Economic Price Adjustment -- FAR Sections Affected: 16.203; 52.216-2; 52.216-3; and 52.216-4

Forms and Documents

Document Name	Status
9000-0068 -Supporting Statement.docx Supporting Statement A	2016-04-22

IC Document Collections

IC ID	Document Title	Status
36539	Economic Price Adjustment -- FAR Sections Affected: 16.203; 52.216-2; 52.216-3; and 52.216-4	Modified

ICR Details

OMB Control No: 9000-0068	ICR Reference No: 201604-9000-004
Status: Historical Active	Previous ICR Reference No: 201207-9000-006
Agency/Subagency: FAR	Agency Tracking No:
Title: Economic Price Adjustment -- FAR Sections Affected: 16.203; 52.216-2; 52.216-3; and 52.216-4
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: 06/30/2016
	Date Received in OIRA: 04/22/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2019	36 Months From Approved	06/30/2016
Responses	4,497	0	11,945
Time Burden (Hours)	6,746	0	17,918
Cost Burden (Dollars)	310,293	0	0

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Abstract: Firms performing under Government contracts that provide for economic price adjustments must provide certified information to the Government regarding prices and price changes.

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Authorizing Statute(s): None

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:
	81 FR 3420	01/21/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 21870	04/13/2016
Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
Economic Price Adjustment -- FAR Sections Affected: 16.203; 52.216-2; 52.216-3; and 52.216-4

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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	4,497	11,945	0	-7,448	0	0
Annual Time Burden (Hours)	6,746	17,918	0	-11,172	0	0
Annual Cost Burden (Dollars)	310,293	0	0	310,293	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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The estimated annual reporting burden has decreased from what was published in the Federal Register at 78 FR 12318, on February 22, 2013. The estimated total burden hours has decreased from 11,945 to 4,497. The downward adjustment is based on information from the Federal Procurement Data System. The number of responses is adjusted from 11,945 to 4,497 based on FPDS data, and the estimated hours per response of 1.5 hours remains the same. The 1.5 hours allows for additional time to meet the requirements under the relevant clauses.

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Annual Cost to Federal Government: $206,862

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: 04/22/2016

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