February 14, 2011
Supporting Statement
Explain the circumstances that make this collection of information necessary. Identify any legal or administrative requirements that necessitate the collection. Chapter 31 of Title 31 of the United States code authorizes the Secretary of the Treasury to issue United States obligations and to offer them for sale under such terms and conditions as the Secretary may prescribe. Submitters in U.S. Treasury auctions are required by Federal Regulation 31 CFR Part 356.16(a) to have an agreement on file prior to submitting a computer tender in Treasury auctions. The regulation further mandates that this agreement must be renewed at least annually. This information is only required of organizations that voluntarily choose to submit tenders directly in Treasury auctions.
Indicate how, by whom and for what purpose is this information used? The information is used by Treasury’s Office of Financing, Bureau of the Public Debt to identify authorized submitters who may submit computer tenders in Treasury auctions.
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? The form is available from Public Debt and also on the Internet as a fill-in PDF form.
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? The forms will be reviewed annually to identify duplicate information.
If this collection of information impacts small businesses or other small entities, what methods are used to minimize burden? The collection of information is made only for a specific purpose.
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 regulation mandates that the agreement be renewed at least annually.
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 30, 2010, page 74148. No comments were received.
What decision was made to provide any payment or gift to respondents, other than reenumeration 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? In order to compute disclosure burden estimates, Bureau of the Public Debt personnel who developed the form conducted tests to determine the average length of time required for completion. The average time required to complete the form (5 minutes) multiplied by the estimated number of forms completed (1,000) reflects the total burden of 80 hours.
What is the estimated total annual cost burden to respondents or recordkeepers resulting from this collection of information? Estimated cost burden to respondents is not available at this time, but will be provided when available.
What is the annualized cost to the Federal Government? The following factors were used to estimate the annual burden to this agency:
a. Printing cost - estimated number of forms printed annually, multiplied by the unit cost of the forms.
b. Case processing cost - estimated number of forms completed, multiplied by the estimated average form processing time, multiplied by the estimated average salary of forms processing staff.
c. Forms management cost - salary cost of forms management personnel.
Printing Cost 1,000 @ $40.00/M = $ 40.
Case Processing Cost 1,000 x 2 hours x $25 = 50,000.
Forms Management Cost = 500.
Total Cost $50,540.
What is the reason for any program changes or adjustments reported in Items 13 or 14 of the OMB Form 83-I? The number of forms in the collection was reduced from three to one. There is no reduction in the burden hours because the one remaining form collects information that was previously obtained from the two obsolete forms.
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 respondent 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 | basharp |
| File Modified | 2011-04-07 |
| File Created | 2011-04-06 |