Certification of Material Events Form

Forms and Documents

Document	Type	Status	Availability
Form CDFI Form 0037 Certification of Material Events Form	Form and Instruction	Modified	Repair queued
1559-0037 - Supporting Statement - 20160627.doc	Supporting Statement A	Uploaded 2016-06-27	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
192127	Certification of Material Events Form	Form and Instruction	Modified

ICR Details

OMB Control No: 1559-0037	ICR Reference No: 201606-1559-003
Status: Historical Active	Previous ICR Reference No: 201305-1559-003
Agency/Subagency: TREAS/CDFIF	Agency Tracking No:
Title: Certification of Material Events Form
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 07/29/2016
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/29/2016
	Date Received in OIRA: 06/29/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2017	6 Months From Approved	07/31/2016
Responses	200	0	200
Time Burden (Hours)	50	0	50
Cost Burden (Dollars)	0	0	0

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Abstract: A Material Event is defined as an occurrence that affects an organization’s strategic direction, mission, or business operation and, thereby, its compliance with the terms and conditions of its allocation or assistance agreement or their status as an entity certified by the CDFI Fund. The CDFI Fund requires this information to prevent fraud, waste, and abuse of Federal funds. The CDFI Fund implements programs that provide financial assistance in the form of grants, loans, and tax credits to increase the capacity of financial institutions to provide capital, credit, and financial services in underserved markets. Additionally, the CDFI Fund is responsible for confirming certification for Community Development Entities (CDEs) and Community Development Financial Institutions (CDFIs). Organizations that receive Federal financial assistance from the CDFI Fund are required to report Material Events in order to be in compliance with requirements of their award agreements. CDEs and CDFIs are required to report Material Events to maintain their certification status with the CDFI Fund.

Emergency Justfication: On December 19, 2014, the Department of the Treasury published a final rule, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR Part 1000), which adopted the government-wide framework for grants management codified by the Office of Management and Budget (OMB) at 2 CFR 200 (the Uniform Requirements). Since adopting the Uniform Requirements, the CDFI Fund has been working across programs to update all documentation to be in compliance. The first financial assistance awards impacted by the Uniform Requirements were made in September 2015 and countersigned by recipients in December 2015. However, the CDFI Fund is still undergoing the process of standing up the Capital Magnet Fund which has elements that need to be incorporated into the Material Events Form. Due to changing requirements and unforeseen delays, the CDFI Fund did not have information on all the elements that will be required in the Material Events Forms and was unable to submit the 60-day notice for public comment in time to meet the deadline for publishing the 30 day notice for the OMB comment period. Therefore, the CDFI Fund seeks Emergency PRA Clearance to renew OMB #1559-0037, the Material Events Form, in its current state until the time it can be updated to reflect up-to-date requirements for all applicable CDFI Fund programs.

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Authorizing Statute(s): US Code: 26 USC 45D Name of Law: null
   US Code: 12 USC 4701 et seq. Name of Law: Community Development Banking and Finanacial Institutions Act of 1994
  

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
Certification of Material Events Form	CDFI Form 0037	Certification of Material Events Form

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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	200	200	0	0	0	0
Annual Time Burden (Hours)	50	50	0	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $0

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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

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: 06/29/2016

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