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Off-Balance Sheet Resource

A loan or other financial resource available to a CDFI through a third party, but which have not been "drawn down," or used. Perhaps the most common off-balance sheet resource is a line of credit. Only that portion of a line of credit that is drawn down, and thus is repayable, is reflected on a CDFI balance sheet. Undisbursed grants or multi-year contributions are not considered off-balance sheet resources.

Officer's Certificate

A document, signed by an authorized officer of an entity, which confirms certain facts to the counterparty of a transaction, often that no "event of default" exists under the agreement and that all warranties and representations in the agreement continue to be true and correct as of the closing date.

Opinion Letter

That part of an audit in which the accountant gives his/her opinion as to whether or not the financial statements are in accordance with generally accepted accounting principals and whether or not the financial statements represent fairly the financial position and change in financial position of the organization.

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