GASB Requirement

Spring
2005
Resolution Number: 
07.01
Contact: 
Assigned to : 
Category: 
Consultation with the Chancellor's Office
Status: 
Completed

Whereas, The Governmental Accounting Standards Board (GASB) is scheduled to impose new fiscal reporting requirements on California community college districts beginning in 2007-08;

Whereas, The Community College League of California (CCLC) has issued an advisory with specific recommendations that include funding proposals prepared by a private investment firm; and

Whereas, Responses to the GASB requirements will have a significant effect on the provision of education in the California community colleges;


Resolved, That the Academic Senate for California Community Colleges communicate to local academic senates that the new GASB requirements mandate that retiree health benefit costs be reported on a community college district's books but do not require any specific funding plan;

Resolved, That the Academic Senate for California Community Colleges encourage community college districts to consider a variety of options for responding to the new GASB requirements including a continuation of the "pay as you go" model successfully used by many districts; and

Resolved, That the Academic Senate for California Community Colleges request the System Office to provide neutral information on the new GASB requirements that will assist districts in analyzing the educational impacts of different options. MSCDisposition:Consultation Council, Chancellor

Status Report: 

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