80 FR 17411 - Proposed Information Collection; Comment Request; Quarterly Financial Report

DEPARTMENT OF COMMERCE
Census Bureau

Federal Register Volume 80, Issue 62 (April 1, 2015)

The Department of Commerce, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).

[Federal Register Volume 80, Number 62 (Wednesday, April 1, 2015)]
[Notices]
[Pages 17411-17412]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-07435]


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DEPARTMENT OF COMMERCE

Census Bureau


Proposed Information Collection; Comment Request; Quarterly 
Financial Report

AGENCY: U.S. Census Bureau, Commerce.

ACTION: Notice.

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SUMMARY: The Department of Commerce, as part of its continuing effort 
to reduce paperwork and respondent burden, invites the general public 
and other Federal agencies to take this opportunity to comment on 
proposed and/or continuing information collections, as required by the 
Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)).

[[Page 17412]]


DATES: To ensure consideration, written comments must be submitted on 
or before June 1, 2015.

ADDRESSES: Direct all written comments to Jennifer Jessup, Departmental 
Paperwork Clearance Officer, Department of Commerce, Room 6616, 14th 
and Constitution Avenue NW., Washington, DC 20230 (or via the Internet 
at [email protected]).

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection instrument(s) and instructions 
should be directed to Brandi Maxson, U.S. Census Bureau, HQ-6K083, 
Washington, DC 20233, Telephone (301) 763-6600 (or via the Internet at 
[email protected]).

SUPPLEMENTARY INFORMATION 

I. Abstract

    This request is for extension of a currently approved information 
collection.
    The Census Bureau is planning to resubmit to the Office of 
Management and Budget for approval, the Quarterly Financial Report 
(QFR) Program information collection forms. The QFR forms to be 
submitted for approval are: The QFR 200 (MT) long form; QFR 201 (MG) 
short form; and the QFR 300 (S) long form.
    The QFR program collects and publishes up-to-date aggregate 
statistics on the financial results and position of U.S. corporations. 
The QFR target population consists of all corporations engaged 
primarily in manufacturing with total assets of $250,000 and over, and 
all corporations engaged primarily in mining; wholesale trade; retail 
trade; information; or professional and technical services (except 
legal services) industries with total assets of $50 million and over.
    QFR's last submission for forms approval included an announcement 
of an expansion of its coverage to include four new service sectors. 
The new sectors included subsectors in Sector 53 (Real Estate and 
Rental and Leasing), excluding subsector 533 (Lessors of Nonfinancial 
Intangible Assets); Sector 56 (Administrative and Support and Waste 
Management and Remediation Services); Sector 62 (Health Care and Social 
Assistance); and Sector 72 (Accommodation and Food Services) based on 
the 2007 North American Industry Classification System (NAICS). 
However, on June 9, 2014, the QFR ceased collection of these additional 
sectors due to sample restrictions and budget constraints. Notification 
of this change was announced on the QFR Business Help Site (BHS) Web 
site and the QFR Publication.
    The QFR Program has published up-to-date aggregate statistics on 
the financial results and position of U.S. corporations since 1947. The 
QFR is a principal economic indicator that also provides financial data 
essential to the estimation of key Government measures of national 
economic performance. The importance of this data collection is 
reflected by the granting of specific authority to conduct the program 
in Title 13 of the United States Code, Section 91, which requires that 
financial statistics of business operations be collected and published 
quarterly. Public Law 109-79 extended the authority of the Secretary of 
Commerce to conduct the QFR Program under Section 91 through September 
30, 2015. Currently, QFR is in the process of reauthorizing this public 
law.
    The main purpose of the QFR is to provide timely, accurate data on 
business financial conditions for use by Government and private-sector 
organizations and individuals. The primary public users are U.S. 
Governmental organizations with economic measurement and policymaking 
responsibilities such as Bureau of Economic Analysis, Bureau of Labor 
Statistic and Federal Reserve Board. In turn, these organizations play 
a major role in providing guidance, advice, and support to the QFR 
Program. The primary private-sector data users are a diverse group 
including universities, financial analysts, unions, trade associations, 
public libraries, banking institutions, and U.S. and foreign 
corporations.

II. Method of Collection

    The Census Bureau uses two forms of data collection: Mail out/mail 
back paper survey forms, and a secure encrypted Internet data 
collection system called Centurion. Centurion provides improved quality 
with automatic data checks and is context-sensitive to assist the data 
provider in identifying potential reporting problems before submission, 
thus reducing the need for follow-up. Centurion is completed via the 
Internet eliminating the need for downloading software and increasing 
the integrity and confidentiality of the data.
    Companies are asked to respond to the survey within 25 days of the 
end of the quarter for which the data are being requested. Letters and/
or telephone calls encouraging participation are directed to companies 
in the survey sample that have not responded by the designated time.

III. Data

    OMB Control Number: 0607-0432.
    Form Number: QFR 200 (MT), QFR 201 (MG) and QFR 300 (S).
    Type of Review: Regular (extension of a currently approved 
information collection).
    Affected Public: Manufacturing corporations with assets of $250 
thousand or more Mining, Wholesale Trade, Retail Trade, Information, 
Professional, Scientific, and Technical Services (excluding legal) with 
assets of $50 million or more.
    Estimated Number of Respondents:

Form QFR 200 (MT)--4,800 per quarter = 19,200 annually
Form QFR 201 (MG)--5,750 per quarter = 23,000 annually
Form QFR 300 (S)--1,350 per quarter = 5,400 annually
Total 47,600 annually
    Estimated Time Per Response:
    Form QFR 200 (MT)--Average hours: 3.0
    Form QFR 201 (MG)--Average hours: 1.2
    Form QFR 300 (S)--Average hours: 3.0
    Estimated Total Annual Burden Hours: 101,400 hours.
    Estimated Total Annual Cost: $0 in recordkeeping/reporting costs.
    Respondent's Obligation: Mandatory.
    Legal Authority: Title 13 U.S.C. Sections 91 and 224.

IV. Request for Comments

    Comments are invited on: (a) Whether the proposed collection of 
information is necessary for the proper performance of the functions of 
the agency, including whether the information shall have practical 
utility; (b) the accuracy of the agency's estimate of the burden 
(including hours and cost) of the proposed collection of information; 
(c) ways to enhance the quality, utility, and clarity of the 
information to be collected; and (d) ways to minimize the burden of the 
collection of information on respondents, including through the use of 
automated collection techniques or other forms of information 
technology.
    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval of this information 
collection; they also will become a matter of public record.

     Dated: March 27, 2015.
Sarah Brabson,
NOAA PRA Clearance Officer, submitting for Census.
[FR Doc. 2015-07435 Filed 3-31-15; 8:45 am]
 BILLING CODE 3510-07-P