Pro Formas for Universities and Community Colleges*

The Office of the State Auditor prepares the University and Community College pro forma financial statements and notes to the financial statements annually. These pro formas are prepared in an effort to help you better meet the challenges presented by the ever-expanding GAAP requirements that impact your financial reporting process and to provide for some consistency in reporting among the individual colleges.

Please note that the pro formas are designed to be a starting point … a suggestion for how disclosures can be prepared to meet GASB requirements. It is important to note, however, that these pro formas may not be all inclusive. The disclosures included are limited to only standard disclosures (what is normally encountered at a university / community college). They do NOT provide pro forma text for all GASB requirements. You will need to prepare the disclosures for any GASB requirements that apply to your university / college that are not addressed here.