Electronic Arts (EA) has reported strong Q1 FY24 results, with record net bookings up 21% year-over-year. The success was driven by the popular EA SPORTS FIFA and Star Wars Jedi: Survivor games. EA’s CEO, Andrew Wilson, highlighted the company’s innovative entertainment experiences and upcoming highly anticipated titles. The CFO, Stuart Canfield, emphasized the focus on long-term growth and profitability. The report also highlighted the success of live services and other net bookings, representing 75% of total net bookings. The company repurchased shares and declared a quarterly cash dividend. Overall, EA’s financial performance points towards a promising future.
Check out the full release here: https://news.ea.com/press-releases/press-releases-details/2023/Electronic-Arts-Reports-Strong-Q1-FY24-Results/default.aspx
CDFI Fund Reminder: Annual Compliance, Certification and other Reporting Obligations
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 [email protected]. 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 [email protected].
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:
- Small Dollar Loan Fund Program Compliance Resources and Reporting (Updated – August 25, 2023)
- CDFI Program and NACA Program Compliance Resources and Reporting (Updated – August 25, 2023)
- Rapid Response Program Compliance Resources and Reporting (Updated – August 25, 2023)
- Capital Magnet Fund Compliance Resources and Reporting (Updated – June 14, 2023)
- NMTC Program Compliance Resources and Reporting Updated – December 5, 2022)
- Certification of Material Events Form
- ACR Information (Updated – March 8, 2023)
- AMIS Compliance and Performance Reporting (ACPR) (Updated – June 2023)
- Certification Blackout Period Frequently Asked Questions (Updated – February 3, 2023)
- AMIS Training Materials
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.
“The Impact of US-Philippine Defense Agreement on BPO Industry and Economic Growth”
The recently signed Enhanced Defense Cooperation Agreement (EDCA) between the United States and the Philippines has brought about unexpected economic growth for the Southeast Asian nation. The agreement, which was signed in 2014, focuses on strengthening the military alliance between the two countries, but it has also had a significant impact on the Philippine economy.
One of the key beneficiaries of the EDCA has been the business process outsourcing (BPO) industry. The Philippines has long been a hub for BPO companies, with its large English-speaking population and low labor costs making it an ideal location for call centers and other outsourced services. However, the EDCA has provided an additional incentive for American-owned BPO firms to expand their operations in the Philippines.
Under the agreement, the United States has increased its military presence in the Philippines, with American troops now able to use Philippine military bases for training and other activities. This has led to an influx of American personnel and their families, who require a range of services, including housing, transportation, and healthcare. BPO firms have been quick to capitalize on this opportunity, offering a wide range of services to American expatriates and their families.
The result has been a significant boost to the Philippine economy. According to a report by the Business Processing Association of the Philippines, the BPO industry in the country generated $26.3 billion in revenues in 2022, up from $24.6 billion in 2021. This growth has been driven in part by the increase in demand for BPO services from American expatriates.
The impact of the EDCA on the Philippine economy is not limited to the BPO industry. The agreement has also led to increased investment in the country from American companies, as well as greater cooperation between the two countries in areas such as trade and tourism. The Philippine government has welcomed these developments, seeing them as a way to boost economic growth and create jobs for its citizens.
Overall, the EDCA has had a positive impact on the Philippine economy, leading to increased investment, job creation, and economic growth. While the agreement was primarily focused on strengthening the military alliance between the United States and the Philippines, its unintended consequences have been a boon for the Southeast Asian nation.
Young Australians urged to pursue mining careers
Federal Resources Minister urges young Australians to consider mining careers for a sustainable future with energy security.
PERTH, Australia – The Federal Resources Minister of Australia, Madeleine King, has encouraged young Australians to consider employment in the mining sector to help the world decarbonize. Techforce, a leading labor hire company, supports this idea and suggests that the industry is making a positive difference towards a sustainable future.
The mining sector is committed to environmental sustainability and is actively working to reduce its environmental footprint.
Techforce points out that gas remains a crucial component in the processing of critical minerals and the production of batteries for storing renewable energy. Therefore, Australia’s coal and gas resources will continue to play an essential role in ensuring energy security and reliability for many years to come.
Techforce suggests that the mining industry offers a wide range of benefits, including excellent pay and conditions and opportunities for career advancement.
Young people interested in pursuing a career in mining can visit Techforce’s website to learn more about available job opportunities.
See the full press release here: https://www.newswire.com/news/young-people-urged-to-pursue-employment-in-mining-to-help-the-22031981
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