[Federal Register Volume 86, Number 68 (Monday, April 12, 2021)]
[Notices]
[Pages 18936-18937]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-07470]


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DEPARTMENT OF AGRICULTURE


Submission for OMB Review; Comment Request

April 7, 2021.
    The Department of Agriculture has submitted the following 
information collection requirement(s) to Office of Management and 
Budget (OMB) for review and clearance under the Paperwork Reduction Act 
of 1995, Public Law 104-13. Comments are requested regarding: Whether 
the collection of information is necessary for the proper performance 
of the functions of the agency, including whether the information will 
have practical utility; the accuracy of the agency's estimate of burden 
including the validity of the methodology and assumptions used; ways to 
enhance the quality, utility and clarity of the information to be 
collected; ways to minimize the burden of the collection of information 
on those who are to respond, including through the use of appropriate 
automated, electronic, mechanical, or other technological collection 
techniques or other forms of information technology.
    Comments regarding this information collection received by May 12, 
2021 will be considered. Written comments and recommendations for the 
proposed information collection should be submitted within 30 days of 
the publication of this notice on the following website 
www.reginfo.gov/public/do/PRAMain. Find this particular information 
collection by selecting ``Currently under 30-day Review--Open for 
Public Comments'' or by using the search function.
    An agency may not conduct or sponsor a collection of information 
unless the collection of information displays a currently valid OMB 
control number and the agency informs

[[Page 18937]]

potential persons who are to respond to the collection of information 
that such persons are not required to respond to the collection of 
information unless it displays a currently valid OMB control number.

Rural Utilities Service

    Title: Accounting Requirements for RUS Electric and 
Telecommunications Borrowers.
    OMB Control Number: 0572-0003.
    Summary of Collection: Rural Utilities Service (RUS) is a credit 
agency of the U.S. Department of Agriculture that makes loans (direct 
and guaranteed) to finance electric and telecommunications facilities 
in rural areas. This collection is primarily a recordkeeping 
requirement. 7 CFR parts 1767 and 1770 set forth basic accounting 
requirements for maintaining financial accounting records on an accrual 
basis that are unique to RUS borrowers. The agency is requiring 
borrowers to establish an index of records. RUS does not own or operate 
rural electric facilities. Its function is to provide, through self-
liquidating loans and technical assistance, adequate and dependable 
electric and telecommunications service to rural people under rates and 
conditions that permit productive use of these utility services. RUS 
borrowers, as all businesses, need accounting systems for their own 
internal use as well as external use. Such records are maintained as 
part of normal business practices. Without systems, no records would 
exist, for example, or what they own or what they owe. Such records 
systems provide borrowers with information that is required by the 
manager and board of directors to operate on a daily basis, to complete 
their tax returns, and to support requests to state regulatory 
commissions for rate approvals.
    Need and Use of the Information: There are many important financial 
considerations for the retention and preservation of accounting 
records. One of the most important considerations to RUS is that 
documentation be available so that the borrower's records may be 
audited for proper disbursements of funds. The hours of burden to 
maintain this index are directly related to those portions of the 
accounting system that are unique to the Agency. RUS uses the 
information to evaluate a borrower's financial performance, to 
determine whether current loans are at risk, and to determine the 
credit worthiness of future loans. If basic financial records were not 
maintained, the borrower, its investors, and RUS would be unable to 
evaluate a borrower's financial performance, to determine whether 
current loans are at risk, and to determine the credit worthiness of 
future loans.
    Description of Respondents: Business or other-for-profit; Not-for-
profit institutions.
    Number of Respondents: 1,000.
    Frequency of Responses: Recordkeeping; Reporting: On Occasion.
    Total Burden Hours: 27,000.

Levi S. Harrell,
Departmental Information Collection Clearance Officer.
[FR Doc. 2021-07470 Filed 4-9-21; 8:45 am]
BILLING CODE 3410-15-P