Finance | Standards Michigan

Finance

Appropriate use of public funding underlies some -- but not all -- of the accounting burden of the education industry. For the time being, we steer clear of the grant management requirements public funding agencies place upon the education industry; maintain focus on consensus products developed by organizations that have a due process platform.

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Finance

July 31, 2020
mike@standardsmichigan.com
,

The Italian Luca Pacioli, recognized as The Father of accounting and bookkeeping was the first person to publish a work on double-entry bookkeeping, and introduced the field in Italy.

We walk through action in financial standards that affect the education facilities industry once per month; with special attention to the way money flows into physical infrastructure.   About $75 billion is in play for new construction; often financed through bond offerings.   Another ~$225 billion is in play just to operate and manage the physical infrastructure.  Three hundred billion is about the size of Denmark’s entire economy and would make the wildly fragmented education facility industry a Fortune #3 Company.

Every dollar passing through the business or academic side of the education industry has rules for how it is received and tracked.*   At the moment we track, but do not dwell. on the grant management standards asserted by state and federal funding agencies.  When we do, we place them on the agenda of our Federal Regulations monthly teleconference when commenting opportunities are available.

Send bella@standardsmichigan.com an email for a detailed advance agenda.  To join the teleconference at 11 AM ET today click on the login credentials at the upper right of our home page.

*Electronic Code of Federal Regulations


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