Student Assistance General Provisions - Subpart K - Cash Management

Forms and Documents

Document Name	Status
1845-0038 SuppState 081909 Subpart K Cash Management.doc Supporting Statement A	2009-08-19

IC Document Collections

IC ID	Document Title	Status
22256	Current Cash Management Burden Other-Table	Modified
190119	34 CFR 668.23(d) Audited Financial Statements Other-Table	New

ICR Details

OMB Control No: 1845-0038	ICR Reference No: 200910-1845-008
Status: Historical Active	Previous ICR Reference No: 200812-1845-006
Agency/Subagency: ED/FSA	Agency Tracking No: 4094
Title: Student Assistance General Provisions - Subpart K - Cash Management
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 10/29/2009
	Date Received in OIRA: 10/29/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2012	36 Months From Approved	02/29/2012
Responses	1,032,413	0	1,075,198
Time Burden (Hours)	965,878	0	976,924
Cost Burden (Dollars)	0	0	0

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Abstract: The proposed regulations require an institution to disclose in a footnote to its audited financial statements the amounts of Federal and non-Federal revenues, by category, that it used in calculating its 90/10 ratio.

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Authorizing Statute(s): PL: Pub.L. 110 - 315 487(d) Name of Law: Higher Education Opportunity Act
  

Citations for New Statutory Requirements: PL: Pub.L. 110 - 315 487(d) Name of Law: Higher Education Opportunity Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1840-AC99	Final or interim final rulemaking	74 FR 55902	10/29/2009

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
34 CFR 668.23(d) Audited Financial Statements
Current Cash Management Burden

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ICR Summary 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	1,032,413	1,075,198	2,058	0	-44,843	0
Annual Time Burden (Hours)	965,878	976,924	165	0	-11,211	0
Annual Cost Burden (Dollars)	0	0	0	0	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 burden increase is required by a proposed change in the regulations due to implementing the statutory changes made by the Higher Education Opportunity Act (HEOA) (Pub. L. 110-315) that amends the Higher Education Act of 1965, as amended (HEA). Please note that in the process of preparing the new collection it was determined that the previous submission had the wrong data for both responses and hours due to several iterations of the documents that were created for version 7. We believe that the number of responses 1,075,198 and the number of hours 976,924 as reported on the Notice of OMB Action dated 2.27.09 are in error. The actual number of responses in the current inventory should be 1,030,355 to correct an over-reporting of 44,843. The actual number of hours in the current inventory should be 965,713 to correct an over-reporting of 11,211. Therefore, as a part of this collections package we are requesting a “Change due to Agency Adjustment” to decrease the number of responses from 1,075,198 to 1,030,355 and to decrease the number of hours from 976,924 to 965,713. The corrected figures are reported above in the “Current Inventory” listing.

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Annual Cost to Federal Government: $0

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)? No

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: 08/21/2009

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