To: University Business Managers
From: David Blakemore, Director, Financial Reporting and Management Services
The University continues to apply Governmental Accounting Standards Board (GASB) Statement 51, “Accounting and Financial Reporting for Intangible Assets,” for the fiscal year ended June 30, 2012. The Statement provides guidance to capitalize certain intangible assets, including website development.
If your department expended $1,000,000 or greater in fiscal year 2012 on website development, please contact Keith Harris at 919-962-7008 or email@example.com no later than Monday, July 16, 2012.
Thank you in advance for your assistance.