CFO announces what college can expect in pandemic relief funding

By Noah Jennings, Staff Reporter

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Senior Vice President for Business Affairs and CFO Jerry Tarrer outlined preliminary estimations of what the college will receive from the latest stimulus package.

During his presentation in a Friday, March 12 Faculty Senate meeting, Tarrer said the college is projected to receive $8 million or more for the college, as well as approximately $8 million designated for students.

This money comes from the $1.9 trillion American Rescue Package signed into law by President Joe Biden on Thursday, March 11.

The most recent award would be larger than the amount the college received from the previous two stimulus packages. The Coronavirus Aid, Relief, and Economic Security Act from March 2020 allocated approximately $6.3 million to the college, $3.17 million of which was directed toward students.

The Coronavirus Response and Relief Supplemental Appropriations Act from December 2020 gave $9.79 million to the college, with $3.17 million specified for student aid.

Chief of Staff Laurent Pernot said the college is waiting on the exact spending rules to come in from the Department of Education before finalizing where the money will be allocated.

“Congress passes the bill, but then the U.S. Department of Education comes up with rules for implementation and those sometimes take time to come into focus. We don’t necessarily know what the rules are going to be just reading the bill,” Pernot said.

More updates to come.