MICHIGAN PUBLIC COMMUNITY COLLEGES

MANUAL FOR UNIFORM FINANCIAL REPORTING MICHIGAN PUBLIC COMMUNITY COLLEGES 2001 Dr. Barbara Bolin MICHIGAN Department of Career Development Victor Office Center, 1st Floor 201 N. Washington Square Lansing, MICHIGAN 48913 517-241-4000 1-888-605-6722 (TTY) The MICHIGAN Department of Career Development is an equal opportunity employer/program. Auxiliary aids and services are available upon request to individuals with disabilities. MDCD-Manual for Uniform Reporting Printed July 2001 Total copies: 50 Total cost: $ Unit Cost: $ Approved July 16, 2001 TABLE OF CONTENTS Page PART 1 INTRODUCTION 1 - 2 PART 2 BASIC PRINCIPLES Principle 1 The New Reporting Model 3 - 4 Principle 2 Tuition and Fee Revenue 5 - 9 Principle 3 Nonexchange Transactions 10 17 Principle 4 Other Revenue and Expenses 18 20 Principle 5 Depreciation 21 22 Principle 6 Interdepartmental Transactions 23 Principle 7 Classifications of Revenues and Expenses 24 25 Principle 8 Balance Sheet 26 35 Principle 9 Management s Discussion and Analysis 36 37 Principle 10 Cash Flows 38 41 Principle 11 Segment Information 42 PART 3 TRANSITION TO GASB 34 AND 35 43 - 46 PART 4 EMERGING ISSUES 47 - 49 PART 5 ILLUSTRATIVE FINANCIAL STATEMENTS

2 Members of the Steering Committee: Todd Hurley Grand Rapids Community College Tom Vainner Jackson Community College Louise Anderson Kalamazoo Valley Community College

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