Financial Education & Counseling Pilot Program Application

Forms and Documents

Document Name	Status
Form CDFI 0033 FY 2009 Financial Education & Counseling Pilot Program Application Form and Instruction	New
CDFI FEC Application OMB Supporting Statement CLEARED.doc Supporting Statement A	2009-09-10

IC Document Collections

IC ID	Document Title	Status
190580	FY 2009 Financial Education & Counseling Pilot Program Application Form and Instruction	New

ICR Details

OMB Control No: 1559-0034	ICR Reference No: 200909-1559-001
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/CDFIF	Agency Tracking No:
Title: Financial Education & Counseling Pilot Program Application
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 09/18/2009
OIRA Conclusion Action: Approved with change	Conclusion Date: 10/06/2009
	Date Received in OIRA: 09/14/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2010	6 Months From Approved
Responses	75	0	0
Time Burden (Hours)	3,000	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The CDFI Fund is implementing a Financial Education and Counseling (FEC) Pilot Program to provide financial assistance awards to eligible organizations to provide a range of financial education and counseling services to prospective home buyers.

Emergency Justfication: The Community Development Financial Institutions (CDFI) Fund is requesting emergency Paperwork Reduction Act (PRA) clearance of the FY 2009 Financial Education and Counseling (FEC) Pilot Program Application. The attached clearance package includes the application and supporting tables and instructions. This package is simultaneously being internally cleared at the CDFI Fund, but no substantive changes are expected at this time. Under the FEC Pilot Program, the CDFI Fund will provide financial assistance awards to eligible organizations to provide a range of financial education and counseling services to prospective homebuyers. The FEC Pilot Program was authorized in July of 2008 under Section 1132 of the Housing and Economic Recovery Act of 2008 (Pub. L. 110-289), and in March of 2009, $2 million was appropriated for this program under the Omnibus Appropriations Act of 2009 (Pub. L. 111-8). In order to announce the availability of funds for this program prior to the end of FY 2009, it is critical that the normal PRA clearance process be waived with respect to the 2009 funding round. The Administration is not requesting funds for this Program in FY 2010, but if additional funds are provided by Congress for FY 2010, then the CDFI Fund shall seek approvals under the standard PRA clearance process at that time. The CDFI Fund plans to award grants associated with the FEC Pilot Program within a six-month time frame. It is the goal of the Fund to publish the FY 2009 FEC Notice of Funds Availability and Application by September 15, 2009. The Application due date is November 2, 2009, and the CDFI Fund hopes to announce the award recipients by February of 2010. The pool of applicants is not anticipated to be extensive. The Fund anticipates that approximately 75 FEC Pilot Program applications will be submitted, and that only 5 awards will be made totaling $2 million. The total hour burden of this information collection is estimated 40 hours per applicant. Given the low number of expected applicants, and the fact that the FEC Pilot Program may only be administered for this fiscal year, the Fund would not expect a full PRA process to yield any revisions to the existing materials. This clearance package includes a draft of the Financial Education and Counseling Pilot Program Application. Due to the timing constraints related to announcing this program before the end of the fiscal year, as well as the limited scope and duration of this program, the Fund opted to not collect public comments. However, the application materials have been vetted and cleared with the Office of Financial Education (OFE) at the U.S. Department of Treasury, and were also shared with members of the inter-governmental Financial Literacy and Education Commission (FLEC). Those comments are reflected in the final application. There were no significant comments from those offices on the potential burden.

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Authorizing Statute(s): PL: Pub.L. 110 - 289 1132 Name of Law: Housing and Economic Recovery Act of 2008
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
FY 2009 Financial Education & Counseling Pilot Program Application	CDFI 0033	Financial Education and Counseling Pilot Program Application

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	75	0	0	75	0	0
Annual Time Burden (Hours)	3,000	0	0	3,000	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The Fund cannont meet its statutory requirements to make award decisions without using an application form; this is anticipated to be a one-time collection for the FY 2009 funding round. Elements specified in the program's authorizing statute limit the amount to which the application burden can be reduced below the current level.

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Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 09/14/2009

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