Annual Compliance Reports

ICR 202109-1559-001

OMB: 1559-0050

Federal Form Document

ICR Details
1559-0050 202109-1559-001
Received in OIRA 201808-1559-001
TREAS/CDFIF
Annual Compliance Reports
No material or nonsubstantive change to a currently approved collection   No
Regular 09/09/2021
  Requested Previously Approved
04/30/2023 04/30/2023
2,578 1,715
1,290 858
0 0

This collection captures quantitative information from Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) recipients. This information is used to assess: (1) The recipient's activities as detailed in their application materials; (2) the recipient's approved use of the assistance; (3) the recipient's financial condition; and (4) overall compliance with the terms and conditions of the assistance agreement entered into by the CDFI Fund and the recipient.

None
None

Not associated with rulemaking

  83 FR 19402 05/02/2018
83 FR 43736 08/27/2018
Yes

  Total Request 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 2,578 1,715 0 863 0 0
Annual Time Burden (Hours) 1,290 858 0 432 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Miscellaneous Actions
No
As authorized by the Consolidated Appropriations Act, 2021 (Pub. L. 116-260), the Community Development Financial Institutions Fund (CDFI Fund) has launched the CDFI Rapid Response Program (RRP) to provide grants to Community Development Financial Institutions (CDFIs) to support, prepare for, and respond to the economic impact of the COVID–19 pandemic. CDFI RRP utilizes existing evaluation and compliance reporting mechanisms already in place for the CDFI Program. Per Congressional directive, the application process has been completed and awards were announced by the CDFI Fund on June 15, 2021. The CDFI Fund is requesting a non-substantive change request to the existing Performance Progress Report (PPR) (OMB Control #1559-0050) for CDFI RRP Recipients. The CDFI RRP is a one-time supplemental award and will not continue after two-years of reporting by program recipients. The CDFI RRP Performance Goals will be added to the existing PPR data collection form, and CDFI RRP Recipients will be required to respond to the questions by providing numerical figures. The addition of these RRP data points to the existing form should require minimal additional burden and so the estimate for completing the form will remain 30 minutes per response. 863 CDFIs received RRP funds and will thus complete an additional Performance Progress Report, increasing the total burden for 1559-0050 by 432 hours.

$196,000
No
    No
    No
No
No
No
Yes
Tanya McInnis 202 653-0309 [email protected]

  No

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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
09/09/2021


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