By Karen McCarthy, NASFAA Policy & Federal Relations Staff
The Department of Education (ED) has released supplemental reporting requirements for certain institutions that apply for Higher Education Emergency Relief Fund (HEERF) funding under Section 18004(a)(3) of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. ED had previously retracted its initial formula allocation and methodology for this funding, which represents 2.5% of total HEERF funding and is designated for institutions that ED determines have the greatest unmet needs due to coronavirus.
On July 24, ED posted new formula allocations and its methodology (listed under Higher Education Emergency Relief Fund-FIPSE). To apply for 18004(a)(3) funding, institutions must complete the previously released Certificate and Agreement by Aug. 1, 2020. As announced in the Federal Register, ED is requiring, by Aug. 30, 2020, a completed Budget and Expenditure Reporting form for any institution applying for 18004(a)(3) funding that falls into any of the following categories:
Subject to Heightened Cash Monitoring (that is, HCM1, HCM2, or reimbursement) as of June 1, 2020;
Slated to receive a Section 18004(a)(3) award of $400,000 or more;
Slated to receive an award that is larger than its Title IV aid in the prior year; or
Reports full-time equivalent enrollment of 100 or fewer students.
ED has notified presidents of potentially-eligible institutions that fall into one or more of these categories of the reporting requirements.
The letter to presidents states that ED will use the information provided on the Budget and Expenditure Reporting form, if required, to verify eligibility and the amount of funding. The notice does not provide further details on the funding methodology that ED will use to determine funding allocations.
Publication Date: 7/22/2020
Mike L | 7/24/2020 9:26:03 AM
Lois M | 7/22/2020 1:15:05 PM
I have searched on IFAP and on the USDE site for the Budget and Expenditure Reporting Form. Where can I find it?
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