Colorado Higher Education Institutions'

Financial Advisory Committee (FAC)

GUIDEBOOK

Issued by the FAC to provide non-authoritative guidance on accounting and financial reporting issues of common interest to Colorado public higher education institutions.

GASB #33 Related Topics

• Accounting and Financial Reporting for Nonexchange Transactions  - Impact on Sponsored Programs (.pdf file) (DRAFT)

GASB #34/35 Related Topics

• Checklist of GASB #34/35 Changes to the Institutional Financial Statements (.doc file) (Updated 6/17/02)

• Notes to the Financial Statements - Example Language (.doc file) (Updated 8/20/02)

• Matrix to Reconcile Functional to Natural Classification of Expenditures (.xls file)
  This spreadsheet provides an example of the optional footnote reconciliation of functional to natural classification for expenses reported on the SRECNA. The footnote presentation would be the summary schedule. It is supported by a detail schedule that would not be included in the footnote and that can be, as is the case in this example, derived from the COFRS Extract C. The attached detail schedule uses the Period 1202 Preliminary Close balances and the activity reported may not be all-inclusive for all institutions.

 Debt Related Topics

• Accounting for Plant Fund Debt – Illustrative Example

• Early Extinguishment of Debt – Illustrative Example  

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Questions?

Vicki Nichol, Higher Education Fiscal Coordinator -  (303) 837-2150

E-Mail Address: vicki.nichol@cu.edu

Revised: February 26, 2008