We don’t have all of the answers yet for PPP loan forgiveness, but there are a few key things that we do know at this point. They include: SBA confirms that you can apply for forgiveness any time up until
Program Income
There are very specific rules (in Health and Human Services Uniform Administrative Requirements in 45 CFR 75) about program income, including the costs of generating income and how that income may be used. First, if your award (or approved budget)
Closing in on year-end — what you should do now
Your current federal Part C grants are winding down for the year. By September 29 you will have encumbered any remaining funds, or they will be absorbed back into the U.S. Treasury. (You won’t see them disappear from your account
Did you receive a PPP loan?
by John Heveron, Jr. Principal, Heveron and Company CPAs, Rochester NY If you received a Paycheck Protection Program (PPP) loan, your next objective is to apply for forgiveness. However, there are still several unanswered questions about forgiveness, so the wisdom
Breaking news
Updates to Uniform Guidance Issued On August 13, updates to the Uniform Guidance were published in the Federal Register. Generally these updates are effective November 12, 2020 with some limited exception for amendments that are effective immediately. One important area
How can CARES Act dollars to CILs be spent?
First a little background. What are the CARES Act Funds? The CIL CARES Act funding went to the federally funded (Part C) centers for direct response to the COVID-19 crisis among people with disabilities in their service area. They have
As you purchase with federal funds…
With the influx of the CARES Act funds to Part C centers, you have been purchasing personal protective equipment, food, technology, internet or delivery services and more. Are you following your own procurement policies? And do they fall within the
URGENT: Calling all Part C Centers
Are you spending your CARES Act funds? After years of saying we don’t have enough funding, the Part C centers received a very generous infusion of cash. The purpose was to be able to offer flexible and immediate support to
CARES Act funds for Part C centers — Spend wisely
The CARES Act funds for COVID-19 relief became available to Part C centers this past week. I would like to suggest some things to think about before you begin spending. If you plan well, your reporting and documentation will be
Program Income and COVID-19
Does income we generate from a program need to be used to reduce federal costs? HHS regulations section 75.307 address how program income must be used. The default for use of program income, earned during the period of performance, is