Summary of Statement No. 15

Statement No. 15
Governmental College and University Accounting and Financial Reporting Models
(Issued 10/91)


This Statement provides guidance on the accounting and financial reporting models to be used for governmental colleges and universities. Governmental colleges and universities should follow either the AICPA College Guide model or the Governmental model.

Unless otherwise specified, pronouncements of the GASB apply to financial reports of all state and local governmental entities, including public benefit corporations and authorities, public employee retirement systems, and governmental utilities, hospitals and other healthcare providers, colleges, and universities. Paragraph 3 discusses the applicability of this Statement.