The Higher Education Financial Advisory Committee (FAC) is made up of the System Controller of each of the ten Governing Boards, the Controller of the Auraria Higher Education Center (AHEC), and the Higher Education Fiscal Coordinator. The FAC is charged by the Governing Boards with:
- Setting accounting and reporting policies to achieve consistent and comparable reporting of financial information to the State central agencies,
- Addressing accounting issues that cross institutional and Board lines, and
- Implementing a coordinated response to State accounting inquiries and initiatives.
- CORE Higher Education Chart of Accounts
The Higher Education COA can be run on demand in InfoAdvantage
Higher Education COA as of 2-7-2024
- Accounting Standards
View the State of Colorado Higher Education Accounting Standards issued by the Office of the State Controller.
Higher Education Accounting Standard Number, Title and Last Revised Date Standard # Title Last Revised Date Rescinded Date 1
Basic Accounting and Reporting Structure 2
Tuition and Fee Accounting 3
Recording and Reporting of Indirect Cost (Facilities and Administrative Cost) Revenues of Sponsored Programs 4
Non-Exchange Transactions 5Capital Asset Reporting6
7Cash and Short Term Investments8
Reporting Student Financial Aid and Scholarship Allowances 9
State Appropriations 10
11Recording Internal Service Center Activity12College Work Study Programs13Financial Statement Disclosures14Reporting and Disclosure of Related Organizations15
16
17Financial Statement Presentation18Compensated Absences19
20
- Accounting Models
The accounting models have been developed by the and adopted by the FAC. They are intended to provide technical guidance as to how our Colorado public institutions will record transactions in the state accounting system. This consistency helps our data to be comparable for users of our accounting data in the state accounting system.
Higher Education Accounting Model List, Title and Last Revised Date Model Title Last Revised Date Deleted Date TRANSFERS Model A Transfer Rule 1 10/09/08 Model BTransfer Rule 210/12/06 Model C Transfer Rule 3 10/09/08 Model DTransfer Rule 410/12/06 Model E Transfer Rule 5 10/09/08 Model F CCHE Statewide Indirect Transfer Non-Exempt 10/07/15 Model GInstitution F & A (Indirect Cost) Transfer Non-Exempt8/2015 Model H AHEC Long Bill Transfer Non-Exempt 8/13/2015 Model I AHEC Non-Long Bill Transfers Non-Exempt 8/13/2015 Model J UCD Library Transfer Non-Exempt GENERAL Model K Internal Service Center Activity, Internal Customers Non-Exempt 8/13/2015 Model L Internal Service Center Activity, External Customers Non-Exempt 8/13/2015 Model M Administrative Service Recharges for General & Admin (G&A) Costs 10/07/2015 Model N Model OCapital Construction Xfer of Cash Capitalization of CIP Non-Exempt03/13/2013 Model P Insurance Recoveries - No Asset Impairment Non-Exempt 8/13/2015 Model Q Asset Impairment with Insurance Recoveries Non-Exempt 8/13/2015 Model R Acquisition and Capitalization Assets Non-Exempt 8/13/2015 Model S Disposal of Assets Non-Exempt 8/13/2015 Model TAccounting for Capital Leases Non-Exempt8/2015 Model U Model V Model W Model X Model Y Model Z Model COF Student Stipends Non-Exempt (COF) 8/13/2015 Model FFS Fee for Service Non-Exempt 8/13/2015 Model ECONFee for Service Economic Development Non-Exempt9/2011 QUARTERLY Model QTR1 Record Scholarship Allowance Non-Exempt 5/10/2016 YEAR END Model YE2 Record Restricted Expendable/Nonexpendable Net Assets Non-Exempt 7/31/2023 Model YE3 Record Capital Assets Net of Debt Non-Exempt 8/13/2015 Model YE4Eliminate F&A (Indirect Cost) Revenue & Expenses Non-Exempt6/12/2008 Model YE5 Eliminate Capital Assets Purchased in the Current Funds Non-Exempt 8/13/2015 Model YE6Record Depreciation Expense Non-Exempt8/2015 Model YE7Record Compensated Absences Non-Exempt8/2015 Model YE8Record Revenues Pledged to Debt Non-Exempt9/2011 Model YE9 Record Restricted Cash & Cash Equivalents and Restricted Investments 8/13/2015 Model YE10 Eliminate Designated Enterprise Internal Service Activity Non-Exempt 5/17/2016 Eliminate Retirement of Indebtedness Fund Additions & Deduction in Plant Model YE11Subfunds Non-Exempt8/2015 STUDENT FINANCIAL AID Model SFA1State SFA - State College Workstudy Program (CWS) Non-Exempt08/2015 Model SFA2State SFA - Merit Based Grants (MBG) & Need Based Grants (NBG) Non-Exempt08/2015 Model SFA3 State SFA - Loan Match (LNM) Non-Exempt 06/12/08 Model SFA4State SFA - Colorado State Incentive Grants (SIG) Non-Exempt08/2015 Model SFA5State SFA - Nurses Training Grant (NTG) Non-Exempt08/2015 Model SFA6State SFA - Tuition Assistance Programs Non-Exempt08/2015
- Accounting Guidance
- Donations Revenue Source Code Matrix (Revised March 2002)
- Auxiliary Sales Matrix 3-2008 (Revised April 2008)
- Grants and Contracts Revenue Source Code Matrix (Revised March 2005)
- Reporting Internal Sales (Revised March 2011)
- Use of Fund 399 (Revised June 2012)