Higher Education

Tuesday, 07 July 2015

Best Practice for Audit Committees

Written by Lisa VanDeWeert, CPA

Higher education institutions today are faced with many challenges – economic pressures, constant technology changes and cybersecurity threats, and constant regulations requirement changes. With so much risk and responsibility, the importance of have a strong audit committee is key. A report published by The Center for Audit Quality (CAQ) and The Institute of Internal Auditors (The IIA) sought to explore the value of audit committees. To view the report, click here...

Published in Higher Education
Tuesday, 06 January 2015

Higher Education Industry Update - January 2015

Written by Rehmann Team

A number of trends in higher education will continue to make their mark in 2015. Rehmann has looked at some these trends and is pleased to offer an update on the accounting and tax topics impacting the industry. ContentsTopics and Trends to WatchAccounting UpdateTax UpdateSponsored Content Topics and Trends to Watch President Obama signs the Tax Increase Prevention Act (TIPA) of 2014In a flurry of year-end activity, Congress approved the Tax Increase Prevention Act of 2014 (HR 5771) and on December 19, President Obama signed the bill. The new law extends so-called "tax extenders" retroactively for one year (through 2014)...

Published in Higher Education
Tuesday, 20 May 2014

Higher Education Industry Update - May 2014

Written by Rehmann Team

A number of trends in higher education will continue to make their mark in 2014. Rehmann has looked at some these trends and is pleased to offer an update on the accounting and tax topics impacting the industry.ContentsTopics and Trends to Watch Accounting UpdateFederal Awards UpdateTax Update Topics and Trends to Watch In-class or Online? The use of technology has driven significant increases in the number of online classes available to college students over the past five years...

Published in Higher Education
Wednesday, 15 January 2014

Higher Education Industry Update - January 2014

Written by Rehmann Team

A number of trends in higher education will continue to make their mark in 2014. Rehmann has taken a look at some these trends and is pleased to start off your new year with an update on the accounting and tax topics impacting the industry.ContentsTopics and Trends to Watch Accounting UpdateFederal Awards UpdateYear-End Tax Filing Requirements Topics and Trends to Watch As we surveyed the higher education landscape both in the year(s) just past and those that lie ahead, certain trends and news items appeared more notable than others. They include: Enrollment decreasesContinual increasing enrollment in 2007–2012 came to a halt in the spring of 2013 with an average 2...

Published in Higher Education
Wednesday, 29 May 2013

Higher Education Industry Update - May 2013

Written by Rehmann Team

At Rehmann, we believe the experience you have working with us is as important as the services we provide. That's why we are constantly learning, honing our skills and sharing valuable insights with our clients to help you navigate today's ever-changing business world.ContentsHot TopicsAccounting UpdateFederal Awards UpdateTax Update Hot Topics   FY 2013 - 2014 University Funding (as passed by the Senate) Performance funding amounts were added to original appropriation if certain requirements were met Overall appropriation plus performance funding increase 1.7 percent Community Colleges Approximately seven percent of community colleges in US offer residence halls, with the number growing Significant effort made to consider every detail of construction in order to cap cost at an affordable level Managing with Less: Continued Reaction to State Funding Shortfalls Initially cut costs and implemented operating efficiencies New ideas: grow revenue by other means and boost funding Private sector and research partnerships Faculty pursue external funding or creative business pursuits Out-of-state tuition increases Philanthropic activities Connecting with the community Sequestration and its Impact on Higher Education Pell Grant protected for one year from any cuts Expect cuts in all other student aid programs primarily from the 'fair share portion' in FY 2013 - 2014 Research grants – many research budgets at NIH, NSF, NIFA and Dept...

Published in Higher Education
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