[Cobo] FW: Distribution of CARES Act Funding for Institutions

[Mauck, Sheri]

Please find guidance on the institutional portion of funding now available from the Federal CARES Act.

From: Johnson, Dr. Glen
Sent: Wednesday, April 22, 2020 11:20 AM
To: Presidents <pres at osrhe.edu>

Subject: Distribution of CARES Act Funding for Institutions
Importance: High

OKLAHOMA STATE REGENTS FOR HIGHER EDUCATION


Memo


To:                  Presidents
Cc:                  State Regents
                        Higher Education Network
From:             Chancellor Glen D. Johnson
Date:               Wednesday, April 22, 2020
Subject:          Distribution of CARES Act Funding for Institutions


Attached please find a press release issued yesterday afternoon announcing that U.S. Secretary of Education Betsy DeVos has made available an additional $6.2 billion in stimulus funding through the Coronavirus Aid, Relief, and Economic Security (CARES) ACT to higher education institutions (Attachment 1).

Also attached is a letter from Secretary DeVos to college and university presidents regarding the distribution of these funds (Attachment 2). According to Secretary DeVos’ cover letter to college and university presidents, Section 18004(c) of the CARES Act allows higher education institutions “to use up to one-half of the total funds received under Section 18004(a)(1) to cover any costs associated with significant changes to the delivery of instruction due to the coronavirus.”


In order to access the funds for Recipient’s Institutional Costs under Sections 18004(a)(1) and 18004(c) of the CARES Act, institutions must sign the Recipient’s Funding Certification and Agreement for the Institutional Portion of the Higher Education Emergency Relief Fund (Attachment 3) and return it via grants.gov (https://www.grants.gov), acknowledging and agreeing to the terms and conditions of the funding. After the USDE has received the Certification and Agreement and verified the information therein, institutions may draw down their funds for the Recipient’s Institutional Costs using the Department’s G5 system.



According the USDE website (https://www2.ed.gov/about/offices/list/ope/caresact.html), institutions must complete and submit the Certification and Agreement for the emergency student financial aid allocation of CARES Act funding before submitting the Certification and Agreement for the institution’s allocation of CARES Act funding..



Finally, please find attached the “Allocations for Section 18004(a)(1) of the CARES Act” as produced by the U.S. Department of Education for your review (Attachment 4).



Additional information regarding the allocation of funds to higher education institutions can be found online at: https://www2.ed.gov/about/offices/list/ope/caresact.html. This includes a Frequently Asked Questions document regarding the institutional portion of higher education stimulus funding under the CARES Act (Attachment 5).


If you have any questions regarding this information, please forward them to Kylie Smith, Vice Chancellor for Administration, at ksmith at osrhe.edu<mailto:ksmith at osrhe.edu> and she will coordinate responses.

Thank you.

Glen

Glen D. Johnson
Chancellor
Oklahoma State Regents for Higher Education
655 Research Parkway, Suite 200
Oklahoma City, Oklahoma 73104
405.225.9122
gjohnson at osrhe.edu<mailto:gjohnson at osrhe.edu>
follow us on Twitter @okhighered


[cid:image001.jpg at 01D61897.EA0A7310]      [cid:image002.png at 01D61897.EA0A7310]



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