Keeping Up With the Downturn: A Perspective from Accountants in Higher Ed

A very worthwhile look at the financial crisis from this perspective. It will help you better integrate your planning:

"For higher education institutions, the economic downturn, unlike any experienced for decades, has dramatically changed endowment investment holdings and credit arrangements. Severe declines in the stock market and turmoil in the credit markets require presidents, chief financial officers, controllers, planning and budgeting leaders, and governing boards to work together on near- and long-term financial solutions. This year's Higher Education Accounting Forum (HEAF) in Miami, April 26-28, provided new guidance to accounting and financial professionals looking to balance business as usual with recent epic events. Among the many meeting topics, the following were of special interest to attendees: international convergence, warning signs and responses to financial challenges, performance metrics, endowments, fair value guidance, and tax changes."

Read the rest here:

http://www.nacubo.org/Business_Officer_Magazine/Current_Issue/August_2009/Keeping_Up_With_the_Downturn.html

The Clock Is Ticking on GASB: Everything You Need To Know

A great, concise (long but it has to be) article from Business Officer by Sue Menditto:

Although actuaries and accountants are involved, the calculation mechanics are not the challenge. Rather, understanding the drivers of results and the options that make sense for your institution or system provides the real challenge. “This is not simply a choice of vanilla, chocolate, or strawberry,” says Steinberg. “There are 40 or 50 different ‘flavors’ for your institution, and the choice depends upon the context and your institution’s focus.” . . . Because people are the greatest resource in a service industry like higher education, decisions involving funding and benefit selections are extremely important and can become extremely public in a hurry. . . . Now is the time to work across your campus, system, or state to accurately and creatively address the standard’s requirements for reporting other postemployment benefits.

If you like this, you'll love learning that SCUP is offering CPEs for CPAs at its conference this summer. Thanks to great work by SCUP's Resource and Budget Planning Advisory Group, headed by Carol Rylee of the University of Delaware, as well as a huge effort by SCUP's professional development staff, all sessions at SCUP-43 in Montreal are available for CPE continuing education units for CPAs.