Thank you!  This was much appreciated.  The FAQ response to lost revenue is much more comprehensive than I could have imagined.

Happy Friday Everyone!
Arielle Augustyn, CRA, MNBA
Senior Director of Grants Contracts Accounting & Research Administration Services
(312) 567-3311
3424 S. State St.
Office #4C8-2
Chicago, IL 60616

The Grants Accounting and Research Administration Offices are working remotely, but staff remain available Monday through Friday from 8:30 am  – 5:00 pm.  The best way to contact me is via email at xxxxxx@iit.edu


On Fri, Mar 19, 2021 at 7:54 AM Albuquerque, Meredith <xxxxxx@snhu.edu> wrote:

Hi All –

This was just issued today! 

 

https://www2.ed.gov/about/offices/list/ope/g5updateletter31921.pdf

 

 

 

Meredith Albuquerque

Associate Director of Grant Compliance

Southern New Hampshire University

2500 North River Road

Manchester, NH 03106

(603)644-3129

https://alumni.snhu.edu/operations/grant-resources

 

 

From: Research Administration List <xxxxxx@LISTS.HEALTHRESEARCH.ORG> On Behalf Of Cynthia Thurlow
Sent: Thursday, March 18, 2021 4:04 PM
To: xxxxxx@LISTS.HEALTHRESEARCH.ORG
Subject: Re: [RESADM-L] HEERF II - institutional portion - lost revenue

 

Hello,

 

Has there been any clarification or response to how we may document lost revenue under HEERF II - Institutioanl? I would be interested in receiving information, as well.

 

Thank you,

 

Cynthia Thurlow

Sponsored Research Administrator

Hawai`i Pacific University

email:  xxxxxx@hpu.edu

 

From: Research Administration List <xxxxxx@LISTS.HEALTHRESEARCH.ORG> On Behalf Of Nicole Davis
Sent: Monday, January 25, 2021 7:31 PM
To: xxxxxx@LISTS.HEALTHRESEARCH.ORG
Subject: [RESADM-L] Fw: HEERF II - institutional portion - lost revenue

 

I was hoping for clarification or guidance re: the exact methodology for utilizing our newest round of CRRSSA HEERF institutional funding toward lost revenue.  As we all know, that is an allowable use of these new funds. 

 

What I don’t know is exactly how to go about accounting for and documenting this.  I am a bit out of my swim lane.  I had assumed we would set up a separate account internally for the grant, show/itemize our lost revenue based on source (tuition/fees/housing/conference), document how we got our figures (year over year loss) (would this be a negative amount in revenue? Or debit to revenue? - I am not an accountant)... and pull the money from G5.  I assumed we could then put this newly recovered revenue into our operating fund, to pay salary/benefits/electric bills etc (all the things the original revenue would have covered, had we not had the decline due to covid).  Am I going astray in this so far? 

 

We were on the call a couple weeks ago with the DoE, and several of our leadership team understood their message to say that not only did we need to document how we determined our lost revenue (year over year decline), but also we needed to itemize and track the direct costs that we paid using the recovered revenue - which would amount to (I assume) a very large transfer of costs from our operating budget (salaries etc.) but this would negatively impact our operating budgets/forecasting models going forward. They took the call to direct us NOT to put the lost revenue into an operating fund AT ALL at any point, but instead track any expenses paid by this money separately. 

 

I did not hear that we also had to track separately what we go on to use the funding/revenue for at the next stage.  However, they didn’t record and post the call, anywhere I can see, to go back and listen again for clarity.  I could be completely incorrect.  

 

Looking at the current CARES reporting form, there is no where to report what expenses you later paid if you used (a)(2) or (a)(3) funds for lost revenue.  Who is asking for this accounting/itemization? Auditors? Has anyone that used (a)(2) or (a)(3) funds for lost revenue have insight into an audit friendly approach to accounting for this use? Do we need to itemize what we go on to pay for, with this reclaimed lost revenue? Seems like we should only itemize direct expenses if we plan to use the funding to cover direct expenses? You can’t put both (lost revenue and various direct expenses) in the current report or you would essentially be reporting double.  

 

Any clarification, thoughts or ideas on how to best go about this would be greatly appreciated.  I requested guidance from our auditors, but they said they are waiting for guidance themselves, and so I thought I would try here. 

 

 

Nicole Davis 

Grant Coordinator 

Elmhurst University 

 

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