Data collection and reporting.

CFR · 2024-01-01 · US · Title 12

(a) (1) Disclose the manner in which CDFI Fund assistance is used; (2) Demonstrate compliance with the requirements of this part and an Assistance Agreement; and (3) Evaluate the impact of the CDFI Program. (b) (c) (d) (e) (1) (ii) For-profit organizations (excluding Insured CDFIs and State-Insured Credit Unions) must submit to the CDFI Fund financial statements audited in conformity with generally accepted auditing standards as promulgated by the American Institute of Certified Public Accountants, no later than six months after the end of the Recipient's fiscal year. (iii) Insured CDFIs are not required to submit financial statements to the CDFI Fund. The CDFI Fund will obtain the necessary information from publicly available sources. State-Insured Credit Unions must submit to the CDFI Fund copies of the financial statements that they submit to the Appropriate State Agency. (iv) If multiple for-profit organizations sign the Assistance Agreement: The Recipient may submit combined financial statements and footnotes for the Recipient and other entities that signed the Assistance Agreement as long as the financial statements of each signatory are shown separately (for example, in combining financial statements). (2) (ii) The CDFI Fund will use the Annual Report to collect data to assess the Recipient's compliance with its Performance Goals and the impact of the CDFI Program and the CDFI industry. (iii) Recipients are responsible for the timely and complete submission of the Annu

official document · source cfr-2024 · id 12:§ 1805.803