Summarizes highlights of the Government Accounting Standards Board's proposed standard for college and university accounting, known as GASB 35. Topics addressed include enterprise fund financial statements, reporting of state appropriations, segment reporting, effective dates, and infrastructure assets. (MSE)

The Immigration Reform and Control Act of 1986 makes it unlawful to employ an alien who is unauthorized to work in the United States. This article explains the extensive requirements of that legislation and sets out a method to bring school systems into compliance. (MLF)

The most recent tax law creates stiffer rules forcing donors to document their charitable gifts in exchange for offering charities relief from the 1986 Alternative Minimum Tax law. For colleges and universities, who already follow relatively stringent receipt rules, the new regulation is a free and valuable benefit. (MSE)

New guidelines to provide more flexibility and certainty in meeting federal time distribution recordkeeping requirements for U.S. Department of Education programs are outlined in this document. Directed to state, local and Indian tribal governments, the new guidelines are expected to avoid audit appeals and disputes, freeing teachers and…

Federal regulations governing receipts from fund-raising events at colleges and universities are summarized, including rules concerning tax deductions for raffle tickets, how and when to acknowledge donor gifts (cash or non-cash), and disclosure of fair market value. (MSE)

Planning for and implementing the Financial Accounting and Standards Board's Statement of Financial Accounting Standards for nonpension retirement benefits gives colleges and universities an opportunity to assess and revise their retiree health benefit plans. However, assessment of the current plan, objectives of changes, projected impact, and…

A discussion of federal regulations concerning completion of Immigration and Naturalization Service Form I-9 (to verify a potential employee's legal status) looks at the current state of the law and offers college and university personnel administrators practical suggestions for implementing it consistently. Reevaluation of institutional policies,…

This article examines problems inherent in current federal criteria for estimating special education graduation and dropout rates. Proposed changes in reporting categories are presented. Exiting data included in reports by the Office of Special Education Programs may overestimate dropout rates and not be comparable to data reported by other…

Identifies federal reporting obligations that govern school districts' human resources management in the following areas: (1) Internal Revenue Service filing requirements; (2) Fair Labor Standards Act recordkeeping; (3) Equal Employment Opportunity Commission reporting; and (4) Family and Medical Leave Act recordkeeping. (MLF)

Discusses changes in the accounting requirements for nonprofit organizations resulting from the implementation of two Statements of Financial Accounting Standards issued by the Financial Accounting Standards Board. Examines changes in recording transactions, ascertaining the correct way to record donations or unconditional promises for donations,…

New federal regulations concerning direct cost accounting for college and university research projects are explained. It is concluded that the new standard allows institutions to reduce the signatures required on cost transfers and use reasonable cost allocation methods to simplify distribution of direct costs when research is supported by…

This manual contains information about the selection and implementation of a meal counting and claiming system for the National School Lunch Program (NSLP) and the School Breakfast Program (BSP). Federal reimbursement is provided for each meal that meets program requirements and is served to an eligible student. Part 1 explains the six elements of…

The objectives and content of the Internal Revenue Service (IRS) proposed comprehensive guidelines for conducting audits of tax-exempt organizations are outlined, and feedback received from higher education institutions concerning those guidelines are summarized. Comments reflect institutions' concerns about the IRS' lack of understanding of…

To avoid embarrassment and financial cost of incurring cost disallowances on federally-sponsored projects, college and university administrators must pay particular attention to these management areas: compensation (release time, overload, and others); costs (allowable, attributable, transfers, and others); consulting; certification of time and…

Lawmakers say that the Higher Education Amendments of 1998 will reduce regulatory burden, bring costs down, and broaden access to higher education. Features of the law are explained, including student aid programs and delivery provisions, student-loan program changes, and college reporting requirements. Miscellaneous other provisions are…