Nonprofit Resources
Webcast for Higher Education: HEERF Update – Where are the “Gotchas”?
The American Rescue Plan Act of 2021 provided institutions of higher education (IHEs) with their third round of funding appropriated for the Higher Education Emergency Relief Fund (HEERF) to prevent, prepare for, and respond to the COVID-19 pandemic. Commonly referred to as HEERF III, this tranche provides approximately $40 billion to IHEs in the way of student and institutional aid. Closely following the release of HEERF II, IHEs will have more funds available to award to more students, yet incur more limitations on their use.
This webcast will review the lessons learned from the administration and audits of HEERF I and II and explore the potential impact on HEERF III. The factors that will be considered include revenue recognition, allowable expenditures, calculation of lost revenues, UG Compliance Supplement(s), Single Audit findings, and lessons learned in the marketplace.
Learning objectives:
- Apply professional accounting standards to HEERF funds received and expended
- Identify allowable expenditures of HEERF funding
- Consider restrictions on HEERF resources not contained in the Education Department guidance
- Explain audit requirements under Uniform Guidance
Thursday, July 15, 2021
1:00 – 2:00 p.m. EDT
Instructors:
Daniel M. Campbell, Partner and Higher Education Services Director
Ted R. Batson, Jr., Partner, Tax Counsel, and Professional Practice Leader – Tax
This webcast has already occurred. Please note that CPE credit is not available for recorded webcasts.
