Supporting Statement for the Bank Enterprise Award Program of the
Community Development Financial Institutions Fund
Bank Enterprise Award (BEA) Program Awardee Reporting Form
OMB No. 1559-0032
A. Justification
1. Circumstances necessitating collection of information
The Community Development Financial Institutions (CDFI) Fund administers the Bank Enterprise Award (BEA) Program. The BEA Program provides incentives to insured depository institutions to increase their support of CDFIs and their activities in economically distressed communities. Applicants submit an application and are evaluated in accordance with statutory and regulatory requirements (see 12 CFR 1806). The CDFI Fund requires BEA awards to be used for BEA Qualified Activities, as defined under the BEA Program regulations. Awardees are required to report how the award was used to the CDFI Fund.
2. Method of collection and use of data
Data is collected by the CDFI Fund from Awardees who receive awards above a certain threshold (currently $50,000) and/or made a commitment to serve Persistent Poverty Counties (PPC). Awardees are required to complete and electronically submit a Uses of BEA Program Award Report.
3. Use of Information Technology
The CDFI Fund has a web-based data collection system for Awardees to submit required data and reports. Awardees have individual myCDFIFund accounts, which allow them to access, save and submit documents, including the BEA Program Uses of BEA Program Award Report forms, to the CDFI Fund.
4. Efforts to identify duplication
The CDFI Fund does not request information available from other Federal agencies, namely, financial institution regulatory agencies.
5. Impact on small entities
This collection of information is not expected to have significant impact on small entities.
6. Consequences of less frequent collection and obstacles to burden reduction
In the fall of 2008, the Office of Management and Budget recommended that the CDFI Fund begin requiring BEA Program Awardees to use their awards for BEA Qualified Activities. The CDFI Fund cannot monitor usage of BEA Program awards without the collection of this data.
7. Circumstances requiring special information collection
Not applicable.
8. Solicitation of comments on information collection
Comments on the BEA Program reporting requirement were solicited in the Federal Register on July 30, 2013, at 78 FR 46002, and no comments were received.
9. Provision of payment to respondents
No payment or gift will be made to respondents.
10. Assurance of confidentiality
The CDFI Fund is subject to all Federal regulations with respect to confidentiality of information supplied in the application process.
11.
Justification of sensitive questions.
No questions of a
sensitive nature are asked in the application.
12. Estimate of the hour of burden of information collection
The total annual hour burden of this information collection is estimated at 40 hours; the CDFI Fund anticipates 40 respondents annually with an estimated 1 hour per Awardee. Approximately 85 percent of all BEA Awardees will be required to submit the Uses of BEA Program Award Report and BEA Program Explanation of Noncompliance form (based on the number of awardees in FY 2012 that received an award above $50,000 and/or made a PPC commitment).
13. Estimate total annual cost burden to respondents
There are no cost burdens associated with the collection of this data. No purchases of equipment or services are necessary to complete the Uses of BEA Program Award Report form.
14. Estimate of annualized cost to the Government
The cost to the Government is the CDFI Fund staff time required to review the report, follow-up with respondents, tabulate the data, and report the results.
15. Any program changes or adjustments
All BEA Program materials have been updated, including regulations, Notice of Funds Availability, application, and award agreement, to reflect the requirement that an Applicant receiving an award over $50,000 and/or a PPC commitment will be subject to the compliance and reporting requirements as part of the terms and conditions of the BEA Program Award Agreement.
The Use of BEA Program Award Reporting form (“Schedule 2-C”) currently requires Awardees to indicate the Distressed Communities in which their Distressed Community Financing and/or Service Activities occurred. Based on the NOFA and BEA Program Interim Rule to which Schedule 2-C refers in its directions for completing the form, Awardees are required to submit a Distressed Community map of census tracts generated by the CDFI Fund’s CIMS mapping program as attachments to the Use of BEA Program Award Report form in order to indicate that such areas qualified as Distressed Communities. In order to minimize the burden on Awardees and to facilitate the CDFI Fund’s capacity to aggregate and analyze this required data, the CDFI Fund has revised Use of BEA Program Award Report form to allow Awardees to provide the census tract numbers where their activities occurred in a designated column directly on the form. Accordingly, Awardees will no longer be required to submit the census tract maps as attachments to the Use of BEA Program Award Report from in order indicate particular Distressed Communities, and may instead now provide only the census tract numbers that are obtained from these maps.
16. Plans for information tabulation and publication
Confidential or proprietary information collected through the Uses of BEA Program Award Report form will not be published.
17. Reasons for not displaying expiration date of OMB approval
The display of the OMB expiration date would cause confusion by respondents due to the limit duration of application period. It is requested not to display this expiration date.
18. Explanation of exception to certification statement
Not applicable.
| File Type | application/msword |
| File Title | Supporting State for the Bank Enterprise Award Program of the |
| Author | harrisj |
| Last Modified By | Wolfgang, Dawn |
| File Modified | 2013-09-30 |
| File Created | 2013-09-30 |