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NACUBO Recommends Improvements to HEERF Quarterly Reporting

NACUBO asked the Department of Education not to separate institutional and student HEERF funding sources when reporting emergency student aid information and to only associate lost revenue funds received with current or planned use, among other recommendations.

GASB Releases Omnibus Standard

Statement No. 99, Omnibus 2022, clarifies various technical issues. Topics include financial guarantees, derivative instruments, right-to-use assets, replacing LIBOR, and nonmonetary transaction disclosures.

Department of Education Encourages Using HEERF for Mental Health Needs

During Mental Health Awareness Month, the Department of Education released an FAQ that strongly encourages institutions to use HEERF funds to meet mental health and substance abuse disorder needs of students. Additional information can be found at NACUBO’s HEERF Resource Center.