The purpose of the Uniform Financial Accounting and Reporting Standards (UFARS) GASB 54 Subcommittee is to review the Governmental Accounting Standards Board (GASB) Statement 54, Fund Balance Reporting and Governmental Fund Type Definitions and propose necessary modifications to UFARS to implement the new accounting standard.
Effective for school district and charter school financial reporting for FY 2011 and later years, GASB 54 will require fund balances, which have traditionally been classified as reserved and unreserved, to be classified in one of five categories:
Regional Leadership Summits Filling Up Fast!
Aligning systems, through postsecondary partnerships, for student success. You are invited to assemble a secondary or postsecondary team to deepen our common understandings of newly-enacted legislation and to explore opportunities for new or expanded partnerships between our E-12 and postsecondary systems that will better prepare our continuum of learners to be career and college-ready. Spots still available in Brainerd and Rochester! An additional summit is being hosted in Marshall on Jan. 15th. Register by Jan. 10. If you registered for Rochester summit and want to switch to Marshall location, contact Jessica Espinosa.