Student Assistance General Provisions - Subpart K - Cash Management

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Att_SUPPORTING STATEMENT 1845-0038 v10 11.1.10.docx	Supporting Statement A	Uploaded 2010-11-02	Available
Final OMB 1845 0038 v10 Table 10.20.10.xls	Supplementary Document	Uploaded 2010-11-02	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
22256	Current Cash Management Burden		Modified
193813	Burden Analysis - 1845-0038 v10 - RIN 1840-AD03 - Public Institutions		Modified
193812	Burden Analysis - 1845-0038 v10 - RIN 1840-AD03 - Not-for-profit Institutions		Modified
193786	Burden Analysis - 1845-0038 v9 - RIN 1840-AD03 - For Profit Institutions		Removed
190119	34 CFR 668.23(d) Audited Financial Statements	Other-Table	Removed

ICR Details

OMB Control No: 1845-0038	ICR Reference No: 201011-1845-001
Status: Historical Active	Previous ICR Reference No: 201007-1845-008
Agency/Subagency: ED/FSA	Agency Tracking No: 4433
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: 11/22/2010
	Date Received in OIRA: 11/02/2010
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2013	36 Months From Approved	10/31/2012
Responses	1,032,008	0	1,032,413
Time Burden (Hours)	952,788	0	965,878
Cost Burden (Dollars)	0	0	0

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Abstract: The final regulations for Institutional Eligibility Under the Higher Education Act of 1965, the Student Assistance General Provisions, the Federal Family Education Loan Program, and the William D. Ford Federal Direct Loan Program implements provisions related to the eligibility of foreign institutions for participation in the Federal student aid programs that were added to the Higher Education Act of 1965, as amended (HEA), by the Higher Education Opportunity Act of 2008 (Pub. L. 110-315) (HEOA), as well as other provisions related to the eligibility of foreign institutions. Specifically, these regulations establish new requirements in 34 CFR 668.23(h) for both audited financial statements and compliance audits for foreign institutions based in part on fiscal year funding received at the school for US students receiving Title IV, Higher Education Act (HEA) program funds. The final regulation in §668.23(h)(1) establishes new audited financial statement submission requirements for foreign institutions receiving Title IV, HEA program funds in the most recently completed fiscal year. The final regulation in §668.23(h)(2) separates foreign institutions into two groups, establishing new compliance audit requirements for foreign schools based upon whether the institution received less than $500,000 or $500,000 or more in Title IV, HEA program funds during the institution’s most recently completed fiscal year.

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Authorizing Statute(s): US Code: 20 USC 1088, 1094, 1099c, 1141 Name of Law: Higher Education Act of 1965, as amended
  

Citations for New Statutory Requirements: PL: Pub.L. 110 - 315 493 Name of Law: Higher Education Opportunity Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1840-AD03	Final or interim final rulemaking	75 FR 67169	11/01/2010

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 42190	07/20/2010
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 3

table that charts list of burden

IC Title	Form No.	Form Name
34 CFR 668.23(d) Audited Financial Statements
Burden Analysis - 1845-0038 v10 - RIN 1840-AD03 - Public Institutions
Current Cash Management Burden
Burden Analysis - 1845-0038 v10 - RIN 1840-AD03 - Not-for-profit Institutions
Burden Analysis - 1845-0038 v9 - RIN 1840-AD03 - For Profit Institutions

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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	1,032,008	1,032,413	-405	0	0	0
Annual Time Burden (Hours)	952,788	965,878	-13,090	0	0	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 final regulations for 34 CFR 668.23 resulted in a program change in burden hours. The burden increase inter alia results from incorporating changes based on statutory changes from the Higher Education Opportunity Act of 2008 (Pub. L. 110-315) to current regulations regarding the requirement for and timelines of submissions of audited financial statements and compliance audits from foreign schools based in part on fiscal year funding received at the school for US students receiving Title IV, HEA program funds. The burden changes are a result of final changes to regulations to help to clarify which institutions are required to provide audited financial statements and compliance audits and at what level the reporting is required.

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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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

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: 11/02/2010

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