As things move quickly in Washington, DC, NACUBO is your constant advocate in action. NACUBO On Your Side covers important legislative and agency activity NACUBO staff are tracking, what we’re currently advocating for, and how you can take action with us.
Here are the issues we are tracking and advocating for this week.
GAO Shares Data on CARES Act Grants
A recent report from the U.S. Government Accountability Office found that as of November 2020, the Department of Education had awarded $6.19 billion to 4,778 institutions that applied for emergency grants to students under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The average amount per student was approximately $830. The report also details how institutions distributed the grants to eligible students.
ED Releases Maintenance of Effort Guidance for Two COVID-19 Relief Funds
The Department of Education recently released guidance detailing maintenance of effort (MOE) requirements and waiver requests related to the Elementary and Secondary School Emergency Relief (ESSER) and Governor’s Emergency Education Relief (GEER) funds. The guidance contains tables to aid states in calculating their MOE and complying with requirements for the pandemic relief packages. The guidance also offers examples of types of support for higher education that states must, may, and may not use when calculating MOE as well as situations in which a state may receive a waiver.
ED Issues Final Rule for Calculating Supplemental HBCU CRRSA Allocations
The Department of Education published a final rule to clarify how endowments factor into supplemental Higher Education Emergency Relief Fund (HEERF) allocations made available to Historically Black Colleges and Universities (HBCUs) through Section 314(a)(2)(A) of the Coronavirus Response and Relief Supplemental Appropriations (CRRSA) Act. The rule intends to maintain equity among allocations to institutions with varying endowments while ensuring that more aid is allotted to schools with smaller endowments. Per the rule, ED will treat schools with no endowment or an endowment valued below $1,000,000 as having an endowment of $1,000,000.
GASB Proposal Would Rename Annual Report
A GASB exposure draft proposes eliminating the acronym for and changing the name of the Comprehensive Annual Financial Report to the Annual Comprehensive Financial Report. Comments are due July 9.
Charitable Giving Coalition Letter
The Charitable Giving Coalition, of which NACUBO is a member, wrote to Treasury Secretary Janet Yellen to support policies that encourage charitable giving. Primarily, the letter raises concern with the proposal to cap itemized deductions at 28 percent of adjusted gross income for taxpayers making more than $400,000 per year. Based on an estimate of the impact of a similar proposal in 2011, this cap could cost charities nearly $10 billion in the first year.
Bold Action Required
Building on the latest edition of NACUBO’s State of Higher Education series, NACUBO’s Bryan Dickson and Lindsay Wayt recorded an episode the of NACUBO In Brief podcast to discuss the work. In addition to learning about the need for increased investment in students from low-income backgrounds, you can add your voice to the conversation by joining our campaign to #DoublePell . Click here or text “College Pell” to 52886 to join.
NACUBO On Your Side: April 13-19, 2021