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COVID-19 Update: Cash Flow Projections, Calculating Leave, Visa Issues, Ed Tech Risks

By Net Assets posted 04-08-2020 01:06 PM

  

(From blumshapiro) Most if not all independent schools are now wondering what impact COVID-19 will have on 2020-2021 enrollment. In times of crisis, cash flow rather than operating results becomes the basis for making critical decisions, say consultants at blumshapiro. A prudent cash flow model covers 90-day cycles of sources and uses of cash, monitors cash positions and is updated on a regular basis. The projection should take into account various enrollment assumptions based on information that becomes available on reenrollments and yields.

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(From Armanino) Recent coronavirus-related legislations (the FFCRA) includes two pieces of leave-related legislation, the Emergency Family and Medical Leave Expansion Act and the Emergency Paid Sick Leave Act, and requires employers to provide two kinds of paid leave related to COVID-19. Armanino has developed a checklist to help employers understand which employees are eligible for which leave, how to calculate it and how reimbursement works. 

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(From CUPA-HR) The U.S. Citizenship and Immigration Services recently relaxed some immigration procedural requirements for foreign students subject to monitoring through the DHS’s Student and Exchange Visitor Program. These include accepting scanned signatures in place of ink signatures and permitting full-time online course work instead of in-person classes to retain their visas. However, many obstacles remain, including:

  • No accommodation for those whose authorized period to stay in the U.S. is expiring but who cannot repatriate because of worldwide travel restrictions.
  • No accommodation for those in teaching positions whose application window is already 18 months long.
  • Suspension of premium processing, which would provide a 15-day expedited review for an additional fee for certain temporary and permanent visa petitions generally reserved for highly educated professionals.

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(From EdSurge) The ed-tech companies that have offered free or discounted services to schools affected by COVID-19 closures may begin charging fees. A quarter say use has grown more than 200%, resulting in increased infrastructure costs and staff. More than half of ed-tech companies surveyed said they have six months or fewer of financial runway.

More at EdSurge 

(From Orange County Register) Two independent schools in Orange County, California, have begun offering childcare to current students and other kids with parents who are first responders, healthcare workers and other essential employees. Heights Christian Schools and Higher Ground Education, which runs three Guidepost Montessori schools in the area, are maintaining social distancing precautions and keeping children in small groups. Higher Grounds said they're taking students' temperatures daily, and parents confirm health statements prior to sign-in.

More at Orange County Register

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