[Federal Register Volume 67, Number 61 (Friday, March 29, 2002)]
[Notices]
[Pages 15176-15177]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-7542]


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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis


Institutional Remittances to Foreign Countries--BE-40

ACTION: Proposed collection; comment request.

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[[Page 15177]]

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 28, 2002.

ADDRESSES: Direct all written comments to Madeleine Clayton, 
Departmental Paperwork Clearance Officer, Department of Commerce, Room 
6608, 14th and Constitution Avenue, NW., Washington, DC 20230.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection instrument and instructions should 
be directed to: Michael Mann, Chief, Current Account Services Branch, 
Room 8018, Bureau of Economic Analysis, U.S. Department of Commerce, 
Washington, DC 20230; phone: (202) 606-9573; and fax: (202) 606-5314.

SUPPLEMENTARY INFORMATION:

I. Abstract

    The Bureau of Economic Analysis is responsible for the computation 
and publication of the U.S. balance of payments accounts. The 
information collected in this survey is an integral part of the 
``private remittances'' portion of the U.S. balance of payments 
accounts. The balance of payments accounts, which are published 
quarterly in the Bureau's monthly publication, the Survey of Current 
Business, are one of the major statistical products of BEA. The 
accounts provide a statistic summary of U.S. international 
transactions. They are used by government and private organizations for 
national and international policy formulation, and analytical studies. 
Without the information collected in this survey, an integral component 
of the private remittances account would be omitted. No other 
Government agency collects comprehensive annual data on private 
unilateral transfers of funds to foreign countries.
    The survey requests information from U.S. religious, charitable, 
educational, scientific, and similar organizations on the transfer of 
cash grants to foreign countries and their expenditures in foreign 
countries. Information is collected on a quarterly basis from 
institutions transferring $1 million or more each year, and annually 
for all others. Nonprofit organizations with total remittance of less 
than $25,000 annually are exempt from reporting.

II. Method of Collection

    Information is obtained from U.S. religious, charitable, 
educational, scientific, and similar organizations who voluntarily 
agree to provide data regarding transfers of cash grants to foreign 
countries and their expenditures in foreign countries. Submission of 
the completed report form, or computer printouts in the format of the 
report form, are the most expedient and economical methods of reporting 
the information. In accordance with the Paperwork Reduction Act of 
1995, BEA is implementing the ASTAR system which allows organizations 
to file electronically via the Internet.

III. Data

    OMB Number: 0608-0002.
    Form Number: BE-40.
    Type of Review: Renewal--regular submission.
    Affected Public: U.S. religious, charitable, educational, 
scientific, and similar organizations which transfer cash grants to 
foreign countries and their expenditures in foreign countries.
    Estimated Number of Respondents: 1,336.
    Estimated Time Per Response: 1.5 hours per annual reporter. 6.0 
hours per quarterly reporter.
    Estimated Total Annual Burden Hours: 3,273 hours.
    Estimated Total Annual Cost: The estimated annual cost to the 
government is $17,600. The estimated annual cost to the public is 
$98,190 based on total number of hours estimated as the reporting 
burden and as estimated hourly cost of $30.
    Respondent's Obligation: Voluntary.
    Legal Authority: Bretton Woods Agreement Act, Section 8, and E.O. 
10033, as amended.

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 burden (including 
hours and costs) 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 the information 
collection; they also will become a matter of public record.

    Dated: March 26, 2002.
Madeleine Clayton,
Departmental Paperwork Clearance Officer, Office of the Chief 
Information Officer.
[FR Doc. 02-7542 Filed 3-28-02; 8:45 am]
BILLING CODE 3510-EA-M