This article describes expanded audit requirements for managing federal awards to colleges and universities, as outlined in Circular A-133 of the Office of Management and Budget. Applying lessons learned by state and local governments in implementing A-128 audits is recommended to help assure a successful, cost-effective transition. (MSE)

Yale University's on-line examination of accounting and administrative systems is discussed. Program goals are to review financial management systems at the university to identify weaknesses in internal controls, and to fulfill all audit requirements of federal grants and contracts. After outlining the quarterly audit cycle, advantages of the…

The approach of adopting depreciation rather than use allowance in order to recover more accurately the cost of college buildings and equipment used on federal projects is considered. It is suggested that depreciation will offer most colleges and universities a higher annual recovery rate, and an opportunity for better facilities planning. For…

The first two stages of the financial audit required by federal Circular A-133, for nonprofit institutions receiving $100,000 or more in federal funding and cost-type contracts, as implemented by the University of Southern California, are described. Audit observations, issues emerging from the experience, and recommendations for other colleges and…

This article discusses the implications of recently adopted U.S. Cost Accounting Standards (CAS) that apply to educational institutions that contract with or receive grants from the federal government. It focuses on the disclosure requirements that colleges and universities must follow to comply with CAS. (MDM)

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…

Implications for colleges and universities of a proposed new audit guide for Office of Management and the Budget (OMB) Circular A-110 are considered. The Department of Health and Human Services (HHS) is considering issuance of an audit guide that will outline procedures to be followed to comply with the audit requirement in Circular A-110. With…

The extent to which the Reagan Administration has achieved its deregulation goals in the area of higher education is addressed in three articles: "Deregulation and Higher Education: The View a Year Later" (Sheldon Elliot Steinbach); "Student Financial Aid Deregulation: Rhetoric or Reality?" (Robin E. Jenkins); and…

Recent litigation under section 504 of the Rehabilitation Act of 1973 and unresolved issues in the application of section 504 to colleges and universities are examined. Section 504 is a federal statute expressing a national commitment to end discrimination against individuals on the basis of handicap. Three issues that currently confound efficient…

A number of current issues and initiatives in higher education are highlighted, including impending reauthorization of the Higher Education Act, the need for advocacy of higher education in public policy arenas, a University of Florida program combining accountability and institutional autonomy, and institutional compliance with nonresident alien…