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 Minnesota's 2013 National Distinguished Principal!
Mari Lu Martens, Principal of Sibley East Elementary schools, was selected as Minnesota's 2013 National Distinguished Principal. The program honors principals who set the pace, character and quality of education children receive during their early school years -- and highlights the fundamental importance of the school principal in achieving educational excellence for pre-kindergarten through eighth grade students. “It is about doing things right, and doing the right things,” said Martens. .