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Jun 11

RubinBrown’s Leveraging Technology for Business Success

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RubinBrown’s Rural Health Webinar Series

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RubinBrown Sports Betting Index: March 2025 Analysis

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Tax Bill Watch 2025: Budget Resolution Compromise

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At RubinBrown, we provide valuable insights and host engaging, virtual and in-person events to keep you informed and connected to the topics and industries that matter most to you.

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At RubinBrown, we provide valuable insights and host engaging, virtual and in-person events to keep you informed and connected to the topics and industries that matter most to you.

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Now displaying 13 of 13 articles
Insight Article | October 25, 2024

Analyzing School Closures

RubinBrown completed an analysis of financial results from FY18 through FY23 for ten institutions that announced closure in 2023 or 2024. The project, led by Corey Robinson of RubinBrown, utilized data from IPEDs, the institution’s financial statements obtained from the Federal Audit Clearinghouse (fac.gov), and Financial Responsibility Composite Scores (Composite Score) from studentaid.gov.

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Insight Article | May 29, 2024

Fiscal Year 2023 Analysis of Colleges and Universities

RubinBrown analyzed the financial statements for institutions with a fiscal year ending in 2023 and who filed final reports with the Federal Audit Clearinghouse through March 31, 2024 and noted a few trends:

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Insight Article | April 23, 2024

Employee Retention Credits in Higher Education

As of April 17, 2024, the Federal Audit Clearinghouse shows over 213 higher education institutions have claimed the Employee Retention Credit (ERC) for a total of approximately $719 million.

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Insight Article | January 5, 2024

2024-25 FAFSA Released

The 2024-25 Free Application for Federal Student Aid (FAFSA) was scheduled to be released by December 31, 2023. Typically, the FAFSA is released by October 1st to allow time for students and parents to complete ahead of the next fiscal year.

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Insight Article | September 13, 2023

Top Compliance Findings in Student Financial Aid

The Department of Education (ED) recently released its annual report on the Top 10 audit findings and Top 10 program review findings for FY22. These findings remain largely unchanged from FY21 to FY22.

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Insight Article | August 16, 2023

FAFSA Simplification Guidance Release

The FAFSA Simplification Act (the Act) introduces the most significant changes to the FAFSA and student financial aid processing in over 40 years. A number of the provisions of the FAFSA Simplification Act have already been implemented, but the majority of the provisions of the FAFSA Simplification Act will impact the 2024-25 award year.

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Insight Article | June 26, 2023

Focus on Colleges and Universities: GLBA and FTC Safeguard Rule Audit Guidance

We mentioned in our previous E-Focus, that eventually auditors will be directed to assess the implementation of the GLBA and FTC Safeguard Rule requirements. The 2023 Compliance Supplement, 2 CFR Part 200 Appendix XI (May 2023), Part 5 Cluster of Program, provides auditors with suggested audit procedures.

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Insight Article | August 18, 2022

Focus on Colleges and Universities: GLBA and FTC Safeguard Rule Impacts

The new rules from the Gramm-Leach-Bliley Act (GLBA) and the Federal Trade Commission (FTC) Safeguards Rule were released in December 2021 and go into effect in December 2022. The changes expand the definition of nonbanking financial institutions to include higher education institutions providing student financial aid.

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Insight Article | May 23, 2022

Focus on Colleges and Universites: 2022 Compliance Supplement - Student Financial Aid and HEERF

The OMB has released the Compliance Supplement for 2022.  Some notable items related to Student Financial Aid (SFA) and the HEERF program that will be evaluated by your auditors are as follows:

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Insight Article | July 15, 2021

Focus on Colleges & Universities: Significant Changes to SFA Verification Requirements

On July 13, 2021, the Department of Education (ED) published a Dear Colleague Letter (GEN-21-05) changing the verification requirements for the 2021-2022 FAFSA processing and verification cycle, including eliminating the requirement for “V1” verification requirements by all higher education institutions.

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Insight Article | July 6, 2021

Focus on Colleges & Universities: New Proposed Data Collection Form Released for HEERF I, II and III

On June 23, 2021, the Department of Education posted a proposed new data collection form for HEERF I, II and III.

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Insight Article | March 30, 2021

Focus on College & Universities: Department of Education Releases FAQs Clarifying Lost Revenues

A significant change for HEERF II funds compared to the HEERF I funds is that lost revenues are now specifically considered to be allowable costs.

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Insight Article | March 30, 2020

COVID-19: Colleges & Universities and the CARES Act

With institutions of higher education being some of the earliest organizations impacted by the pandemic, the CARES Act provides some relief to institutions as well as students.

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