[Federal Register Volume 66, Number 50 (Wednesday, March 14, 2001)]
[Notices]
[Pages 14882-14883]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-6250]


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DEPARTMENT OF COMMERCE

Census Bureau


Quarterly Financial Report; Proposed Information Collection

ACTION: Proposed collection; comment request.

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SUMMARY: The Department of Commerce, as part of its continuing effort 
to reduce paperwork and respondent burden, invite 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 14, 2001.

ADDRESSES: Direct all written comments to Madeleine Clayton, Department 
Forms Clearance Officer, Department of Commerce, Room 6086, 14th and 
Constitution Avenue, NW., Washington, DC 20230 (or via the Internet at 
[email protected]).

FOR FURTHER INFORMATION CONTACT: Request for additional information or 
copies of the questionnaire should be directed to Ronald Horton, U.S. 
Census Bureau, Room 1282-3, Washington, DC 20233, Telephone (301) 457-
3343.

SUPPLEMENTARY INFORMATION:

I. Abstract

    The Quarterly Financial Report (QFR) Program is planning to 
resubmit for approval to the Office of Management and Budget (OMB) its 
four data collection forms: Quarterly Financial Report Forms QFR-101 
(MG)--long form, QFR-102 (TR)--long form, and QFR-101A(MG)--short form, 
and QFR-103 (NB)--Nature of Business Report. The current expiration for 
these forms is December 31, 2001.
    The QFR Program has published up-to-date aggregate statistics on 
the financial results and position of U.S. corporations since 1947. It 
is a principal economic indicator that also provides financial data 
essential to 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 State Code, Section 91, which requires that 
financial statistics of business operations be collected and published 
quarterly. Public Law 105-252 extended the authority of the Secretary 
of Commerce to conduct the QFR Program under Section 91 through 
September 30, 2005.
    The QFR is scheduled to convert to the North American Industry 
Classification System (NAICS) in April 2002 with the publication of the 
fourth quarter 2001 data. With the adoption of the NAICS, a number of 
industries currently covered by QFR under the Standard Industrial 
Classification (SIC) system will be out of scope. Specifically, QFR 
will no longer collect data from companies primarily engaged in 
Publishing and Printing, except Commercial Printing; Logging; and 
Eating and Drinking Places. Publishing and Printing was moved to the 
NAICS' Information sector; Logging to the Agriculture, Forestry, 
Fishing, and Hunting sector; Eating and Drinking Places to the 
Accommodation and Food Services sector. Removal of companies previously 
operating in these industries will result in a reduction in sample 
size. That reduction is estimated to be approximately 350 companies or 
about 4 percent of the current QFR sample. The reduction in the out of 
scope SIC companies will offset an increase of in-scope NAICS 
companies. As a result, there will be a minimal change in sample size.
    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. An extensive subscription mailing list 
attests to the diverse groups using these data including foreign 
countries, universities, financial analysts, unions, trade 
associations, public libraries, banking institutions, and U.S. and 
foreign corporations. The primary users are U.S. Governmental 
organizations charged with economic policymaking responsibilities. 
These organizations play a major role in providing guidance, advice, 
and support to the QFR Program.

II. Method of Collection

    The Census Bureau will use mail out/mail back survey forms to 
collect data. Companies will be asked to respond to the survey within 
25 days of the end of the quarter in which the data are being 
requested. Letters and/or telephone calls encouraging participation 
will be directed to respondents that have not responded by the 
designated time. The QFR has also begun limited optional use of a 
computer readable medium as a substitute for the completed form; i.e., 
the Computerized Self-Administered Questionnaire (CSAQ). The CSAQ can 
be completed and filed electronically via the internet, or by returning 
a diskette for electronic data capture. The CSAQ contains interactive 
edits and balancing features making it possible for the respondent to 
submit fewer data errors resulting in improved data. The number of 
respondents having optional use of the CSAQ will increase until full 
implementation which is expected by the fourth quarter 2002 report 
period. Use of the CSAQ will allow for easier and more timely filing of 
the QFR report and provide a reduction in respondent cost.

III. Data

    OMB Number: 0607-0432.
    Form Numbers: QFR-101 (Sent quarterly to Manufacturing, Mining, and 
Wholesale Trade corporations with assets of $50 million or more at time 
of sampling), QFR-102 (Sent quarterly to Retail Trade corporations with 
assets of $50 million or more at time of sampling), QFR-101A (Sent 
quarterly to Manufacturing corporations with assets of less than $50 
million at time of sampling), and QFR-103 (Sent at the beginning of 
sampling selection and at 2-year intervals if the corporation is 
included in the sample for more than eight quarters).
    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-101--3,388 per quarter, 
13,552 annually. Form QFR-102--497 per quarter, 1,988 annually. Form 
QFR-101A--4,340 per quarter, 17,360 annually. Form QFR-103--1,225 per 
quarter, 4,900 annually.
    Estimated Time Per Response: The average for all respondents is 
about 2.1 hours. For companies completing form QFR 101 or QFR-102, the 
range is from

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less than 1 to 10 hours, averaging 3.75 hours. For companies completing 
form QFR-101A, the range is less than 1 hour to 3 hours, averaging 1.2 
hours. For companies completing form QFR-103, the range is from 1 to 4 
hours, averaging 2.4 hours.
    Estimated Total Annual Burden Hours: 78,000.
    Estimated Total Annual Cost: $1,450,000.
    Respondents' 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; 
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 8, 2001.
Madeleine Clayton,
Departmental Forms Clearance Officer, Office of the Chief Information 
Officer.
[FR Doc. 01-6250 Filed 3-13-01; 8:45 am]
BILLING CODE 3510-07-P