Editor’s note from Laura Belin: The Governmental Accounting Standards Board and the Government Finance Officers Association now discourage use of the common acronym for this report, because when pronounced it sounds like a racial slur. Bleeding Heartland will avoid using the acronym in the future. Original post follows.
The state of Iowa missed a deadline for publishing a key report on its finances because Iowa State University was unable to provide the data on time.
Iowa’s public universities have typically submitted their financial information to the state by October 1, allowing the state to complete its Comprehensive Annual Financial Report (CAFR) by December 31. But ISU is more than four months behind schedule in submitting data for fiscal year 2020.
The delay stems from the university’s transition to a new accounting method using Workday software, raising concerns about the functionality of the computer system state government committed to in 2019.