Quarterly Financial Report of Oil Pipeline Companies

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 6Q Quarterly Financial Report of Oil Pipeline Companies	Form	Modified	Available
Interstate Commerce Act of 1887.htm	Supplementary Document	Uploaded 2007-04-05	Available
Supp.statementForm6Q(2007).doc	Supporting Statement A	Uploaded 0000-00-00	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
23251	Quarterly Financial Report of Oil Pipeline Companies	Form	Modified

ICR Details

OMB Control No: 1902-0206	ICR Reference No: 200704-1902-006
Status: Historical Active	Previous ICR Reference No: 200403-1902-007
Agency/Subagency: FERC	Agency Tracking No: FERC Form 6Q
Title: Quarterly Financial Report of Oil Pipeline Companies
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/02/2007
	Date Received in OIRA: 04/05/2007
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2010	36 Months From Approved	06/30/2007
Responses	414	0	477
Time Burden (Hours)	62,100	0	71,550
Cost Burden (Dollars)	0	0	3,688,000

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Abstract: Quarterly Financial Report of Oil Pipeline Companies" requires companies to file with the Commission a complete set of quarterly financial statements. Most of the information contained in these forms is the same information currently submitted on an annual basis on the FERC Form No. 6. Quarterly reporting of financial information permits the Commission to have a better understanding of trends and other factors that may affect an entity's liquidity position, its commitments of capital expenditures, and its sources of financing, along with changes in the amount of assets, liabilities, debt and equity used in its business. Transparent accountings and more frequent financial reporting play an important role in achieving vigilant oversight of market participants. More frequent financial reporting provides needed insight into the opportunities and risks facing the energy industry as the Commission considers and assesses the affects of its regulatory initiatives. The Commission shares the view that quarterly reporting enhances its overall decision making process by providing more timely, useful and relevant data to the decision making process.

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Authorizing Statute(s): US Code: 49 USC Sections 1, 20 Name of Law: Interstate Commerce Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	71 FR 75523	12/15/2006
30-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 16774	04/05/2007
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

IC Title	Form No.	Form Name
Quarterly Financial Report of Oil Pipeline Companies	6Q	Quarterly Report of Oil Pipeline Companies

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ICR Summary of Burden

table that charts list of burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	414	477	0	0	-63	0
Annual Time Burden (Hours)	62,100	71,550	0	0	-9,450	0
Annual Cost Burden (Dollars)	0	3,688,000	0	-3,688,000	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The decrease in the number of hours from OMB’s inventory to that of this submission is due to a decrease in the number of filers. Several filers are now exempt because their annual jurisdictional operating revenues have been less than $500,000 for each of the three previous calendar years. Therefore they do not have to file the Form 6-Q. (see FERC Form No. 6)

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Annual Cost to Federal Government: $311,382

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 04/05/2007

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