Quarterly Financial Report, 9920-9921 [E7-3879]

Agencies

• Census Bureau
• DEPARTMENT OF COMMERCE

[Federal Register Volume 72, Number 43 (Tuesday, March 6, 2007)]
[Notices]
[Pages 9920-9921]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-3879]


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DEPARTMENT OF COMMERCE

Census Bureau


Quarterly Financial Report

ACTION: Proposed information collection; comment request.

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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)).

DATES: Written comments must be submitted on or before May 7, 2007.

ADDRESSES: Direct all written comments to Diana Hynek, Departmental 
Paperwork Clearance Officer, Department of Commerce, Room 6625, 14th 
and Constitution Avenue, NW., Washington, DC 20230 (or via the Internet 
at dHynek@doc.gov).

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection instrument(s) and instructions 
should be directed to Yolando M. St. George, U.S. Census Bureau, HQ-
6K181, Washington, DC 20233, Telephone (301) 763-6600.

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. In an effort to reduce the 
reporting burden for the QFR, the Census Bureau has consolidated two of 
its forms into one and eliminated form QFR 103 (NB). The QFR forms 
submitted for approval are: QFR 200 (MT) which consolidates the QFR 101 
(MG) and QFR 102 (TR) long forms; and QFR 201 (MG), which is the 
renumbered QFR 101A (MG) short form. The eliminated form, QFR 103 (NB), 
was a classification form used to determine the North American Industry 
Classification System (NAICS) industry of respondents. The QFR is now 
using other sources available to the Census Bureau for classification.
    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 calculation 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.
    The current scope of the QFR includes corporations in the Mining, 
Manufacturing, Wholesale Trade, and Retail Trade sectors. 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 policymaking responsibilities. 
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 will primarily use mail out/mail back survey 
forms to collect the QFR data discussed in this notice. Companies will 
be 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 will be directed to companies 
in the survey sample that have not responded by the designated

[[Page 9921]]

time. During the third quarter of 2006, the QFR Program introduced an 
encrypted Internet Data Collection System (Census Taker) for optional 
use as a substitute for the paper form mailed to all companies. Census 
Taker is an electronic version of the data collection instrument. It 
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. Census Taker is completed via the Internet eliminating the 
need for downloading software and increasing the integrity and 
confidentiality of the data.

III. Data

    OMB Number: 0607-0432.
    Form Number: QFR 200 (MT), and QFR 201 (MG).
    Type of Review: Regular review.
    Affected Public: Manufacturing corporations with assets of $250 
thousand or more and Mining, and Wholesale and Retail Trade 
corporations with assets of $50 million or more.
    Estimated Number of Respondents:

Form QFR 200 (MT)--4,108 per quarter = 16,432 annually
Form QFR 201 (MG)--4,543 per quarter = 18,172 annually
Total--34,604 annually

    Estimated Time per Response:

Form QFR 200 (MT)--Average hours 3.0
Form QFR 201 (MG)--Average hours 1.2

    Estimated Total Annual Burden Hours: 71,000.
    Estimated Total Annual Cost: $1.8 million.
    Respondent's Obligation: Mandatory.
    Legal Authority: Title 13 United States Code, 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 1, 2007.
Gwellnar Banks,
Management Analyst, Office of the Chief Information Officer.
 [FR Doc. E7-3879 Filed 3-5-07; 8:45 am]
BILLING CODE 3510-07-P