January 13, 2011
Supporting Statement
Explain the circumstances that make this collection of information necessary. Identify any legal or administrative requirements that necessitate the collection. Information on the form provides proof of the authority of the officer(s) named by title or by name and title, to act on behalf of an organization in its name in one or more of the following ways: (1) assign, sell or dispose of Treasury securities held by the organization, (2) assign, sell or dispose of Treasury securities held by the organization in a fiduciary capacity, or (3) execute and deliver contractual agreements for replacement of lost, stolen, or destroyed Treasury securities on behalf of the organization as surety principal or both.
Indicate how, by whom and for what purpose is this information used? The information permits the Bureau of the Public Debt to recognize the officer(s) named on the form, which is used as a copy of a resolution passed by the organization's governing body to carry out the specific requirements. The form serves as a certified copy of a resolution. The form is used only by those organizations that would like to delegate authority to certain officer(s) to dispose of Treasury securities that either are owned by the organization or are held by it in a fiduciary capacity. Without the provision of this form and the collection of this information, corporations and organizations would, in some cases, be greatly inconvenienced.
Describe whether, and to what extent, the collection of information involves the use of automated, electronic, mechanical, or other technological collection techniques or other forms of information technology? What consideration is given to use information technology to reduce burden? Public Debt has been a leader in e-Gov, providing the public with options for conducting financial transactions online for several years. To provide our customers additional options for submitting information electronically, we are taking the following steps: a technical project team is exploring options (such as pay.gov) and will select the mechanism(s)/infrastructure needed; concurrently, reengineering of business processes (and forms) is being conducted as the result of a reorganization of our major business lines.
Describe efforts are used to identity duplication? Why can’t any similar information already available be used or modified for use for the purposes described in Item 2 above? Duplicate information is not requested.
If this collection of information impacts small businesses or other small entities, what methods are used to minimize burden? This collection of information does not impact small business or other small entities.
What consequences to Federal program or policy activities and what, if any, technical or legal obstacles to reducing burden will occur if this collection is not conducted or is conducted less frequently? The collection of information cannot be conducted less frequently because the collection is initiated for a single purpose.
Is this collection of information conducted in a manner consistent with the guidelines of 5 CFR 1320.6? This information collection is consistent with 5 CFR 1320.6
What effort was made to notify the general public about this collection of information? The Bureau’s notice was published in the Federal Register on November 4, 2010, Page 68026. No comments were received.
What decision was made to provide any payment or gift to respondents, other than re-enumeration of contractors or grantees? N/A
What assurance of confidentiality was provided to respondents and what was the basis for the assurance in statute, regulations, or agency policy? In accordance with the Privacy Act of 1974, information furnished by the public is assured confidentiality.
What justification is there for questions of a sensitive nature? There are no questions of a sensitive nature.
What is the estimated hour burden of this collection of information? The average time needed is 10 minutes per response multiplied by the estimated number of responses (1,380) reflects the total burden of 235 hours.
What is the estimated total annual cost burden to respondents or record-keepers resulting from this collection of information? Estimated cost burden to respondents is not available at this time.
What is the annualized cost to the Federal Government? The following factors were used to estimate the annual burden to this agency:
Printing cost - estimated number of forms printed annually, multiplied by the unit cost of the forms.
Case processing cost - estimated number of forms completed, multiplied by a percentage of the unit cost of case processing.
Forms management cost - salary cost of forms management personnel.
Printing Cost 1,380 @ $0.04 = $ 55.20
Case processing cost 1,380 @ $1.50/form = $ 2,070.00
Forms Management Cost = $ 500.00
Total Cost = $ 2,625.20
What is the reason for any program changes or adjustments reported in Items 13 or 14 of the OMB Form 83-I?
In the process of examining forms used in the Legacy Treasury Direct system, BPD determined that two forms (PD F 5189 – Resolution For Security Transactions, and PD F 1010 - Resolution For Transactions Involving Treasury Securities) were used for similar purposes. Because of this, PD F 5189 (OMB #1535-0069) is being discontinued and the number of respondents using PD F 1010 has increased. Figures were updated to reflect an increase in total number of respondents from 500 to 1,380, with total burden increased from 85 to 235, due to this program change.
For collections of information whose results will be published, outline plans for tabulation and publication. The results of the collection of this information will not be published for statistical use.
If seeking approval to not display the expiration date for OMB approval of this information collection, what are the reasons that the display would be inappropriate?
To avoid the time and cost associated with updating electronic systems and the possible confusion by respondents when submitting this form by a prescribed time-frame, we request approval to not display the OMB expiration date on this form.
What are the exceptions to the certification statement? N/A
| File Type | application/msword |
| Author | ARC |
| Last Modified By | Reference |
| File Modified | 2011-02-22 |
| File Created | 2011-02-22 |