The purpose of the Uniform Financial Accounting and Reporting Standards (UFARS) GASB 54 Subcommittee is to review the Governmental Accounting Standards Board (GASB) Statement 54, Fund Balance Reporting and Governmental Fund Type Definitions and propose necessary modifications to UFARS to implement the new accounting standard.
Effective for school district and charter school financial reporting for FY 2011 and later years, GASB 54 will require fund balances, which have traditionally been classified as reserved and unreserved, to be classified in one of five categories:
Meet the 2015 Science Mathematics Principal
John Garcia, principal of Cedar Park Science, Technology, Engineering and Mathematics (STEM) School in Apple Valley, has been named the 2015 Science and Mathematics Elementary and Middle Level Principal of the Year. Created through a partnership between the Science Museum of Minnesota and the Minnesota Elementary School Principals’ Association (MESPA), the award recognizes the importance of fostering lifelong science literacy and the key role principals play in developing a culture that encourages student interest in math and science.