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RVCC 2019 NECHE Self-Study

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inflows and deferred outflows related to those assets.<br />

Restricted - nonexpendable: Net assets subject to externally-imposed conditions that CCSNH must<br />

maintain them in perpetuity.<br />

Restricted - expendable: Net assets whose use is subject to externally-imposed conditions<br />

that can be fulfilled by the actions of CCSNH or by the passage of time.<br />

Unrestricted: All other categories of net position. Unrestricted net position may be designated<br />

by actions of the CCSNH's Board of Trustees.<br />

CCSNH has adopted a policy of generally utilizing restricted, expendable resources, when<br />

available, prior to unrestricted resources.<br />

Net Student Fees<br />

Student tuition, dining, residence, and other fees are presented net of scholarships applied to<br />

students’ accounts.<br />

Contributions<br />

Contributions are recorded at their fair value at the date of gift. Promises to donate to CCSNH are<br />

recorded as receivables and revenues when the CCSNH has met all applicable eligibility and time<br />

requirements. Contributions to be used for endowment purposes are categorized as restricted<br />

nonexpendable. Other gifts are categorized as currently expendable. Pledges receivable, which<br />

are included in other current assets in the statements of net position, are reported net of amounts<br />

deemed uncollectible and after discounting to the present value of the expected future cash flows.<br />

Because of uncertainties with regard to their realizability and valuation, bequests and other<br />

intentions to give and conditional promises are not recognized as assets until the specified<br />

conditions are met.<br />

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