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Grant Community.com Catalog of Federal Domestic Assistance Program Descriptions |
CATALOG OF FEDERAL DOMESTIC
ASSISTANCE
10.852: Rural Phone Bank Loans
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| PROGRAM AND AWARD | FINANCIAL AND INFORMATION CONTACTS |
| ELIGIBILITY REQUIREMENTS | FINANCIAL AND ADMINISTRATIVE INFO. |
| APPLICATION AND AWARD PROCESS | INFORMATION CONTACTS |
| RELATED PROGRAMS | ASSISTANCE CONSIDERATIONS |
| PROGRAM ACCOMPLISHMENTS | POST ASSISTANCE REQUIREMENTS |
Applicant Eligibility: Borrowers, including those located in the U.S. Territories, or possessions which have received a loan or loan commitment under Section 201 of Rural Electrification Act or which have been certified by the Administrator as qualified to receive such a loan, are eligible to borrow from the Rural Phone Bank.
Beneficiary Eligibility: Residents of rural areas, and others who receive telecommunications service resulting from service provided to rural areas.
Credentials/Documentation: None. This program is excluded from coverage under OMB Circular No. A-87.
Preapplication Coordination: Applicants must supply environmental impact information to determine whether an environmental impact assessment or an environmental impact statement will be required. This program is excluded from coverage under E.O. 12372 and OMB Circular No. A-102.
Application Procedure: The completed loan application consists of 4 parts, an RUS Form 490, a market survey called Area Coverage Survey (ACS), and an Application for Phone Loan or Loan Guarantee. Detailed information for applying is in 7 CFR Parts 1610 and 1737, available from RUS upon request. This is the same procedure used when applying for an RUS phone loan. This program is excluded from coverage under OMB Circular No. A-110.
Award Procedure: Depending on the amount of the application, the Governor of the Rural Phone Bank (who is also the Administrator of RUS), Assistant Administrator, or the appropriate Area Director, makes the final decision, based upon a finding that the loan is economically feasible and serves the purposes of the Rural Electrification Act. Borrowers and Members of Congress are notified of loan approval directly, and the public is notified through normal media communications.
Deadlines: At the end of the second and fourth calendar quarters of each year, the Administrator shall submit to Congress, a report identifying each completed application for a phone loan that has not been finally acted upon within 90 days after the date the completed application is submitted.
Range of Approval/Disapproval Time: From 2 to 4 months.
Appeals: Not applicable.
Renewals: Not applicable.
Criteria for Selecting Proposals: Not applicable.
Examples of Funded Projects: Not applicable.
Range and Average of Financial Assistance: FY 99 $114,450 to $13,967,100; $7,040,775.
From October 1997 to September 30, 1999, 45 rural phone bank loans were made.
Federal Agency: RURAL UTILITIES SERVICE, (DEPARTMENT OF AGRICULTURE )
Type of Assistance: Direct Loans.
Obligations: (Direct Loans) FY 99 $157,509,000; FY 00 est $175,000,000; and FY 01 est $175,000,000.
Budget Account Number: 12-1231-0-1-452; 12-4231-0-3-452.
Authorization: Rural Electrification Act of 1936, as amended, Title IV, 7 U.S.C. 921a, 921b and 941-950b.
Regulations, Guidelines, and Literature: CFR-XVI. To the extent possible, the Rural Phone Bank will be covered by regulations, guidelines, and literature of the Rural Utilities Service phone loan program. RUS publishes and issues upon request technical operations manuals and bulletins covering financing, construction, operation, and maintenance of rural phone systems. There are available annual statistical summaries; and Rural Electrification Act of 1936, as amended.
Regional or Local Office: None.
Headquarters Office: Assistant Governor, Rural Phone Bank, Department of Agriculture, Washington, DC 20250. Phone: (202) 720-9554. Use the same number for FTS. (Home Page)
(See Appendix IV for more contact info.)
Formula and Matching Requirements: Obtaining a Rural Phone Bank loan will require obtaining a concurrent RUS phone loan. The statistical factor used for eligibility is any area of the United States not within the boundaries of any city, village or borough having a population over 5,000 (farm and nonfarm) and the source is the 1990 Decennial Census. The statistical factor used for fund allocation does not apply to this program.
Length and Time Phasing of Assistance: Loans can be made for up to 35 years (average loan maturity is 24 yrs). Provision is normally made for advances to be completed within 5 years, but this period is subject to extension if required. Advances of loan funds are made as required by the borrower.
Uses and Use Restrictions: Long-term loans to qualified organizations for the purpose of supplying and improving telecommunications services in rural areas.
Reports: Each Bank loan recipient must submit to RUS regularly scheduled operating reports showing financial condition and operating progress.
Audits: In accordance with the provisions of OMD Circular No. A-133 (Revised, June 24,1997), "Audits of States, Local Governments, and Non-Profit Organizations, nonfederal entities that receive financial assistance of $300.000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Nonfederal entities that expend less than $300,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in Circular No. A-133. All other borrowers have their books audited annually by a Certified Public Accountant. The information on audits of RUS borrowers is in 7 CFR, Part 1773.
Records: Each recipient must keep records prescribed for phone companies by the State regulatory body having jurisdiction, or by the Federal Communications Commission if there is no such regulatory body.
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