83 FR 8650 - Proposed Information Collection; Comment Request; Quarterly Financial Report

DEPARTMENT OF COMMERCE
Census Bureau

Federal Register Volume 83, Issue 40 (February 28, 2018)

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.

[Federal Register Volume 83, Number 40 (Wednesday, February 28, 2018)]
[Notices]
[Pages 8650-8651]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-04077]


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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.

DATES: To ensure consideration, written comments must be submitted on 
or before April 30, 2018.

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-6K181, 
Washington, DC 20233, Telephone (301) 763-6600 (or via the internet at 
[email protected]).

SUPPLEMENTARY INFORMATION: 

I. Abstract

    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 (manufacturing, 
mining, wholesale trade, and retail trade); QFR 201 (MG) short form 
(manufacturing); and the QFR 300 (S) long form (information services 
and professional and technical services). The Census Bureau is not 
requesting any changes to the current forms.
    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.
    The QFR program is a principal federal economic indicator that has 
published up-to-date aggregate statistics on the financial results and 
position of U.S. corporations since 1947. The QFR provides critical 
source data to the Bureau of Economic Analysis' (BEA) quarterly 
estimates of Gross Domestic Product (GDP) and Gross Domestic Income 
(GDI), key components of the National Income and Product Accounts 
(NIPA). The QFR data are also vital to the Federal Reserve Board's 
(FRB) Financial Accounts. Title 13 of the United States Code, Section 
91 requires that financial statistics of business operations be 
collected and published quarterly. Public Law 114-72 extended the 
authority of the Secretary of Commerce to conduct the QFR Program under 
Section 91 through September 30, 2030.
    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. Primary public users include U.S. 
governmental organizations with economic measurement and policymaking 
responsibilities such as the Bureau of Economic Analysis, the Bureau of 
Labor Statistic and the Federal Reserve Board. In turn, these 
organizations provide guidance, advice, and support to the QFR program. 
The primary non-governmental 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 has automatic data checks and is 
context-sensitive to assist respondents in identifying potential 
reporting problems before submission, thus reducing the need for 
follow-up from Census Bureau staff. Data collection through Centurion 
is completed via the internet, eliminating the need for downloading 
software and ensuring 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. Census 
Bureau staff contact companies that have not responded by the 
designated time through letters and/or telephone calls to encourage 
participation.

III. Data

    OMB Control Number: 0607-0432.
    Form Number(s): QFR 200 (MT), QFR 201 (MG) and QFR 300 (S).
    Type of Review: Regular submission.
    Affected Public: Manufacturing corporations with assets of $250,000 
or more and 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)--5,200 per quarter = 20,800 annually
Form QFR 201 (MG)--5,500 per quarter = 22,000 annually
Form QFR 300 (S)--1,550 per quarter = 6,200 annually
Total 49,000 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: 107,400 hours.
    Estimated Total Annual Cost to Public: $0. (This is not the cost of 
respondents' time, but the indirect costs respondents may incur for 
such things as purchases of specialized software or hardware needed to 
report, or expenditures for accounting or records maintenance services 
required specifically by the collection.)
    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

[[Page 8651]]

included in the request for OMB approval of this information 
collection; they also will become a matter of public record.

Sheleen Dumas,
Departmental Lead PRA Officer, Office of the Chief Information Officer.
[FR Doc. 2018-04077 Filed 2-27-18; 8:45 am]
 BILLING CODE 3510-07-P