fbpx
Connect with us

Business and Finance

CDFI Fund Reminder: Annual Compliance, Certification and other Reporting Obligations

Published

on

Reminder: Annual Compliance, Certification and Reporting Obligations

Are you the Authorized Representative of either a Certified Community Development Financial Institution (CDFI) or an organization that has received a Community Development Financial Institutions Fund (CDFI Fund) Award and/or Allocation? If so, don’t forget that in order to maintain your organization’s CDFI Certification status, you must submit the Annual Certification and Data Collection Report (ACR). Additionally, to ensure compliance with your Award, Assistance and/or Allocation Agreement(s) you must complete and submit the annual report(s) specified in these agreement(s).  

Failure to file required annual compliance and Certification reports or advise the CDFI Fund of certain Material Events may result in default and/or noncompliance with your organization’s Award, Assistance and/or Allocation Agreement(s), or termination of your CDFI Certification.

The due dates to submit annual compliance report(s) vary by fiscal year end date and type of award, as well as by the specific terms within each organization’s individual Award, Assistance and/or Allocation Agreement(s). The due date for Certified CDFIs to submit the ACR also varies by fiscal year end date. This reminder is specifically for organizations with Award, Assistance and/or Allocation Agreements, as well as ACRs, which have an upcoming report(s) due by September 30, 2023.

While the CDFI Fund is still currently not accepting NEW CDFI Certification Applications, Certified CDFIs are still required to submit an ACR in accordance with their existing ACR reporting schedule, as listed in the Awards Management Information System (AMIS), to maintain their Certification status.

How to Check Your Report Date

  • CDFI Fund Recipients and/or Allocatees: The due date(s) for your organization’s required report(s) can be found in the Award, Assistance and/or Allocation Agreement(s) on the Reporting Schedule in AMIS. Please review the Agreement(s) applicable to your organization to check if you are required to report at this time and for additional information about annual reporting requirements.
  • All Certified CDFIs:  The due date(s) for your organization’s Annual Certification and Data Collection Report can be found in the ACR Reporting Schedule in AMIS. Please review the ACR Reporting Schedule in AMIS to check if you are required to report at this time.

Extension for CDFI/NACA/RRP and NMTC Transaction Level Report Due Dates

All CDFI/NACA/RRP Award Recipients and NMTC Allocatees with a TLR due date between 8/31/2023 and 11/30/2023 have a new due date of 12/31/2023. This due date change was done so that the CDFI Fund could implement changes in AMIS to the CDFI/NACA/RRP TLR and NMTC Allocatee TLR. At this time, the Organization Name Look-up Capability in AMIS for the TLRs is disabled until the CDFI Fund completes its deployment later this year of new features to the TLR for the CDFI, NACA, RRP, and NMTC programs. Users may still access the geocoding Import and Template download at the bottom of the TLR page in AMIS. If you have any questions, please submit an AMIS service request with “TLR Upload Lockout” as the subject heading. The CDFI Fund will send out an email once the TLRs have fully reopened in AMIS.

Annual Certification and Data Collection Report Deadline Reminder

All Certified CDFIs are required to submit ACRs on an annual basis. CDFIs must submit their ACRs, in AMIS, within 90 days of the end of their organization’s fiscal year, unless directed otherwise by the CDFI Fund. 

For the 2023 reporting cycle, all Certified CDFIs, regardless of their date of Certification, will be required to submit an ACR. Currently Certified CDFIs will NOT lose their Certification or be placed into a cure based on accurate analysis or responses to the 2023 ACR. However, an organization may have its Certification terminated if they fail to submit their 2023 ACR by the required deadline. Submission of the ACR on an annual basis is a requirement of CDFI Certification.

The AMIS ACR Reporting Schedule displays the due date for the ACR based on the organization’s fiscal year end, unless directed otherwise by the CDFI Fund. If an organization received its initial CDFI Certification after the 2023 ACR reporting cycle opened in December 2022, then its 2023 ACR due date is more than likely not within the 90 days of the end of the organization’s fiscal year window. The ACR Reporting Schedule section is located at the bottom of the Certification Related page in AMIS. Additional information on the AMIS Reporting Schedule can be found in the AMIS Training Manual – Annual Certification and Data Collection Report available on the CDFI Fund’s website. Be sure to check whether your organization’s fiscal year end is correct on your AMIS Organizational Detail Page.

Failure to file the required ACR will result in a loss of status as a Certified CDFI and may lead to additional sanctions for CDFIs that are program Recipients.

Advise the CDFI Fund of Material Events

As specified in the terms of your organization’s Award, Assistance and/or Allocation Agreement(s), please remember that your organization is required to advise the CDFI Fund of an occurrence of a Material Event, which should be submitted via a Service Request initiated in your organization’s AMIS account. CDFI Fund Recipients with active awards are required to submit a Material Events form within 30 days of the occurrence of a material event. New Market Tax Credit Program (NMTC Program) Allocatees are required to submit a Material Events form within 20 days of the occurrence of material event, including all necessary supporting documentation with the Material Events form submission. Please refer to your Award, Assistance and/or Allocation Agreements(s) for guidance regarding submission of a Material Events form.

The CDFI Fund is reminding all Certified CDFIs, Certified CDEs, as well as program Recipients and/or Allocatees to review their recent organizational history to determine if a Material Events form should be submitted. Certified CDFIs that do not have an Award, Assistance and/or Allocation Agreement should report changes in their organization’s fiscal year end through the AMIS Service Request portal.

Submission of Audit Confirmation Requests

Hard copy submissions of CDFI audit confirmation requests for information should no longer be mailed to the CDFI Fund. CDFI Recipient auditors should now submit all audit confirmation requests via email to FMAuditConfirmations@cdfi.treas.gov. This includes but is not limited to verifications, validations, and confirmation of balances of financial assistance received from the CDFI Fund.

The CDFI Fund will respond to all audit confirmation requests by email, only. As such, requests must include an email address and instructions of where the CDFI Fund should deliver the requested information. Questions regarding the process for submitting audit confirmation requests can also be submitted via email at FMAuditConfirmations@cdfi.treas.gov.

Updates for CDFI Program Healthy Food Financing Initiative-Financial Assistance Award Recipients

All CDFI Program Healthy Food Financing Initiative-Financial Assistance Recipients (HFFI) are now required to enter aggregate HFFI data in their Performance Progress Report (PPR), just as they enter aggregate data for the other deployment performance goals. Keep in mind, HFFI Recipients must continue to enter individual HFFI data in the CDFI Transaction Level Report (TLR).

For More Information

The CDFI Fund has developed training materials to help users better navigate AMIS. All AMIS training manuals and information can be found on the AMIS Training Materials page at https://amis.cdfifund.gov/Training. Information and instructions on submitting annual compliance and certification reports, as well as Material Events forms can be found on the CDFI Fund’s website at the following links:

If you have questions about the annual compliance and certification reports, or Material Events please submit a Service Request via your organization’s AMIS account. For more information about the CDFI Fund and its programs, please visit www.cdfifund.gov.

Continue Reading
Advertisement Bully Sticks

Consumer Corner

5 Home Updates to Provide Peace of Mind for Your Family

Published

on

(Family Features) Home improvement projects often focus on updating the aesthetic of your house, but upgrades that make your living space more secure and comfortable for you and your family are sometimes even more important.

From your front door to the interior of your home and more, these ideas from the experts at Masonite, a global industry leader in interior and exterior doors, can help provide greater peace of mind – ensuring what matters most is always protected.

Ensure Your Home is Well-Lit
A well-lit home exterior makes it easier to spot potential threats and may even deter people and animals that don’t belong on your property. Automatic outdoor lighting, either set to a timer or triggered by motion or light sensors, can help you see what’s going on outside. Ensure fixtures on your porch, patio and garage are in good working order and replace burned out bulbs or lights that no longer function. Adding landscape lighting can also aid in security while boosting curb appeal.

Protect Your Home with a Secure Front Door
Upgrading your front door can do much more than just improve the look of your home – it’s also an important part of providing enhanced security for you and your family. With four times more impact resistance than a standard deadbolt lock, the M-Protect Multi-Point Security Lock offers homeowners unmatched protection to keep what matters most safe. The lock works like a standard deadbolt, but with more points of contact, and it is compatible with a wide array of handle sets and hardware, including electronic deadbolts. It can be added to any Masonite Performance Door System – an innovative solution that provides superior energy efficiency, performance and comfort – which is available in a diverse range of finishes, colors and glass styles to fit any home design.

Reduce Fire Hazards
Many elements of a home like furnaces, chimneys, hot water heaters and other gas appliances provide value to homeowners through comfort and convenience but can pose risks without proper maintenance. Hiring a professional to check your heating and air conditioning system annually can help you avoid costly repairs while also protecting your loved ones. Keeping the chimney clean of debris, creosote and soot helps lower fire risk and ensures smoke, carbon dioxide and other gases are safely carried out of the home.

Control Home Systems On the Go
Installing security systems, doorbells, lighting and other systems that can be controlled from a smartphone app, like the Masonite M-Pwr Smart Door, can provide added convenience and peace of mind. You can remotely turn lights on and off, unlock doors, change the temperature, open or close garage doors and check camera feeds while away.

Replace Smoke and Carbon Monoxide Detectors
A simple project to make your home safer, it’s essential to check your smoke detectors regularly and replace the batteries every six months. If you discover the date of manufacture on the back of your smoke detectors is more than 10 years ago, replacement is recommended by the National Fire Protection Association. While checking your smoke detectors, test or install carbon monoxide alarms to ensure you have a way to detect the invisible, odorless gas that can cause serious health problems if left unchecked.

Visit Masonite.com/mprotect to learn more about the latest innovations in home security.


SOURCE:
Masonite

Continue Reading

financial wellness

Moving Season Security: 6 solutions to safeguard valuables

Published

on

(Family Features) It’s moving season, which means packing up valuables like tech devices, family heirlooms, jewelry and beyond and trusting they’ll make it safely to your new space. Ensuring a new home or apartment is properly secured is top of mind for many homeowners and renters, for both their personal safety and their most prized possessions.

After moving into a new space, there’s an immediate need to keep valuables and important documents organized and secure in case of theft, fire or flood. Whether or not a large security system is available on-site, Master Lock and SentrySafe’s DIY security and safety solutions equip your home with an extra line of defense and provide new homeowners and renters confidence.

To discover which security and safe storage solutions are right for you, visit MasterLock.com and SentrySafe.com.

Bar the Door

Designed with customer feedback in mind, the Master Lock 270D Folding Door Bar is a reliable, on-the-go solution that’s perfect for securing entry doors during a move-in transition. It offers an updated design from the original – now more compact with a quick-release foldable design for ultimate convenience and portability. Folding to just 16.5 inches and extending up to 43.5 inches, it’s small enough to fit in a backpack but strong enough to prevent forced entry on hinged, patio and sliding doors due to the pivoting rubber grips.

Keep Your Property Secure

Ideal for property access control, the Master Lock 5480D Portable Lock Box is the newest lock box and features expanded storage capacity to accommodate keys, fobs and cards, ensuring safety and convenience when accessing a home or apartment. The dials on the lock box are easy to read and grip, providing smooth operation. Built to last, the solid metal body with a rubber bumper protects against tampering while safeguarding surfaces from scratches and damage.

Turn to a Timeless Security Device

Keeping valuables secure can start with a tried-and-true classic solution. The discus-shaped Master Lock 40DPF Padlock features a wide stainless-steel body for maximum strength, reliability and corrosion resistance. With a fully shrouded design that minimizes shackle exposure to protect against bolt cutters, this versatile security device can be used for a wide range of applications. Extend the security of your valuables during a move by using it on self-storage units and lockers, trailers, vans and moving trucks.

Fireproof and Protect Valuables at Home

Consider the SentrySafe FPW082HTC Fireproof and Waterproof Safe as your go-to line of defense against fire, water and theft with .81 cubic feet of storage. Weighing roughly 55 pounds, this best-in-class fire and water protection solution features 1-hour UL-certified fire resistance at 1,700 F and ETL-verified protection in up to 5 inches of water for 24 hours. This first-of-its-kind safe with Master Lock security built-in technology offers an advanced, multi-point protection system that effectively resists physical attacks and lock manipulation while its pry-resistant hinge bar in the safe door protects against theft attempts.

Safeguard Documents and Files

Provide yourself an extra line of defense with the SentrySafe FHW40100 Digital Fireproof/Waterproof File Safe that safeguards important documents and records with a durable design and peril protection. Built to hold hanging file folders for easy organization, the safe can be easily transported with its convenient carrying handle when moving into a new home or apartment. It’s UL-classified to offer 30 minutes of certified fire resistance at 1,550 F and ETL-verified to protect documents and digital media in the event of a flood for up to 72 hours.

Opt for Renter-Friendly Security

Renters who live in a small space may not be ready for a full-sized safe. The lightweight SentrySafe 1200 Fire Chest is an affordable and convenient security solution that safeguards precious valuables and electronics from theft attempts to keep items safe and sound. Its convenient carrying handle allows users to easily move the chest from room to room and seamlessly pack and store their valuables at the end of their lease.

Photo courtesy of Shutterstock (family moving boxes)


SOURCE:
Master Lock



Master Lock

Continue Reading

financial wellness

Turn Your Tax Refund Into a New Ride

As tax refunds are beginning to come in, it’s an excellent opportunity for people to explore different investment avenues and make the most of their money.

Published

on

Make a major purchase more manageable

(Family Features) With tax refunds starting to flow in, many people are considering ways to invest their money.

If you’re looking to purchase a vehicle, putting your tax refund toward a down payment on a used car can be a smart financial decision for several reasons – from reduced interest rates on your loan and shortened loan terms to lower monthly payments – and the timing is right to take advantage of improving market conditions. Consider this information to help make an informed buying decision.

Lower Your Monthly Payment
The more you can invest in the down payment of a vehicle, the lower your monthly cost will typically be and the less interest you will typically pay over the length of the loan. This can lead to smaller, more manageable monthly payments.

A significant down payment can also help offset higher-than-average interest payments and could lead to a shorter term, meaning less total accrued interest. An auto loan calculator can show you how a down payment can affect interest charges.

More Affordable Vehicle Options
Used car prices have been trending downward month-over-month, according to the Bureau of Labor Statistics’ consumer price index. These decreases in used car prices are helping offset higher than normal interest rates. The average sales price for a pre-owned vehicle through Enterprise Car Sales, for example, is approximately $21,000 right now, compared to average new car prices, which are hovering around $44,000.

Vehicle inventory is improving along with an increase in consumer demand for cars, which makes now an attractive time to buy. Many used car sellers feature inventory that is readily available so you can select from options you know are in stock, including different makes and models with a wide range of different features that can offer more affordable options.

“We have a large inventory of vehicles across the country currently priced under $20,000,” said Mike Bystrom, vice president of Enterprise Car Sales. “There are several considerations to keep in mind when shopping for a vehicle, and there is no one-size-fits-all approach. Consumers should weigh their options, but the one thing they shouldn’t compromise on is receiving great customer service.”

Protect Your Purchase
Ensuring your purchase is protected is also a smart financial decision. Take advantage of dealers that offer additional benefits to help protect your purchase and provide peace of mind that your tax refund has been well spent.

Look for a used vehicle that has passed an inspection by an ASE-certified technician and comes with a limited powertrain warranty, as well as extra coverage options such as roadside assistance and a return policy up to a certain amount of days or mileage.

With a little research and careful planning, you can find a reliable used car that meets your needs and puts your tax refund to good use. Visit enterprisecarsales.com for more information.


SOURCE:
Enterprise Car Sales

Continue Reading

Trending