In light of Not-for-Profit financial reporting changes resulting from FASB ASU 2016-14, this Advisory maps out composite financial index ratio formula using new required terminology . The report also highlights information needed to properly compute each ratio and explains common calculation missteps.
- Financial Responsibility Standards: AR 19-04 (Available to Public)
- Guidance on the revised financial responsibility standards included in the September 2019 borrower defense rules
- Topic 606: Disclosures: AR 19-03
- Examples of the disclosures required by Topic 606
- Topic 606: Education and Residential Contracts: AR 19-02
- Guidance on FASB Topic 606 for recognizing and reporting education (tuition) and residential services (housing and dining) student contract revenue
- FASB ASC 606, Revenue From Contracts with Customers: Tuition Revenue: AR 19-01
- The Advisory guidance focuses on tuition agreements with students, but the concepts are equally applicable to all revenues from contract with customers (FASB ASC 606)
- Borrower Defense Advisory: AR 2018-05
- Documents changes to the Department of Education's Financial Responsibility Standards for Nonprofit Institutions as they apply to Obama-era borrower defense rules, especially having to do with triggering recalculations of an institution’s composite score
- Implementing FASB ASU 2016-14, Not-for-Profit Entities: AR 18-02
- Guidance for implementation of FASB ASU 2016-14
- Credit Quality Disclosures: AR 2011-02
- Sample disclosures to help independent institutions understand the ASU 2010-20, “Disclosures about the Credit Quality of Financing Receivables and Allowance for Credit Losses”
- Defining an Operating Measure for Independent Colleges and Universities: AR 2011-02
- Recommendations to independent colleges and universities on items that should be classified as operating and nonoperating
- Variable Uncommitted Cost Sharing: AR 2011-1
- Preferred industry practice for colleges and universities reporting research as a functional class of expenses
- Sarbanes-Oxley: AR 2003-03
- Recommendations on how institutions deal with issues raised by the Sarbanes-Oxley Act of 2002, such as auditor independence, corporate responsibility, enhanced financial disclosures, accountability, and certification of financial results
- Institutional Aid: Discounting: Public Institutions: AR 2000-05
- Defines scholarship allowances for purposes of accounting for and reporting revenues net of discounts for public institutions
- Expense Cross-Walk: Public Institutions: AR 2000-08
- Suggested natural and functional expense footnote disclosure for information reported on the statement of revenues, expenses, and changes in net assets
- Financial Responsibility: Title IV, Private Institutions: AR 1998-01
- Overview of financial responsibility standards at independent nonprofit institutions
- Financial Responsibility: Title IV, Public Institutions Exempt: AT 1998-02
- Overview of financial responsibility standards and public nonprofit institutions
- Institutional Aid: Discounting: Private Institutions: AR 1997-1
- Defines scholarship allowances for purposes of accounting for and reporting revenues net of discounts for private institutions
Accounting and Student Financial Services
- Borrower Defense Advisory: AR 2018-05
- Documents changes to the Department of Education’s Financial Responsibility Standards for Nonprofit Institutions as they apply to Obama-era borrower defense rules, especially having to do with triggering recalculations of an institution’s composite score
- Perkins Loan Program Close-Out Guidance: AR 2018-03
- Guidance on close-out of the Perkins Loan Program, with additional resources and an Excel workbook available here
- Financial Responsibility: Title IV, Private Institutions: AR 1998-01
- Overview of financial responsibility standards at independent nonprofit institutions
- Financial Responsibility: Title IV, Public Institutions Exempt: AT 1998-02
- Overview of financial responsibility standards and public nonprofit institutions
Privacy and Data Security
- FTC Regulations on Safeguarding Consumer Information: AR 2003-01
- Guidance for safeguarding consumer information as required by the Gramm-Leach-Bliley Act, with additional resources available here
Student Financial Services
- Best Practices for Student Financial Responsibility Agreements: AR 21-02
- FAQ Regarding Overpayments by International Students: AR 18-04
- FAQ regarding overpayments by international students and considerations in determining how to handle them
- Perkins Loan Program Close-Out Guidance: AR 2018-03
- Guidance on close-out of the Perkins Loan Program
- Establishing Student Account Policy Manuals: AR 2016-01
- Provides bursars and student accounts staff with a comprehensive outline of topics to consider when drafting policy and procedure manuals.
- Financial Responsibility: Title IV, Private Institutions: AR 1998-01
- Overview of financial responsibility standards at independent nonprofit institutions
- Financial Responsibility: Title IV, Public Institutions Exempt: AT 1998-02
- Overview of financial responsibility standards and public nonprofit institutions
Student Financial Services and Tax
- Guide to Form 1098-T Information Reporting: AR 18-06
- 1098-T guidance that consolidates and refreshes three previous advisory reports (2013-1, 2013-2, and 2014-1) into a comprehensive reference and road map for all aspects of 1098-T reporting
Tax
- Opportunity Zones: A Primer for Colleges and Universities: AR 20-02
- Explanation of how the opportunity zone program works and outlines the benefits available to institutions that invest in the program to support their local communities.
- Guide to Form 1098-T Information Reporting: AR 18-06
- 1098-T guidance that consolidates and refreshes three previous advisory reports (2013-1, 2013-2, and 2014-1) into a comprehensive reference and road map for all aspects of 1098-T reporting