CPAs and Advisors with Your Growth in Mind

College Faculty Salaries See Slight Gains

Despite full-time college faculty members’ salaries increasing two percent this academic year, inflation tells another story. When factoring in inflation to data from the American Association of University Professors’ (“AAUP”) latest compensation report, faculty salaries nearly remained the same from last year. The AAUP’s findings also reflect the CUPA-HR’s recent report, which says median faculty salaries jumped approximately 1.7 percent this year without inflation factored in. Results from the American Association of University Professors Faculty Compensation Survey are available on the Inside Higher Ed website. For guidance with your institution’s tax and accounting needs, check out Cherry Bekaert’s Education industry group .

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Senate Working to Increase Federal Grants and Contracts for HBCUs

A new bill receiving unanimous Senate approval aims to help historically black colleges and universities (“HBCUs”) secure more federal grants and contracts. The HBCU Propelling Agency Relationships Toward a New Era of Results for Students (HBCU PARTNERS Act) requires applicable agencies to present to Congress their annual plans for supporting the capacity of HBCUs to take part in federal grants, contracts or cooperative agreements. Another Senate-backed effort seeking to give HBCU funding is the reauthorization of the HBCU Historic Preservation Program. This bill would permit grant funding to repair deteriorating historic buildings at HBCUs and bring buildings up to code. Read More.

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Tuition Revenue Recognition Guidance Issued

The National Association of College and University Business Officers (“NACUBO”) has released a new advisory using tuition to illustrate guidance under Accounting Standards Codification (“ASC”) Topic 606, Revenue From Contracts With Customers. Accounting Advisory 19-01, FASB ASC 606, Revenue From Contracts with Customers: Tuition Revenue, states that a student’s signed financial responsibility agreement authorizes a college or university to consideration, in exchange for promised services, on the date payment is due. The advisory also explains various terms and requirements, including performance obligations, portfolio approach and contract liabilities. More on this Accounting Advisory is available on the NACUBO website.

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Provosts Survey Covers Impact of Me Too Movement on Campuses

This year’s Inside Higher Ed Survey of Chief Academic Officers marks the first time the survey features questions concerning the Me Too movement. The 2019 edition reflects answers from 475 provosts and chief academic officers while they face pressure to address harassment issues on college campuses. Some survey’s highlights include: 46 percent of provosts reported having at least one faculty member facing harassment allegations in the past year. 69 percent of provosts agree that higher education has tolerated harassment by faculty members for far too long. Click here for more on the 2019 Inside Higher Ed Survey of Chief Academic Officers.

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Education Department Reconsidering State Authorization Rule Changes

For the third time in a decade, Department of Education officials are attempting to change the state authorization regulations for distance learning. Department officials want to simplify the rules for online programs operating in multiple states. Earlier in January, officials proposed eliminating Obama-era rules that required institutions with online programs to show they are authorized to operate in each state with enrolled students who receive federal financial aid. Scrapping the rules falls in line with the Trump administration’s deregulation agenda, but recent talks with the distance learning and educational innovation subcommittee ended with department officials walking back the proposal to remove the. Read More.

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Retirees Secure Housing Spots at Arizona State

A new housing complex set to open at Arizona State University next year will include a surprising group of college students. Senior citizens have reserved their spots at the on-campus housing that will serve as a retirement community with a college twist. Residents will be free to enroll in classes, use campus facilities, and mentor younger students. Arizona State’s housing complex catering to senior citizens reflects a rising trend of privately-owned, on-campus retirement communities. More on Arizona State’s retirement community is available on the Inside Higher Ed website.

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