ED Issues Additional Guidance on CARES Act, R2T4
The Department of Education recently published two guidance documents: one addressing questions related to funds provided under the CARES Act, and the other announcing regulatory flexibility with regard to Return to Title IV funds during the COVID-19 pandemic.
GASB Issues Defined Contribution Plan and Component Unit Guidance
GASB’s Statement 97 exempts defined contribution benefit plans from financial burden and accountability criteria that would lead to reporting in fiduciary fund financial statements.
GASB Releases CARES Act and Coronavirus Technical Bulletin
A Technical Bulletin released by GASB on July 2 clarifies the accounting, reporting, and recognition criteria for various program resources under the CARES Act.