Mar 1, 2023 · Heerf FAQ; 1 : Can institutions correct or make changes to the HEERF annual report that was submitted last year? Yes, from March 6, 2023, to March 24, 2023, institutions may make any changes to data reported in their HEERF Year 2 annual report through the ESF reporting tool"/>
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Heerf lost revenue faq

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By ED’s guidance also included a new Frequently Asked Questions document that addresses lost revenue specifically as one of the allowable uses of all HEERF.
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This is identical to HEERF I and II.
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. . . lost revenue, reimbursement for expenses already incurred; technology costs associated with a transition to distance education; faculty and staff trainings; payroll; carry out student support activities authorized by the HEA that address needs related to coronavirus; make additional financial aid grants to students; Frequently Asked Questions. 13, 2020, the start of the national emergency. Answer: Sources of lost revenue that are not reimbursable under the HEERF grant programs include the following: Capital outlays associated with facilities. The Department has taken a generous approach to the use of funds for lost revenue under the institutional portion of HEERF by: Defining lost revenue and expenses related to coronavirus. . . Mar 13, 2020 · An IHE may estimate lost revenue for the period from March 13, 2020 to the end of its HEERF grant performance period, which the LR FAQs note is generally a year from the date of the most recent HEERF grant award, and any no-cost extensions of up to 12 months received. . A targeted follow-up audit will be conducted in FY22 regarding UTD’s Lost Revenue methodology to ensure compliance with the HEERF Lost Revenue FAQ once university management finalizes their procedures. View a PDF version of the HEERF II report: Quarter Ending June 30. Lost revenue is a reimbursable expense under the institutional portion of HEERF. As such, lost revenue estimates are acceptable. . Dec 27, 2020 · This AskRegs Knowledgebase Q&A was updated on May 12, 2021 to include guidance in the May 11, 2021 Higher Education Emergency Relief Fund (HEERF) III Frequently Asked Questions, as it relates to leftover HEERF I grants under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), HEERF II grants under the 2021 Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA. . . . Cares Act HEERF Home. e. . . The lost revenue guidance also applies to any unexpended CARES funds (HEERF I) and to HEERF III funds from the American Rescue Plan Act (ARP. May 24, 2021 · The Department of Education (ED) released guidance clarifying that colleges and universities can claim lost revenue against their HEERF grants. . Since it can only be estimated, calculating it can be challenging. . 25 billion of the $30. Lost revenue is a reimbursable expense under the institutional portion of HEERF. The Department of Education has released an allocation table and additional regulatory guidance in an FAQ document about the largest infusion of Higher Education Emergency Relief Fund (HEERF) aid to date—$36 billion—as passed by Congress in the American Rescue Plan Act (ARPA). . . The lost revenue guidance also applies to any unexpended CARES funds (HEERF I) and to HEERF III funds from the American Rescue Plan Act (ARP. January 5,. . . Eligible expenses, including lost revenue, can date back to 03/13/2020. OMB Control Number 1840-0849 Expires 3/31/2024. Importantly for private, nonprofit colleges and universities, the guidance expanded flexibility related to lost revenue and expenses. Eligible expenses, including lost revenue, can date back to 03/13/2020. . The lost revenue guidance also applies to any unexpended CARES funds (HEERF I) and to HEERF III funds from the American Rescue Plan Act (ARP. HEERF program allocations cannot be used for endowments, athletic or religious facilities, and enrollment recruitment activities such as marketing and advertising or to compensate recruitment contractors. Question: Does an institution need to assign specific costs or expenses once it has charged its HEERF grant award for. However, there has not been ample guidance on what is defined as “lost revenue" and how it can be calculated - until now. . Additionally,. 10. May 27, 2021 · Q: Can the lost revenue be for FY21 only or can it be used in FY22? A: ED clarified on March 19, 2021 that institutions can apply HEERF II funds back to lost revenue beginning March 13, 2020 (previously the date was Dec. There are specific examples that can be found in FAQ #26. Since it can only be estimated, calculating it can be challenging. The guidance includes a change in ED's position on the allowable timeframe for institutions to charge costs, including lost revenue, to HEERF grants. The total amount of lost revenues which can be applied towards PRF payments is $60,500,000. . Mar 19, 2021 · A: All remaining HEERF funds, regardless of distributing programs, are now compiled under HEERF III rules. Mar 19, 2021 · A: All remaining HEERF funds, regardless of distributing programs, are now compiled under HEERF III rules. • If the lost revenue is directly attributable to a cause other than the COVID-19 pandemic • The institution may not include those lost revenues in its estimation of its lost revenue for the HEERF grant programs › An institution may charge lost revenue to its grant at the end of the period that it is using to estimate lost revenue. The guidance includes a change in ED's position on the allowable timeframe for institutions to charge costs, including lost revenue, to HEERF grants. . . . Replacing lost revenue due to reduced enrollment. . . Mar 1, 2023 · If funds were used to discharge account balances as lost revenue using institutional funds without affirmative written consent, report in 9c(2021)/9b(2022) as unpaid student accounts receivable or other student account debts. . For details and engagement methodology, please see the attached report. A targeted follow-up audit will be conducted in FY22 regarding UTD’s Lost Revenue methodology to ensure compliance with the HEERF Lost Revenue FAQ once university management finalizes their procedures. ED states in the HEERF III FAQ, question 39, institutions can request a maximum 12-month extension, allowing the funds to extend into FY23. HEERF Lost Revenue FAQs(March 19, 2021) for more information regarding what may be appropriately included in anestimate of lost revenue. Preparing for change. . Colleges will be permitted to use HEERF grant funds to reimburse themselves for institutional lost revenue and expenses incurred as far back as Mar. . Apr 9, 2020 · CARES Act HEERF Round 3 FAQs (Issued October 14, 2020 and revised November 20, 2020) CARES Act HEERF Supplemental FAQs (Issued June 30, 2020 and revised September 08, 2020) CARES Act HEERF Student FAQs (Issued May 15, 2020) CARES Act HEERF Emergency Financial Aid Grants to Students under Section 18004(a)(1) and 18004(c) FAQs (Issued April 9, 2020). As explained in the Lost Revenue FAQ published by ED on March 19, 2021, lost revenue is expected revenue that was reduced or eliminated as a result of the COVID-19 pandemic. . Please note that funds for (a)(l) Institutional Portion may be used.
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. . . Our intent is to update this page to clarify additional questions and respond to input as issues arise. As explained in the Lost Revenue FAQ published by ED on March 19, 2021, lost revenue is expected revenue that was reduced or eliminated as a result of the COVID-19 pandemic. . Allowing a broad array of categories to be covered. . . The Department will award these grants to institutions of higher education (IHE) basic on an formula stipulated in the legislation. The lost revenue guidance also applies to any unexpended CARES funds (HEERF I) and to HEERF III funds from the American Rescue Plan Act (ARP. Replacing lost revenue from auxiliary services sources (i. 3 Please see the Department’s HEERF Lost Revenue FAQs (March 19, 2021) for more information regarding what may be appropriately included in an estimate of lost revenue. The Department of Education has released an allocation table and additional regulatory guidance in an FAQ document about the largest infusion of Higher Education Emergency Relief Fund (HEERF) aid to date—$36 billion—as passed by Congress in the American Rescue Plan Act (ARPA).

Guidance on Lost Revenue The Department has taken a generous approach to the use of funds for lost revenue under the institutional portion of HEERF. For instance, lost. lost revenue, reimbursement for expenses already incurred; technology costs associated with a transition to distance education; faculty and staff trainings; payroll; carry out student support activities authorized by the HEA that address needs related to coronavirus; make additional financial aid grants to students; Frequently Asked Questions. They could apply that lost revenue to the Higher Education Emergency Relief Fund (HEERF) 1.

The lost revenue guidance also applies to any unexpended CARES funds (HEERF I) and to HEERF III funds from the American Rescue Plan Act (ARP. Since it can only be estimated, calculating it can be challenging.

. Report Date: July 10, 2021. . Replacing lost revenue from auxiliary services sources (i. S. Sep 30, 2021 · Please see the Department's HEERF Lost Revenue FAQs (March 19, 2021) for more information regarding what may be appropriately included in an estimate of lost revenue. . When may an institutions charge lost revenue to its HEERF grant award? An institution may charge lost revenue to its grant at the end of the period that it is using to estimate lost.

,cancelled ancillary events; disruption of food service, dorms, childcare or other facilities; cancellation of use of campus venues by other organizations, lost parking revenue, etc. . . . The lost revenue guidance also applies to any unexpended CARES funds (HEERF I) and to HEERF III funds from the American Rescue Plan Act (ARP. , HEERF II funds can be retroactively charged back to.

).

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Lost revenue is a reimbursable expense under the institutional portion of HEERF.

. As explained in the Lost Revenue FAQ published by ED on March 19, 2021, lost revenue is expected revenue that was reduced or eliminated as a result of the COVID-19 pandemic. . Answer: Sources of lost revenue that are not reimbursable under the HEERF grant programs include the following: Capital outlays associated with facilities. .

A: The March 19 guidance overrides previous guidance, making clear that expenses and lost revenue related to coronavirus apply back to the declaration of the national emergency on March 13, 2020.
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.

. . The Department of Education (ED) released guidance clarifying that colleges and universities can claim lost revenue against their HEERF grants.

released by ED on March 19 provides additional clarifying information on this type of grant related expenditure.
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Sep 30, 2021 · Please see the Department's HEERF Lost Revenue FAQs (March 19, 2021) for more information regarding what may be appropriately included in an estimate of lost revenue.

gov). • If the lost revenue is directly attributable to a cause other than the COVID-19 pandemic • The institution may not include those lost revenues in its estimation of its lost revenue for the HEERF grant programs › An institution may charge lost revenue to its grant at the end of the period that it is using to estimate lost revenue.

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Guidance on Lost Revenue The Department has taken a generous approach to the use of funds for lost revenue under the institutional portion of HEERF.

Department of Education (ED) released much-awaited information in a document. .

When may an institutions charge lost revenue to its HEERF grant award? An institution may charge lost revenue to its grant at the end of the period that it is using to estimate lost.
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. . Importantly for private, nonprofit colleges and universities, the guidance expanded flexibility related to lost revenue and expenses. March 12, 2023.

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. More information about the guidance can be found in the Notice of Interpretation, Lost Revenue FAQs, and updates to existing FAQs. ED’s guidance also included a new Frequently Asked Questions document that addresses lost revenue specifically as one of the allowable uses of all HEERF. A: The March 19 guidance overrides previous guidance, making clear that expenses and lost revenue related to coronavirus apply back to the declaration of the national emergency on March 13, 2020. Oct 16, 2021 · 3.

As explained in the Lost Revenue FAQ published by ED on March 19, 2021,.
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.

Logically, this makes sense, as the HEERF grants weren’t intended to cover expenditures which would have been incurred regardless of the pandemic. The Department of Education (ED) released guidance clarifying that colleges and universities can claim lost revenue against their HEERF grants. The department’s.

lost revenue, reimbursement for expenses already incurred; technology costs associated with a transition to distance education; faculty and staff trainings; payroll; carry out student support activities authorized by the HEA that address needs related to coronavirus; make additional financial aid grants to students; Frequently Asked Questions.
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OMB Control Number 1840-0849 Expires 3/31/2024.

Thoughts on ED’s New Guidance on Revenue-Share Arrangements and Third-Party Servicers.

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The Department desires award which grants to institutions of taller education (IHE) based on a formula stipulated in the legislation.

. . . 25 billion are the $30.

When the provider comes in to report in Reporting Period 3 (RP3), if the provider did not already apply the entire $60M to payments in Reporting Period 1 and 2 (RP1; RP2), the provider will be able to apply the remaining unreimbursed lost revenues.
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The Department continues to use the same definitions and references the same cost guidance.

institutional or student portion of the HEERF distributions. Mar 26, 2021 · This guidance updates and overrides the guidance from January 14, 2020. January 5,. ).

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gov). When may an institutions charge lost revenue to its HEERF grant award? An institution may charge lost revenue to its grant at the end of the period that it is using to estimate lost. e.

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The lost revenue guidance also applies to any unexpended CARES funds (HEERF I) and to HEERF III funds from the American Rescue Plan Act (ARP.

HEERF III grants last a year, with the grant window extended to May. . If an unallowable expense is “replaced” by unreimbursed lost revenues for use of funds purposes, the Reporting Entity should ensure that the lost revenues reported in subsequent reports are deducted to avoid “double. This new set of FAQs responds to the large number of questions the Department has received from HEERF grantees regarding how institutions may calculate and account for the amount of lost revenue they incurred as a result of COVID-19. Mar 1, 2023 · Heerf FAQ; 1 : Can institutions correct or make changes to the HEERF annual report that was submitted last year? Yes, from March 6, 2023, to March 24, 2023, institutions may make any changes to data reported in their HEERF Year 2 annual report through the ESF reporting tool.

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Cares Act HEERF Home.

. . • CARES Act HEERF Round 3 FAQs (October 2, 2020) • CARES Act HEERF Supplemental FAQs (Issued June 30, 2020 and Revised September 8, 2020) •. Lost revenue is a reimbursable expense under the institutional portion of HEERF.

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Additionally,.

released by ED on March 19 provides additional clarifying information on this type of grant related expenditure. Please note that funds for (a)(1) Institutional Portion may. . The lost revenue guidance also applies to any unexpended CARES funds (HEERF I) and to HEERF III funds from the American Rescue Plan Act (ARP.

.

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Heerf FAQ; 1 : Can institutions correct or make changes to the HEERF annual report that was submitted last year? Yes, from March 6, 2023, to March 24, 2023,.

lost revenue, reimbursement for expenses already incurred; technology costs associated with a transition to distance education; faculty and staff trainings; payroll; carry out student support activities authorized by the HEA that address needs related to coronavirus; make additional financial aid grants to students; Frequently Asked Questions. lost revenue FAQ.

• If the lost revenue is directly attributable to a cause other than the COVID-19 pandemic • The institution may not include those lost revenues in its estimation of its lost revenue for the HEERF grant programs › An institution may charge lost revenue to its grant at the end of the period that it is using to estimate lost revenue.
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Importantly for private, nonprofit colleges and universities, the guidance expanded flexibility related to lost revenue and expenses.

. Please note that funds for (a)(1) Institutional Portion may. .

Sep 30, 2021 · 3 Please see the Department’s HEERF Lost Revenue FAQs (March 19, 2021) for more information regarding what may be appropriately included in an estimate of lost revenue.
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10.

regarding lost revenue (issued October 14, 2020 and revised January 28, 2021).

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A targeted follow-up audit will be conducted in FY22 regarding UTD’s Lost Revenue methodology to ensure compliance with the HEERF Lost Revenue FAQ once university management finalizes their procedures.

. This was a significant change in the Department’s stance on the matter c oupled with the revision to retroactively apply the CRRSA A changes to. Aug 17, 2021 · 3. HEERF Lost Revenue FAQs(March 19, 2021) for more information regarding what may be appropriately included in anestimate of lost revenue.

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. These FAQs contain conforming updates to allow for. 10. As such, lost revenue estimates are acceptable. released by ED on March 19 provides additional clarifying information on this type of grant related expenditure. .

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Mar 31, 2023 · Please see the Department’s HEERF Lost Revenue FAQs (March 19, 2021) for more information regarding what may be appropriately included in an estimate of lost revenue.

On March 19, 2021, the Department. Q: Can the lost revenue be for FY21 only or can it be used in FY22? A: ED clarified on March 19, 2021 that institutions can apply HEERF II funds back to lost revenue beginning March 13, 2020 (previously the.

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. . . PR/Award Number (s): P425F203346-20A. Replacing lost revenue due to reduced enrollment. .

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View a PDF version of the HEERF II report: Quarter Ending March 31.

e. 75 billion allotted to the Education Equalization Fund through the CARES Act for the Higher Education Emergency Relief Fund (HEERF).

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HEERF program allocations cannot be used for endowments, athletic or religious facilities, and enrollment recruitment activities such as marketing and advertising or to compensate recruitment contractors.

3.

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Mar 19, 2021 · A: All remaining HEERF funds, regardless of distributing programs, are now compiled under HEERF III rules.

HEERF program allocations cannot be used for endowments, athletic or religious facilities, and enrollment recruitment activities such as marketing and advertising or to compensate recruitment contractors.

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,cancelled ancillary events; disruption of food service, dorms, childcare or other facilities; cancellation of use of campus venues by other organizations, lost parking revenue, etc.

. 13, 2020, the start of the national emergency. regarding lost revenue (issued October 14, 2020 and revised January 28, 2021). .

• If the lost revenue is directly attributable to a cause other than the COVID-19 pandemic • The institution may not include those lost revenues in its estimation of its lost revenue for the HEERF grant programs › An institution may charge lost revenue to its grant at the end of the period that it is using to estimate lost revenue.
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Lost revenue is a reimbursable expense under the institutional portion of HEERF.

Replacing lost revenue due to reduced enrollment. .

As explained in the Lost Revenue FAQ published by ED on March 19, 2021, lost revenue is expected revenue that was reduced or eliminated as a result of the COVID-19 pandemic.
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10.

The guidance includes a change in ED's position on the allowable timeframe for institutions to charge costs, including lost revenue, to HEERF grants. • CARES Act HEERF Round 3 FAQs (October 2, 2020) • CARES Act HEERF Supplemental FAQs (Issued June 30, 2020 and Revised September 8, 2020) •. Congress set aside approximately $14. The department’s goal was to allow greater flexibility in the use of HEERF funds and allow institutions to better meet student needs. 13, 2020, the start of the national emergency. Guidance on Lost Revenue The Department has taken a generous approach to the use of funds for lost revenue under the institutional portion of HEERF.

lost revenue, reimbursement for expenses already incurred; technology costs associated with a transition to distance education; faculty and staff trainings; payroll; carry out student support activities authorized by the HEA that address needs related to coronavirus; make additional financial aid grants to students; Frequently Asked Questions.
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A.

. Mar 19, 2021 · A: All remaining HEERF funds, regardless of distributing programs, are now compiled under HEERF III rules. The HEERF III FAQ provides examples to satisfy the additional HEERF III requirements and confirms that specific thresholds or amounts have not been prescribed, but should be considered to be reasonable. . HEERF III grants last a year, with the grant window extended to May 2022 for all HEERF awards.

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. 0 funds. Importantly for private, nonprofit colleges and universities, the guidance expanded flexibility related to lost revenue and expenses.

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› An institution may only estimate lost revenue “associated with coronavirus” as specified by CRRSAA section 314(c)(1) • If the lost revenue is directly attributable to a cause other than the COVID-19 pandemic • The institution may not include those lost revenues in its estimation of its lost revenue for the HEERF grant programs.

The HEERF III FAQ provides examples to satisfy the additional HEERF III requirements and confirms that specific thresholds or amounts have not been prescribed, but should be considered to be reasonable. 3.

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.

HEERF Lost Revenue FAQs(March 19, 2021) for more information regarding what may be appropriately included in anestimate of lost revenue. 3. Department of Education (ED) released much-awaited information in a document. . 4 Please post additional documentation as appropriate and briefly explainin the “Explanatory Notes” section.

Last Modified: 07/08/2020.
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View a PDF version of the HEERF II report: Quarter Ending March 31.

HEERF FAQ Rollup Document. .

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Do higher education institutions have any requirements under Internal Revenue Code section 6041 to report information on Form 1099-MISC for emergency financial aid grants awarded to students under section 3504, 18004, or 18008 of the CARES Act, or otherwise in response to the COVID-19 pandemic (including under other.

4 Please post additional documentation as appropriate and briefly explain in the “Explanatory Notes” section. . . . .

lost revenue, reimbursement for expenses already incurred; technology costs associated with a transition to distance education; faculty and staff trainings; payroll; carry out student support activities authorized by the HEA that address needs related to coronavirus; make additional financial aid grants to students; Frequently Asked Questions.
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HEERF program allocations cannot be used for endowments, athletic or religious facilities, and enrollment recruitment activities such as marketing and advertising or to compensate recruitment contractors.

Replacing lost revenue from auxiliary services sources (i. ED specifies that the following previously-issued guidance applies in whole or in part to HEERF III, unless superseded by the text of the American Rescue Plan: Lost Revenue FAQs (issued on March 19, 2021).

Mar 13, 2020 · An IHE may estimate lost revenue for the period from March 13, 2020 to the end of its HEERF grant performance period, which the LR FAQs note is generally a year from the date of the most recent HEERF grant award, and any no-cost extensions of up to 12 months received.

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Importantly for private, nonprofit colleges and universities, the guidance expanded flexibility related to lost revenue and expenses.

. . 75 billion allotted to the Education Motion Fund through that CARES Act for that Higher Education Emergency Relief Fund (HEERF). .

Mar 19, 2021 · The following Frequently Asked Questions (FAQs) and Examples of Calculating HEERF Lost Revenue chart address the concept and scope of reimbursing, calculating, and reporting for lost revenue under the HEERF grant programs.
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. , HEERF II funds can be retroactively charged back to. .

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The CRRSAA legislation that was passed last December expanded the ability for proprietary institutions to be able to use HEERF monies to defray expenses associated with lost revenues.

. This date applies to HEERF II and forthcoming HEERF III institutional funds, and to any unused CARES Act (HEERF I) funds. 27, 2020), and this applies to both the student and institutional portions.

Please note that funds for (a)(1) Institutional Portion may.
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4 Please post additional documentation as appropriate and briefly explain in the “Explanatory Notes” section.

HEERF III grants last a year, with the grant window extended to May 2022 for all HEERF awards. OMB Control Number 1840-0849 Expires 3/31/2024. HEERF program allocations cannot be used for endowments, athletic or religious facilities, and enrollment recruitment activities such as marketing and advertising or to compensate recruitment contractors. e.

ED specifies that the following previously-issued guidance applies in whole or in part to HEERF III, unless superseded by the text of the American Rescue Plan: Lost Revenue FAQs (issued on March 19, 2021).
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If my school has unexpended CARES HEERF funds as of 12/27/2020, can those funds be spent using the CRRSAA flexibilities for payment periods before 12/27/2020 (the date the Act.

. Due to the cumulative nature of lost revenues, any lost revenues adjustments may be made in subsequent reporting periods. Lost revenue is a reimbursable expense under the institutional portion of HEERF. .

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.

. . As explained in the Lost Revenue FAQ published by ED on March 19, 2021, lost revenue is expected revenue that was reduced or eliminated as a result of the COVID-19 pandemic. Since it can only be estimated, calculating it can be challenging. Importantly for private, nonprofit colleges and universities, the guidance expanded flexibility related to lost revenue and expenses.

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Dec 27, 2020 · This AskRegs Knowledgebase Q&A was updated on May 12, 2021 to include guidance in the May 11, 2021 Higher Education Emergency Relief Fund (HEERF) III Frequently Asked Questions, as it relates to leftover HEERF I grants under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), HEERF II grants under the 2021 Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA.

Institutions may discharge student debt or unpaid balances as lost revenue and reimburse themselves through their HEERF. As explained in the Lost Revenue FAQ published by ED on March 19, 2021,. . Sep 30, 2021 · 3 Please see the Department’s HEERF Lost Revenue FAQs (March 19, 2021) for more information regarding what may be appropriately included in an estimate of lost revenue.

Lost revenue is a reimbursable expense under the institutional portion of HEERF.
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Q: Can the lost revenue be for FY21 only or can it be used in FY22? A: ED clarified on March 19, 2021 that institutions can apply HEERF II funds back to lost revenue beginning March 13, 2020 (previously the. Institution Name: University of Nevada, Reno. Question: What changes did Congress make to the HEERF programs in ARP (HEERF III) that are different from the HEERF programs in CRRSAA (HEERF II)?.

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. Do higher education institutions have any requirements under Internal Revenue Code section 6041 to report information on Form 1099-MISC for emergency financial aid grants awarded to students under section 3504, 18004, or 18008 of the CARES Act, or otherwise in response to the COVID-19 pandemic (including under other.

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Question: What changes did Congress make to the HEERF programs in ARP (HEERF III) that are different from the HEERF programs in CRRSAA (HEERF II)?.

Lost revenue is a reimbursable expense under the institutional portion of HEERF. S. . . . Thoughts on ED’s New Guidance on Revenue-Share Arrangements and Third-Party Servicers. .

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The Department desires award which grants to institutions of taller education (IHE) based on a formula stipulated in the legislation.

Final Report: Yes. Lost revenue is a reimbursable expense under the institutional portion of HEERF.

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.

e. e. .

lost revenue, reimbursement for expenses already incurred; technology costs associated with a transition to distance education; faculty and staff trainings; payroll;.
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When may an institutions charge lost revenue to its HEERF grant award? An institution may charge lost revenue to its grant at the end of the period that it is using to estimate lost.

There are specific examples that can be found in FAQ #26. Replacing lost revenue from auxiliary services sources (i. Logically, this makes sense, as the HEERF grants weren’t intended to cover expenditures which would have been incurred regardless of the pandemic.

For institutions which received HEERF grants under section 18004(a)(1), ED was very clear that lost revenue is not an allowable usage of the funds.
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This new set of FAQs responds to the large number of questions the Department has received from HEERF grantees regarding how. 3 Please see the Department’s HEERF Lost Revenue FAQs (March 19, 2021) for more information regarding what may be appropriately included in an estimate of lost revenue.

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Overview Questions 1.

. Overview Questions 1.

› An institution may only estimate lost revenue “associated with coronavirus” as specified by CRRSAA section 314(c)(1) • If the lost revenue is directly attributable to a cause other than the COVID-19 pandemic • The institution may not include those lost revenues in its estimation of its lost revenue for the HEERF grant programs.
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released by ED on March 19 provides additional clarifying information on this type of grant related expenditure.

Importantly for private, nonprofit colleges and universities, the guidance expanded flexibility related to lost revenue and expenses.

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Additionally,.

Report Date: July 10, 2021. This is identical to HEERF I and II. Our intent is to update this page to clarify additional questions and respond to input as issues arise. . The lost revenue guidance also applies to any unexpended CARES funds (HEERF I) and to HEERF III funds from the American Rescue Plan Act (ARP.

View a PDF version of the HEERF II report: Quarter Ending June 30.
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Mar 1, 2023 · Heerf FAQ; 1 : Can institutions correct or make changes to the HEERF annual report that was submitted last year? Yes, from March 6, 2023, to March 24, 2023, institutions may make any changes to data reported in their HEERF Year 2 annual report through the ESF reporting tool.

. . . . . . . Yes.

If my school has unexpended CARES HEERF funds as of 12/27/2020, can those funds be spent using the CRRSAA flexibilities for payment periods before 12/27/2020 (the date the Act.
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Cares Act HEERF Home.

. . Institutions may discharge student debt or unpaid balances as lost revenue and reimburse themselves through their HEERF. › An institution may only estimate lost revenue “associated with coronavirus” as specified by CRRSAA section 314(c)(1) • If the lost revenue is directly attributable to a cause other than the COVID-19 pandemic • The institution may not include those lost revenues in its estimation of its lost revenue for the HEERF grant programs.

9 Please see the Department’s HEERF Lost Revenue FAQs (March 19, 2021) for more information regarding what may be appropriately included in an estimate of lost revenue.
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.

A targeted follow-up audit will be conducted in FY22 regarding UTD’s Lost Revenue methodology to ensure compliance with the HEERF Lost Revenue FAQ once university management finalizes their procedures. Part c – addresses the types of lost revenue amounts claimed; the total amounts by category must agree to the lost revenue amount indicated in the “replacing lost. Q. The lost revenue guidance also applies to any unexpended CARES funds (HEERF I) and to HEERF III funds from the American Rescue Plan Act (ARP.

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The department’s goal was to allow greater flexibility in the use of HEERF funds and allow institutions to better meet student needs.

The department’s goal was to allow greater flexibility in the use of HEERF funds and allow institutions to better meet student needs. Guidance on Lost Revenue The Department has taken a generous approach to the use of funds for lost revenue under the institutional portion of HEERF. .

In Fall 2021, $5,361,236 of that total amount was used to erase tuition and fee balances for degree-seeking students from Spring, Summer, and Fall 2020 semesters.
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HEERF Lost Revenue FAQs(March 19, 2021) for more information regarding what may be appropriately included in anestimate of lost revenue.

Since it can only be estimated, calculating it can be challenging. • HEERF Lost Revenue FAQs. g. Question 11.

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Aug 17, 2021 · 3.

. As explained in the Lost Revenue FAQ published by ED on March 19, 2021, lost revenue is expected revenue that was reduced or eliminated as a result of the COVID-19 pandemic.

Since it can only be estimated, calculating it can be challenging.
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When may an institutions charge lost revenue to its HEERF grant award? An institution may charge lost revenue to its grant at the end of the period that it is using to estimate lost.

. , cancelled ancillary events; disruption of food service, dorms, childcare, or other facilities; cancellation of use of campus venues by other organizations, lost parking revenue, etc.

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Final Report: Yes.

. A: The March 19 guidance overrides previous guidance, making clear that expenses and lost revenue related to coronavirus apply back to the declaration of the national emergency on March 13, 2020.

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0 or HEERF 2. . Has the definition of lost revenue, the types of permissible costs or the excluded costs changed at all under HEERF III? No. When may an institutions charge lost revenue to its HEERF grant award? An institution may charge lost revenue to its grant at the end of the period that it is using to estimate lost. .

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Additionally,.

As explained in the Lost Revenue FAQ published by ED on March 19, 2021, lost revenue is expected revenue that was reduced or eliminated as a result of the COVID-19 pandemic. Congress set aside approximately $14. As explained in the Lost Revenue FAQ published by ED on March 19, 2021, lost revenue is expected revenue that was reduced or eliminated as a result of the COVID-19 pandemic. Aug 31, 2020 · Lost revenue refers to revenues an institution expected to receive but reduced or eliminated due to COVID-19. Please note that funds for (a)(1) Institutional Portion may. Question: What changes did Congress make to the HEERF programs in ARP (HEERF III) that are different from the HEERF programs in CRRSAA (HEERF II)?. .

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The CRRSAA legislation that was passed last December expanded the ability for proprietary institutions to be able to use HEERF monies to defray expenses associated with lost revenues.

. ). .

The Department desires award which grants to institutions of taller education (IHE) based on a formula stipulated in the legislation.
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FAQ #10 (LOST REVENUE): Are there special considerations for how my institution documents and charges “lost revenue” to our HEERF awards? These links from the Department of Education are helpful: HEERF I, II, and III – Lost Revenue FAQs, and 2) HEERF Update Letter (e. Mar 26, 2021 · This guidance updates and overrides the guidance from January 14, 2020. This is identical to HEERF I and II. As explained in the Lost Revenue FAQ published by ED on March 19, 2021, lost revenue is expected revenue that was reduced or eliminated as a result of the COVID-19 pandemic. . .

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As explained in the Lost Revenue FAQ published by ED on March 19, 2021, lost revenue is expected revenue that was reduced or eliminated as a result of the COVID-19 pandemic.

Do higher education institutions have any requirements under Internal Revenue Code section 6041 to report information on Form 1099-MISC for emergency financial aid grants awarded to students under section 3504, 18004, or 18008 of the CARES Act, or otherwise in response to the COVID-19 pandemic (including under other. Has the definition of lost revenue, the types of permissible costs or the excluded costs changed at all under HEERF III? No. gov).

.

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. When may an institutions charge lost revenue to its HEERF grant award? An institution may charge lost revenue to its grant at the end of the period that it is using to estimate lost. The guidance includes a change in ED's position on the allowable timeframe for institutions to charge costs, including lost revenue, to HEERF grants. Lost revenue is a reimbursable expense under the institutional portion of HEERF.

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. Has the definition of lost revenue, the types of permissible costs or the excluded costs changed at all under HEERF III? No.

Allowing a broad array of categories to be covered.
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Let us help you with your Higher Education Institution's Emergency Relief Fund (HEERF) reporting for monies and lost revenue.

, cancelled ancillary events; disruption of food service, dorms, childcare, or other facilities; cancellation of use of campus venues by other organizations, lost parking revenue, etc. Please note that funds for (a)(1) Institutional Portion may.

• If the lost revenue is directly attributable to a cause other than the COVID-19 pandemic • The institution may not include those lost revenues in its estimation of its lost revenue for the HEERF grant programs › An institution may charge lost revenue to its grant at the end of the period that it is using to estimate lost revenue.
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Aug 31, 2020 · Lost revenue refers to revenues an institution expected to receive but reduced or eliminated due to COVID-19.

Aug 31, 2020 · Lost revenue refers to revenues an institution expected to receive but reduced or eliminated due to COVID-19.

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Lost revenue is a reimbursable expense under the institutional portion of HEERF.

Lost revenue is a reimbursable expense under the institutional portion of HEERF. Sep 30, 2021 · 3 Please see the Department’s HEERF Lost Revenue FAQs (March 19, 2021) for more information regarding what may be appropriately included in an estimate of lost revenue.

ED’s FAQ document states in question 43 that if the recipient experiences lost revenues, the institution will need to provide documentation detailing the year-over-year decrease due to either.
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. Additionally,. lost revenue FAQ. .

Mar 26, 2021 · This guidance updates and overrides the guidance from January 14, 2020.
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View a PDF version of the HEERF II report: Quarter Ending March 31.

Mar 13, 2020 · An IHE may estimate lost revenue for the period from March 13, 2020 to the end of its HEERF grant performance period, which the LR FAQs note is generally a year from the date of the most recent HEERF grant award, and any no-cost extensions of up to 12 months received. . Mar 26, 2021 · This guidance updates and overrides the guidance from January 14, 2020. • If the lost revenue is directly attributable to a cause other than the COVID-19 pandemic • The institution may not include those lost revenues in its estimation of its lost revenue for the HEERF grant programs › An institution may charge lost revenue to its grant at the end of the period that it is using to estimate lost revenue.

Mar 19, 2021 · A: All remaining HEERF funds, regardless of distributing programs, are now compiled under HEERF III rules.
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As explained in the Lost Revenue FAQ published by ED on March 19, 2021, lost revenue is expected revenue that was reduced or eliminated as a result of the COVID-19 pandemic. Updated: 03/01/2023 : Category: #Institutional Uses of Funds : 11. HEERF program allocations cannot be used for endowments, athletic or religious facilities, and enrollment recruitment activities such as marketing and advertising or to compensate recruitment contractors.

ED clarifies in its FAQ document that lost revenue may be charged to the institution's HEERF grant at the end of the period that it is using to estimate lost revenue.
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When may an institutions charge lost revenue to its HEERF grant award? An institution may charge lost revenue to its grant at the end of the period that it is using to estimate lost.

HEERF III grants last a year, with the grant window extended to May 2022 for all HEERF awards. .

Aug 31, 2020 · Lost revenue refers to revenues an institution expected to receive but reduced or eliminated due to COVID-19.
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0 or HEERF 2. This was a significant change in the Department’s stance on the matter c oupled with the revision to retroactively apply the CRRSA A changes to.

View a PDF version of the HEERF II report: Quarter Ending June 30.
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FAQ #10 (LOST REVENUE): Are there special considerations for how my institution documents and charges “lost revenue” to our HEERF awards? These links from the Department of Education are helpful: HEERF I, II, and III – Lost Revenue FAQs, and 2) HEERF Update Letter (e.

When may an institutions charge lost revenue to its HEERF grant award? An institution may charge lost revenue to its grant at the end of the period that it is using to estimate lost.

If my school has unexpended CARES HEERF funds as of 12/27/2020, can those funds be spent using the CRRSAA flexibilities for payment periods before 12/27/2020 (the date the Act.
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Q6. . As such, lost revenue estimates are acceptable.

4 Please post additional documentation as appropriate and briefly explain in the “Explanatory Notes” section.
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4 Please post additional documentation as appropriate and briefly explainin the “Explanatory Notes” section.

, cancelled ancillary events; disruption of food service, dorms, childcare, or other facilities; cancellation of use of campus venues by other organizations, lost parking revenue, etc. FAQ #10 (LOST REVENUE): Are there special considerations for how my institution documents and charges “lost revenue” to our HEERF awards? These links. Mar 26, 2021 · This guidance updates and overrides the guidance from January 14, 2020. Oct 16, 2021 · 3. Congress set aside approximately $14.

The lost revenue guidance also applies to any unexpended CARES funds (HEERF I) and to HEERF III funds from the American Rescue Plan Act (ARP.
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gov). HEERF@ed. As explained in the Lost Revenue FAQ published by ED on March 19, 2021, lost revenue is expected revenue that was reduced or eliminated as a result of the COVID-19 pandemic. Congress set aside approximately $14. • HEERF Lost Revenue FAQs. May 24, 2021 · The Department of Education (ED) released guidance clarifying that colleges and universities can claim lost revenue against their HEERF grants.

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Oct 16, 2021 · 3.

As explained in the Lost Revenue FAQ published by ED on March 19, 2021, lost revenue is expected revenue that was reduced or eliminated as a result of the COVID-19 pandemic.
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The department’s.

. . lost revenue, reimbursement for expenses already incurred; technology costs associated with a transition to distance education; faculty and staff trainings; payroll; carry out student support activities authorized by the HEA that address needs related to coronavirus; make additional financial aid grants to students; Frequently Asked Questions. As such, lost revenue estimates are acceptable.

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As such, lost revenue estimates are acceptable.

lost revenue FAQ. .

institutional or student portion of the HEERF distributions.
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,cancelled ancillary events; disruption of food service, dorms, childcare or other facilities; cancellation of use of campus venues by other organizations, lost parking revenue, etc.

. Additionally,. 4 Please post additional documentation as appropriate and briefly explainin the “Explanatory Notes” section.

For details and engagement methodology, please see the attached report.
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HEERF FAQ Rollup Document. When the provider comes in to report in Reporting Period 3 (RP3), if the provider did not already apply the entire $60M to payments in Reporting Period 1 and 2 (RP1; RP2), the provider will be able to apply the remaining unreimbursed lost revenues.

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10.

Additionally,. Last Modified: 07/08/2020.

Do higher education institutions have any requirements under Internal Revenue Code section 6041 to report information on Form 1099-MISC for emergency financial aid grants awarded to students under section 3504, 18004, or 18008 of the CARES Act, or otherwise in response to the COVID-19 pandemic (including under other.
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May 27, 2021 · Q: Can the lost revenue be for FY21 only or can it be used in FY22? A: ED clarified on March 19, 2021 that institutions can apply HEERF II funds back to lost revenue beginning March 13, 2020 (previously the date was Dec. This new set of FAQs responds to the large number of questions the Department has received from HEERF grantees regarding how. 4 Please post additional documentation as appropriate and briefly explain in the “Explanatory Notes” section.

HEERF III grants last a year, with the grant window extended to May.
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Part c – addresses the types of lost revenue amounts claimed; the total amounts by category must agree to the lost revenue amount indicated in the “replacing lost.

25 billionth of the $30. The table makes clear which portion of the allocation. .

Mar 26, 2021 · This guidance updates and overrides the guidance from January 14, 2020.
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Please note that funds for (a)(1) Institutional Portion may.

The Department continues to use the same definitions and references the same cost guidance. Report Date: July 10, 2021.

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g. . Heerf FAQ; 1 : Can institutions correct or make changes to the HEERF annual report that was submitted last year? Yes, from March 6, 2023, to March 24, 2023,.

Let us help you with your Higher Education Institution's Emergency Relief Fund (HEERF) reporting for monies and lost revenue.
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4 Please post additional documentation as appropriate and briefly explain in the “Explanatory Notes” section.

. institution will pay using the amount of lost revenue since. .

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ED’s guidance also included a new Frequently Asked Questions document that addresses lost revenue specifically as one of the allowable uses of all HEERF.

e. 3. The department’s goal was to allow greater flexibility in the use of HEERF funds and allow institutions to better meet student needs. e. Additionally,.

Department of Education (ED) released much-awaited information in a document.
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Mar 26, 2021 · This guidance updates and overrides the guidance from January 14, 2020. . .

Jul 8, 2020 · The purpose of this page is to provide answers to the most frequent questions we have received from applicants thus far.
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Lost revenue is a reimbursable expense under the institutional portion of HEERF.

OMB Control Number 1840-0849 Expires 3/31/2024. . .

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HEERF Lost Revenue FAQs(March 19, 2021) for more information regarding what may be appropriately included in anestimate of lost revenue.

Cares Act HEERF Home.

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On March 19, 2021, the Department.

The lost revenue guidance also applies to any unexpended CARES funds (HEERF I) and to HEERF III funds from the American Rescue Plan Act (ARP. . HEERF program allocations cannot be used for endowments, athletic or religious facilities, and enrollment recruitment activities such as marketing and advertising or to compensate recruitment contractors. Since it can only be estimated, calculating it can be challenging.

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Has the definition of lost revenue, the types of permissible costs or the excluded costs changed at all under HEERF III? No. If my school has unexpended CARES HEERF funds as of 12/27/2020, can those funds be spent using the CRRSAA flexibilities for payment periods before 12/27/2020 (the date the Act.

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This is identical to HEERF I and II.

As explained in the Lost Revenue FAQ published by ED on March 19, 2021,. If my school has unexpended CARES HEERF funds as of 12/27/2020, can those funds be spent using the CRRSAA flexibilities for payment periods before 12/27/2020 (the date the Act. . Since it can only be estimated, calculating it can be challenging. Mar 13, 2020 · An IHE may estimate lost revenue for the period from March 13, 2020 to the end of its HEERF grant performance period, which the LR FAQs note is generally a year from the date of the most recent HEERF grant award, and any no-cost extensions of up to 12 months received.

75 billions allocate to the Education Mobility Fund through the WORRIES Act for the Taller Education Emergency Relief Investment (HEERF).
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The Department has taken a generous approach to the use of funds for lost revenue under the institutional portion of HEERF by: Defining lost revenue and expenses related to coronavirus.

Mar 26, 2021 · This guidance updates and overrides the guidance from January 14, 2020. The $7,169,430 designated for institutional support from HEERF III was intended to assist the university in covering expenses related to lost revenues associated with the pandemic.

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Apr 9, 2020 · CARES Act HEERF Round 3 FAQs (Issued October 14, 2020 and revised November 20, 2020) CARES Act HEERF Supplemental FAQs (Issued June 30, 2020 and revised September 08, 2020) CARES Act HEERF Student FAQs (Issued May 15, 2020) CARES Act HEERF Emergency Financial Aid Grants to Students under Section 18004(a)(1) and 18004(c) FAQs (Issued April 9, 2020). HEERF program allocations cannot be used for endowments, athletic or religious facilities, and enrollment recruitment activities such as marketing and advertising or to compensate recruitment contractors. . 4 Please post additional documentation as appropriate and briefly explainin the “Explanatory Notes” section. Mar 19, 2021 · The following Frequently Asked Questions (FAQs) and Examples of Calculating HEERF Lost Revenue chart address the concept and scope of reimbursing, calculating, and reporting for lost revenue under the HEERF grant programs. If an unallowable expense is “replaced” by unreimbursed lost revenues for use of funds purposes, the Reporting Entity should ensure that the lost revenues reported in subsequent reports are deducted to avoid “double.

Jun 30, 2021 · HEERF Lost Revenue FAQs(March 19, 2021) for more information regarding what may be appropriately included in an estimate of lost revenue.
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The lost revenue guidance also applies to any unexpended CARES funds (HEERF I) and to HEERF III funds from the American Rescue Plan Act (ARP.

If my school has unexpended CARES HEERF funds as of 12/27/2020, can those funds be spent using the CRRSAA flexibilities for payment periods before 12/27/2020 (the date the Act. Question: What changes did Congress make to the HEERF programs in ARP (HEERF III) that are different from the HEERF programs in CRRSAA (HEERF II)?.

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lost revenue, reimbursement for expenses already incurred; technology costs associated with a transition to distance education; faculty and staff trainings; payroll; carry out student support activities authorized by the HEA that address needs related to coronavirus; make additional financial aid grants to students; Frequently Asked Questions.

Updated: 03/01/2023 : Category: #Institutional Uses of Funds : 11. Please note that funds for (a)(1) Institutional Portion may. A targeted follow-up audit will be conducted in FY22 regarding UTD’s Lost Revenue methodology to ensure compliance with the HEERF Lost Revenue FAQ once university management finalizes their procedures.

The Department continues to use the same definitions and references the same cost guidance.
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Mar 1, 2023 · If funds were used to discharge account balances as lost revenue using institutional funds without affirmative written consent, report in 9c(2021)/9b(2022) as unpaid student accounts receivable or other student account debts.

Mar 31, 2023 · Please see the Department’s HEERF Lost Revenue FAQs (March 19, 2021) for more information regarding what may be appropriately included in an estimate of lost revenue.
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27, 2020), and this applies to both the student and institutional portions.

Guidance on Lost Revenue The Department has taken a generous approach to the use of funds for lost revenue under the institutional portion of HEERF. Sep 30, 2021 · 3 Please see the Department’s HEERF Lost Revenue FAQs (March 19, 2021) for more information regarding what may be appropriately included in an estimate of lost revenue.

Since it can only be estimated, calculating it can be challenging.
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More information about the guidance can be found in the Notice of Interpretation, Lost Revenue FAQs, and updates to existing FAQs.

.

The HEERF III FAQ provides examples to satisfy the additional HEERF III requirements and confirms that specific thresholds or amounts have not been prescribed, but should be considered to be reasonable.
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4 Please post additional documentation as appropriate and briefly explainin the “Explanatory Notes” section. Lost revenue is a reimbursable expense under the institutional portion of HEERF. 0 funds.

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Overview Questions 1.

9 Please see the Department’s HEERF Lost Revenue FAQs (March 19, 2021) for more information regarding what may be appropriately included in an estimate of lost revenue. . May 24, 2021 · The Department of Education (ED) released guidance clarifying that colleges and universities can claim lost revenue against their HEERF grants. .

Sep 30, 2021 · Please see the Department's HEERF Lost Revenue FAQs (March 19, 2021) for more information regarding what may be appropriately included in an estimate of lost revenue.
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Congress set aside approximately $14.

. , cancelled ancillary events; disruption of food service, dorms, childcare, or other facilities; cancellation of use of campus venues by other organizations, lost parking revenue, etc. We have previous articles on lost revenue and how to calculate. PR/Award Number (s): P425F203346-20A. . As explained in the Lost Revenue FAQ published by ED on March 19, 2021, lost revenue is expected revenue that was reduced or eliminated as a result of the COVID-19 pandemic.


.

The $7,169,430 designated for institutional support from HEERF III was intended to assist the university in covering expenses related to lost revenues associated with the pandemic.

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The Department of Education (ED) released guidance clarifying that colleges and universities can claim lost revenue against their HEERF grants.
.
This would be recorded on the June 30, 2021.
Has the definition of lost revenue, the types of permissible costs or the excluded costs changed at all under HEERF III? No.
Importantly for private, nonprofit colleges and universities, the guidance expanded flexibility related to lost revenue and expenses.
Additionally,.
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Our Best Stories in Your On March 19, 2021, the Department. Overview Questions 1. Dec 27, 2020 · This AskRegs Knowledgebase Q&A was updated on May 12, 2021 to include guidance in the May 11, 2021 Higher Education Emergency Relief Fund (HEERF) III Frequently Asked Questions, as it relates to leftover HEERF I grants under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), HEERF II grants under the 2021 Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA. The total amount of lost revenues which can be applied towards PRF payments is $60,500,000. Has the definition of lost revenue, the types of permissible costs or the excluded costs changed at all under HEERF III? No. The Department will award these grants to institutions of higher education (IHE) basic on an formula stipulated in the legislation. Importantly for private, nonprofit colleges and universities, the guidance expanded flexibility related to lost revenue and expenses. . › An institution may only estimate lost revenue “associated with coronavirus” as specified by CRRSAA section 314(c)(1) • If the lost revenue is directly attributable to a cause other than the COVID-19 pandemic • The institution may not include those lost revenues in its estimation of its lost revenue for the HEERF grant programs. . . The incurring of the “cost” of lost revenue on an institution’s HEERF grant award. lost revenue, reimbursement for expenses already incurred; technology costs associated with a transition to distance education; faculty and staff trainings; payroll;. Apr 14, 2021 · lost revenue FAQ. . Jul 11, 2022 · Please see the HEERF ARP FAQs for more information. . HEERF Lost Revenue FAQs(March 19, 2021) for more information regarding what may be appropriately included in anestimate of lost revenue. A targeted follow-up audit will be conducted in FY22 regarding UTD’s Lost Revenue methodology to ensure compliance with the HEERF Lost Revenue FAQ once university management finalizes their procedures. . Allowing a broad array of categories to be covered. ). . . ,cancelled ancillary events; disruption of food service, dorms, childcare or other facilities; cancellation of use of campus venues by other organizations, lost parking revenue, etc. Replacing lost revenue from non‐tuition sources (i. Question: What changes did Congress make to the HEERF programs in ARP (HEERF III) that are different from the HEERF programs in CRRSAA (HEERF II)?. When may an institutions charge lost revenue to its HEERF grant award? An institution may charge lost revenue to its grant at the end of the period that it is using to estimate lost. institutional or student portion of the HEERF distributions. Do higher education institutions have any requirements under Internal Revenue Code section 6041 to report information on Form 1099-MISC for emergency financial aid grants awarded to students under section 3504, 18004, or 18008 of the CARES Act, or otherwise in response to the COVID-19 pandemic (including under other. . Thoughts on ED’s New Guidance on Revenue-Share Arrangements and Third-Party Servicers. Lost revenue is a reimbursable expense under the institutional portion of HEERF. May 12, 2021 · There are specific examples that can be found in FAQ #26. . ED specifies that the following previously-issued guidance applies in whole or in part to HEERF III, unless superseded by the text of the American Rescue Plan: Lost Revenue FAQs (issued on March 19, 2021). Please note that funds for (a)(1) Institutional Portion may. . This is identical to HEERF I and II. ED’s guidance also included a new Frequently Asked Questions document that addresses lost revenue specifically as one of the allowable uses of all HEERF. Importantly for private, nonprofit colleges and universities, the guidance expanded flexibility related to lost revenue and expenses.

Has the definition of lost revenue, the types of permissible costs or the excluded costs changed at all under HEERF III? No. Dec 27, 2020 · This AskRegs Knowledgebase Q&A was updated on May 12, 2021 to include guidance in the May 11, 2021 Higher Education Emergency Relief Fund (HEERF) III Frequently Asked Questions, as it relates to leftover HEERF I grants under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), HEERF II grants under the 2021 Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA.

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