COVID-19 PA Hazard Pay Grant Program

by Jeff Wolstoncroft On Thursday, July 16, 2020, Governor Tom Wolf announced the availability of $50 million in grant funding to help employers provide hazard pay to employees in life-sustaining occupations during the COVID-19 pandemic. Applications will be received between July 16, 2020 and July 31, 2020. Complete details of the program and a link … Read more

Webinar Recording: Financial and Legal Risks for School Districts

This H2R CPA webinar was presented live on May 27, 2020. The webinar recording can be accessed here. A PDF of the webinar presentation can be accessed here. Webinar Summary School board members and leadership continue to manage the effects of COVID-19. From remote teaching to canceling graduation ceremonies, the state of confusion is more likely … Read more

PPP Loan Forgiveness Update

by Jeff Wolstoncroft, CPA The following is a summary of the Paycheck Protection Program (PPP) Interim Final Rule on Loan Forgiveness (5/22/2020): Payroll costs are on a cash basis on the front end of the 8 weeks and accrual basis for the final pay of the 8 weeks, for forgiveness.  Meaning the payrolls paid during … Read more

Will I need to certify economic need for my PPP loan?

The SBA has provided some guidance regarding the requirement for borrowers to certify their economic need for a PPP loan. If the loan amount is under $2m, then the loan will fall under safe harbor and will not need to be certified. The SBA has stated that it will not be able to review these … Read more