Financial reporting entity

As defined by generally accepted accounting principles, the University plus all organizations that meet the following criteria: 1. organizations for which the University is financially accountable (equivalent to control by the University as an entity or its Regents or Officers); 2. a legally separate, tax-exempt organization: whose economic resources are entirely or almost entirely for the direct benefit of the University's financial reporting entity or its constituents, where the University has the ability to access (broader than control and is demonstrated by the ability not the occurrence in a given year) a majority of its economic resources, and such economic resources are Material to the University; 3. organizations for which the nature and significance is such that exclusion would be misleading to the University's financial statements; or 4. organizations closely related to or financially integrated with the University as exhibited through policies, practices or organizational documents of either entity.