Explores how public colleges are adapting to a new accounting procedure that gives many of them apparent deficits. (EV)

Describes how Drexel University has adopted provisions of a tough new financial reporting law aimed at corporations, with skeptics wondering if such steps are too excessive for colleges. (EV)

The Internal Revenue Service is finding that a number of colleges have failed to withhold proper amounts of tax from employees, evaded required payments of unrelated-business income tax, allowed students to avoid paying certain Social Security taxes, and allowed foreign students to avoid tax withholding on most income. (MSE)

A recent report of the National Association of College and University Business Officers finds that colleges must contain athletic budgets. However, this will require more accurate financial data than current accounting practices provide. Recommended reforms include more careful record keeping, more need-based aid instead of scholarships, and…

Despite 1992 federal law, most American colleges receiving gifts from foreign corporations, foundations, and nations have not reported them. Institutions cite ignorance of the law. Some gifts apparently were reported but not cited in the Education Department's registry of foreign gifts. Twenty-eight large foreign gifts, grants, and pledges to…

A new national survey of college fund raising practices suggests that colleges and universities are not following Council for Advancement and Support of Education (CASE) guidelines for campaign length and donation accounting. The voluntary standards seek to build uniformity and comparability in procedures, but many institutions continue to use…