Receive a disbursement from the CDFI Fund in FY 2023? Have an active CDFI Fund award in FY 2023?
All organizations that received a disbursement of award funds from the CDFI Fund and/or have an active CDFI Fund award during October 1, 2022 through September 30, 2023 timeframe (regardless of program round) will soon be required to submit an SF-425 Federal Financial Report1 through their Awards Management Information System (AMIS) account by October 15, 2023.
This requirement will apply to organizations that obtained a disbursement of funds and/or have an active CDFI Fund award during the CDFI Fund’s federal fiscal year (FY) 2023 (October 1, 2022-September 30, 2023) in connection with any award provided under the Community Development Financial Institutions Program (CDFI Program), Native American CDFI Assistance Program (NACA Program), Capital Magnet Fund (CMF)2, Small Dollar Loan Program (SDL Program), as well as the Community Development Financial Institutions Rapid Response Program (CDFI RRP). CDFI Equitable Recovery Program (CDFI ERP) Recipients will be required to submit this report next federal fiscal year.
The CDFI Fund will be generating amendments to previously executed Assistance Agreements to reflect this new requirement. Additional communication on this process will be provided to Award Recipients directly through AMIS. Going forward, the SF-425 Report must be submitted every year, by October 15, throughout the award’s Period of Performance. Please note that all other terms and conditions of the existing Assistance Agreements remain unchanged.
Please note that the SF-425 requirements DOES NOT apply to organizations receiving assistance under the Bank Enterprise Award Program , CDFI Bond Guarantee Program, or New Markets Tax Credit Program.
The CDFI Fund will soon make available the SF-425 for submission in AMIS and post instructions on its website on submitting the report. If you are unsure if your organization is required to submit this report, the CDFI Fund will also be updating the organizational Reporting Schedules in AMIS—check there in the coming weeks to see if your organization is required to submit an SF-425.
If you have questions about this reporting requirement or require technical assistance, please submit a Service Request via your organization’s AMIS account.
1The SF-425 is a post-award reporting form that collects data on the expenditure of federal grant funds. Organizations will report how much CDFI Fund award dollars were expended during the 10/1/2022-9/30/2023 timeframe, as well as the cumulative amount expended as of the award announcement date through 9/30/2023.
2For CMF, the SF-425 submission requirement applies to those organization that received a disbursement during federal FY 2023 or have active CMF Awards that are in their Investment Period.
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