Higher Education Financial Advisory Committee

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Standard #	Title	Last Revised Date	Rescinded Date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
5	Capital Asset Reporting
6
7	Cash and Short Term Investments
8	Reporting Student Financial Aid and Scholarship Allowances
9	State Appropriations
10
11	Recording Internal Service Center Activity
12	College Work Study Programs
13	Financial Statement Disclosures
14	Reporting and Disclosure of Related Organizations
15
16
17	Financial Statement Presentation
18	Compensated Absences
19
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 B	Transfer Rule 2		10/12/06
Model C	Transfer Rule 3	10/09/08
Model D	Transfer Rule 4		10/12/06
Model E	Transfer Rule 5	10/09/08
Model F	CCHE Statewide Indirect Transfer Non-Exempt	10/07/15
Model G	Institution F & A (Indirect Cost) Transfer Non-Exempt		8/2015
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 O	Capital Construction Xfer of Cash Capitalization of CIP Non-Exempt		03/13/2013
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 T	Accounting for Capital Leases Non-Exempt		8/2015
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 ECON	Fee for Service Economic Development Non-Exempt		9/2011
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 YE4	Eliminate F&A (Indirect Cost) Revenue & Expenses Non-Exempt		6/12/2008
Model YE5	Eliminate Capital Assets Purchased in the Current Funds Non-Exempt	8/13/2015
Model YE6	Record Depreciation Expense Non-Exempt		8/2015
Model YE7	Record Compensated Absences Non-Exempt		8/2015
Model YE8	Record Revenues Pledged to Debt Non-Exempt		9/2011
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 YE11	Subfunds Non-Exempt		8/2015
STUDENT FINANCIAL AID
Model SFA1	State SFA - State College Workstudy Program (CWS) Non-Exempt		08/2015
Model SFA2	State SFA - Merit Based Grants (MBG) & Need Based Grants (NBG) Non-Exempt		08/2015
Model SFA3	State SFA - Loan Match (LNM) Non-Exempt	06/12/08
Model SFA4	State SFA - Colorado State Incentive Grants (SIG) Non-Exempt		08/2015
Model SFA5	State SFA - Nurses Training Grant (NTG) Non-Exempt		08/2015
Model SFA6	State SFA - Tuition Assistance Programs Non-Exempt		08/2015

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)