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To:    University Business Managers

From:  David Blakemore, Director, Financial Reporting and Management Services

Date:  June 23, 2010

The University is required to implement Governmental Accounting Standards Board (GASB) Statement 51, Accounting and Financial Reporting for Intangible Assets, for the fiscal year ending June 30, 2010. The Statement requires certain intangible assets, including website development, to be classified as capital assets.

If your department expended $100,000 or greater in fiscal year 2010 on website development please contact Keith Harris at 919-962-7008 or no later than Wednesday, June 30, 2010. Thank you in advance for your assistance.

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