Cares Act - Institutional Portion Cares Act - Institutional Portion

Cares Act - Institutional Portion

Higher Education Emergency Relief Fund-Institutional Portion

 

The Coronavirus Aid, Relief, and Economic Security (CARES) Act makes funding available so that institutions of higher education can serve students and help them continue to learn during this unprecedented time.

Frederick Community College (FCC) provides periodic reports for 1) The Higher Education Emergency Relief Fund - Student Aid and 2) The Higher Education Emergency Relief Fund-Institutional Portion. Reporting periods follow regular intervals determined by the United States Federal Government.

The information on this webpage is provided to comply with federal reporting requirements of the CARES Act and the U.S. Department of Education. It will be updated on a quarterly basis as required.

 

REPORT: Higher Education Emergency Relief Fund - Institutional Portion

Quarterly Report for the Period ending June 30, 2020

 

On March 27, 2020, the President of the United States signed the CARES Act (H.R. 748), which provides emergency relief funds to organizations and individuals affected by the coronavirus pandemic. The Higher Education Emergency Relief Fund (HEERF), found in Section 18004 of the CARES Act, provides funding to institutions of higher education “to prevent, prepare for, and respond to coronavirus.

This page describes the use of HEERF funds received by Frederick Community College under Award Number P425E202788.


CERTIFICATION
Frederick Community College signed and returned to the U.S. Department of Education 1) the Certification and Agreement for Emergency Financial Aid Grants to Students and 2) the Certification and Agreement for the Institutional Portion of the Higher Education Emergency Relief Fund. Frederick Community College intends to use no less than 50 percent of total funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students. 

FUNDING
Frederick Community College has been allocated a total of $1,851,890 under Section 18004(a)(1) of the HEERF. On June 2, 2020, Frederick Community College received an award of $925,945 from the U.S. Department of Education pursuant to the Certification and Agreement for the Institutional Portion of the Higher Education Emergency Relief Fund.

USE OF FUNDS FOR INSTITUTIONAL COSTS
As of June 30, 2020, $0.00 has been used for institutional costs.

INTERNAL CONTROLS
Frederick Community College has a variety of internal controls in place to ensure that funds are used for allowable purposes and in accordance with cash management principles. The institution uses a chart of accounts structure that represents all entries posted to the financial system to support required financial reporting and accountability. Project codes are established for budgeting and accounting for revenue and expenses for a specific project or activity such as grants and contracts to ensure that grant/contract expenditures are segregated from organizational expenditures. Internal controls include, but are not limited to adequate segregation of duties with regard to posting and approval of journal entries (including correcting entries) to the accounting system; cash management, including cash drawdowns and requests for reimbursement; review and approval of expenditures and procurements; review and approval of financial, performance and other required reports.

ADDITIONAL INFORMATION
For more information about the CARES Act – Institutional Portion, visit the United States Department of Education website.