How Higher Education Institutions Can Maximize American Rescue Plan Act Funding
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The article clarifies the spending deadlines for CARES Act and ARP Act funds and points to IT modernization and cloud migration as funding directions for higher education institutions, offering reference value for finance and administrative managers at such institutions.
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- SAP Concur BlogHow Higher Education Institutions Can Maximize American Rescue Plan Act Funding
A SAP Concur blog post notes the pandemic exposed weaknesses in higher education institutions' legacy systems, and the American Rescue Plan (ARP) Act provides funding to upgrade administrative functions. It says CARES Act funding must be used by December 31, 2021, while the deadline for ARP Act funds is December 31, 2024. It recommends prioritizing student financial aid and campus safety while also improving the systems back-office teams use. It also recommends following the 'paper' trail by shifting from paper to digital documentation for easier proof of funding use, and moving to the cloud, arguing cloud migration is a way to work more efficiently and securely and maximize funding.