ITEM 122-108-R0104����������������� Modify Policy 901.10 Retirement Costs Revolving Account Montana University System

 

EXPLANATION:����������������������� In the Financial-Compliance Audit for the Board of Regents and Office of the Commissioner of Higher Education (OCHE) for the two fiscal years ended June 30, 2003, the auditors recommended a change to this policy.� The Office of the Commissioner of Higher Education does not account for its funds using the College and University Business Administration (CUBA) fund structure.� Therefore, the accounting terms �Designated Subfund� and �General Operating Subfund� are not� appropriate accounting choices for OCHE.�