[Cobo] Instructions for Receipt of CARES Act Funding - Budget Revision Submissions

[Mauck, Sheri]

Please see the budget instructions for filing a budget revision for the receipt and expenditure of the Federal CARES Act funding for the COVID -19 crisis.  I've attached a template for the budget revisions you will need to submit. You will need to add your agency number and the amount of allotment you are requesting.

Please remember that 50% of the funding you receive must go directly for grants to students.  The first tranche of funding from the Federal USDE to be release this week is for the student grants only.   Please send your budget revision worksheet to me, (smauck at osrhe.edu) then I'll forward, after review, on to OMES for processing.

The 490 fund has been established at the State Level for the purpose of the CARES Act funding.  You will need to file a budget revision to establish budget using the department of 4900001 and the Statewide program of A0104.

If you have questions or concerns, please feel free to reach out.  Thank you.



See the directions provided below through OMES DCAR:
COVID-19 TEMPORARY PROCEDURES
COVID-19 - CARES Act to include aid to state and local governments - ARRA-like reporting to be required

Like the American Recovery and Reinvestment Act, the CARES Act providing federal economic relief to state and local governments will require reporting. Several state agencies that worked tirelessly during the ARRA implementation will recognize provisions establishing a Pandemic Response Accountability Commission and quarterly reporting similar to that required during ARRA.

Final federal regulations are expected in mid-April. Look for future updates on reporting requirements after the federal regulations are final. The requested information will include state agency reporting contacts and other responsible persons, federal grant award information including award amounts, expenditure amounts, federal award identification and tracking information normally associated with grant awards.

CLASS FUNDING 49000:

Oklahoma state agencies should plan to use PeopleSoft Class Funding 49000 for depositing and expending Pandemic Recovery dollars. If your agency is currently using this class funding, OMES will be working with your agency to clear out the activity in this class funding. If your agency will be receiving Pandemic Recovery funding and you do not already have a Class Funding 49000, please contact Jennie Pratt at jennie.pratt at omes.ok.gov<mailto:Jennie.Pratt at omes.ok.gov> to have one set up for your agency.
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