Administered by the Office of Postsecondary Education of the U.S. Department of Education, the Coronavirus Aid, Relief, and Economic Security Act (or CARES Act) HEERF funding is government aid to help ensure learning continues for students who have been affected by the COVID-19 global outbreak. Universities received a designated amount, decided by the government, with a specific amount to allocate for student use and a specific amount for institutional use in support of student learning. For more information on CARES Act Relief, visit: www2.ed.gov/about/offices/list/ope/caresact.html.
SFAI CARES Act Reporting
The law requires institutions to report certain information related to the use of these funds. The following information is reported for the period up to December 31, 2020.
Initially, Spring 2020 students were approved for up to $1,500 of CARES Act Emergency Relief funds. After June 15, 2020 all previously eligible recipients during the Spring 2020 semester were given a 2nd distribution of CARES Act Emergency Relief funds for a total of $2,442 per student. All remaining CARES Act Emergency Relief funds were distributed equally to students who filed Financial Appeals for the Summer 2020 semester of $2,415.50 per student.
As of June 30, 2020, all funds for student Emergency Financial Aid grants had been fully spent.
As of September 30, 2020, SFAI had used the full $141,583 of the Institutional portion to transition to online learning by providing training to faculty, staff and students and purchasing software and equipment to facilitate the transition to online learning. SFAI also used $54,209 of the FIPSE portion for faculty and staff costs associated with teaching and serving students in an online learning environment.
As of December 31, 2020, SFAI had used another $162,625 of the FIPSE portion for faculty and staff costs associated with teaching and serving students in an online learning environment, for a total of $216,834 FIPSE funds.
Updated: December 31, 2020
Click here for SFAI’s Quarterly Budget and Expenditure Report the quarter ending 09/30/20.
Click here for SFAI’s Quarterly Budget and Expenditure Report the quarter ending 12/31/20.