Homeowner Assistance Fund
1505-0269
Request for Non-substantive Change: HAF Financial Closeout
March 13, 2024
The US Department of the Treasury is submitting a request for non-substantive change to OMB Control Number 1505-0269 to ask Participants two new questions as part of the Homeowner Assistance Fund (HAF) closeout process.
The HAF program is at the stage of preparing financial closeout calculations and processes, as some participants are now requesting for early closeout. To accurately calculate each participant’s total balance due to Treasury at closeout, the program plans to develop a module to request participants to confirm each component of the calculation: total award amount disbursed by Treasury, total award amount obligated by recipient, total unresolved disallowed costs, total program income earned, and total earned interest due back to Treasury. Participants will review each figure and will be permitted to make updates to figures previously submitted in their final Quarterly Report, if applicable, and will have the opportunity to provide an explanation for any updates since final report submission.
Participants will also be asked two questions related to earned interest that will be needed to calculate the total unobligated amount due back to Treasury. Treasury believes that these additional questions would be a non-substantive change as they are certifications/affirmations which are not being used for compliance monitoring purposes, but solely to determine outstanding balance due to Treasury at closeout.
The two earned interest questions below are new variations of an existing question in the HAF Annual Report Certification section outlined in Section III.g of the HAF Annual Report User Guide and Section 1.15 of the HAF Reporting FAQs. We expect our recipients are already aware of the underlying Federal regulations and are already collecting the information for the two questions as part of their existing annual reporting, so there is no expected change in the estimated burden. The two questions ensure recipients are meeting the federal payment requirements of 2 CFR 200.305.
New Earned Interest Questions for HAF Financial Closeout:
How much earned interest have you expended over the life of the program, not including the current fiscal year?
How much interest have you earned on HAF awards in the current fiscal year to date until the last day of the prior month?
Existing Earned Interest Question in HAF Annual Report:
How much in interest did you earn on HAF award funds in the last fiscal year?
| File Type | application/vnd.openxmlformats-officedocument.wordprocessingml.document |
| Author | Spencer Clark |
| File Modified | 0000-00-00 |
| File Created | 2024-07-26 |