The Department of Education (ED) on February 16 released planned revisions to the Higher Education Emergency Relief Fund (HEERF) quarterly reporting form for public comment in the Federal Register. The majority of the revisions to the form include adding data elements from the HEERF annual reporting form to the quarterly report. ED plans for implementation of the revised form prior to this year’s first quarter reporting deadline of April 10, 2022, using emergency clearance requested from the Office of Management and Budget (OMB.)
New Reporting Additions
While the current quarterly reporting form asks only for HEERF institutional portion expenditures by category of expense, the proposed quarterly form adds six questions from the annual report. The new questions are largely similar to the corresponding questions asked on the annual reporting form, including the table where institutions are asked to share the percentage of students who received emergency grants and how much students received in emergency grants by fund type and student type. A key difference between this new quarterly report question and the one on the annual report is that schools are asked to disaggregate only by credential level and not by enrollment or Pell Grant receipt status, as on the annual form.
The revised form also adds from the annual report to the quarterly report a question asking institutions if they designated HEERF program funds for a specific purpose or budget objective in future quarters. If they answer yes, institutions will need to complete a table broken down by HEERF funding tranche the amount they plan to spend in the 2022, 2023, and 2024 calendar years.
For institutions that used HEERF funding to replace lost revenue, the revised quarterly form adds a new table, again from the annual report, that requires institutions to break down those lost revenues by source and include the total amount used from each funding source for replacing lost revenue.
Time Burden Estimate
Notably, ED has increased the time burden estimate for institutions to complete the quarterly report from the original two estimated hours to complete the form per report, to five hours. The increase reflects the significant amount of additional reporting fields that ED has added to the form.
Public comments are due by March 14, 2022. NASFAA encourages schools to submit their comments through the process explained in the Federal Register notice. In addition, please submit any comments to NASFAA for consideration as NASFAA develops its public comments on behalf of its members. Keep track of all HEERF reporting requirements and other updates in Today’s News.
Publication Date: 2/24/2022