21.For financial reporting purposes, governmental health care entities, public school systems, other not-for-profit entities and public colleges and universities may be considered to be special-purpose entities.
22.Public higher education institutions typically report as special-purpose entities engaged in governmental and business-type activities or in governmental-type activities only.
23.Public higher education institutions that report as special-purpose entities engaged in business-type activities only are still required to prepare a Management's Discussion and Analysis.
24.Most public colleges and universities choose to report as general-purpose entities engaged in only business-type activities.
25.Public colleges and universities are required to report as special purpose entities engaged in both governmental- and business-type activities because they receive tax dollars and charge user fees.
26.Public colleges typically report as special-purpose entities engaged only in business-type activities.
27.Public colleges are never included as component units in the state CAFR.
28.Revenue sources for public colleges include tuition and fees and donations. All other income is reported as unrelated business income.
29.No public colleges have the power to issue debt; it must be issued by the state as general obligation debt.
30.GASB requirements for business-type activities of public colleges requires accrual of interest and amortization of debt discount and premium.