As agreed upon by the agency, FERC will achieve the following two goals within the specified time periods: By January 15, 1999, The Commission will issue an Accounting Release (AR) that will waive the media requirement. Respondents will be permitted to keep the records in whatever form they desire, provided that the information is available in a format that is accessible to FERC auditors. By July 20, 1999, The Commission will issue a Notice of Proposed Rulemaking to revise the records retention requirements. The requirement for General Ledgers will be reduced to 10 years, and the requirement for Plant Ledgers will be reduced to 25 years. In addition, The Commission, in coordination with industry, will conduct a systematic review of all retention requirements with the goal of a general revision of those requirements.
Inventory as of this Action
Requested
Previously Approved
07/31/2001
07/31/2001
07/31/1998
515
0
500
1,236,000
0
1,200,000
0
0
0
The records retention regulations establish retention periods and necessary guidelines and requirements to sustain retention of applicable records for the 515 regulated public utilities, natural gas, and oil pipeline companies subject to the jurisdiction of the Federal Energy Regulatory Commission.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.