April 16, 1999

Accounting Board Proposes Revisions for Public Colleges

By KIT LIVELY

In a major shift, the Governmental Accounting Standards Board has proposed creating financial-reporting guidelines for public colleges that will make them more like those of private colleges.

College business officers and others who use the financial reports, such as taxpayers, bond raters, and insurers, have argued that the two sectors should be treated alike, as they were until 1993.

The standards

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