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Post-GASB 35

During FY2002, the University adopted GASB Statement No. 35, Basic Financial Statements—and Management’s Discussion and Analysis—for Public Colleges and Universities, as amended by GASB Statements No. 37 and 38, and applied those standards on a retroactive basis. Some of the changes made to implement GASB No. 35 included:

In addition, the University’s resources are classified for accounting and reporting purposes into the following four net asset categories:

Thus, amounts reported in years prior to FY2002 may not be comparable to those reported in FY2002 and beyond. In addition, certain amounts were reclassified between FY2002 and FY2003 to conform to FY2003 presentation. This means that amounts reported in FY2002 and FY2003 may not be comparable.