7 CFR 1773, Policy on Audits of RUS Borrowers

Forms and Documents

Document Name	Status
2018-09501.pdf Supplementary Document	2018-10-02
2018 0572-0095 SpStmt 11-20-2018.docx Supporting Statement A	2018-11-20
CFR-2017-title7-vol12-part1773.pdf Supplementary Document	2018-09-25
Appendix A to Subpart C Patrt 1718- Model Form of Loan Contra.doc Supplementary Document	2018-09-25
0572-0095_2018 RUS FORM 36.xlsx Supplementary Document	2018-09-25

IC Document Collections

IC ID	Document Title	Status
1800	7 CFR 1773, Policy on Audits of RUS Borrowers	Modified

ICR Details

OMB Control No: 0572-0095	ICR Reference No: 201809-0572-002
Status: Active	Previous ICR Reference No: 201708-0572-001
Agency/Subagency: USDA/RUS	Agency Tracking No:
Title: 7 CFR 1773, Policy on Audits of RUS Borrowers
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: 02/11/2019
	Date Received in OIRA: 11/26/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2022	36 Months From Approved	02/28/2019
Responses	1,787	0	1,967
Time Burden (Hours)	14,439	0	14,914
Cost Burden (Dollars)	0	0	0

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Abstract: RUS relies on the information provided by the borrowers in their annual audited financial report to allow RUS to analyse the borrowers' financial strength and to act in a timely manner to protect the government's security interest by assisting the borrower in taking timely corrective action if accounting irregularities or financial downturns are detected.

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Authorizing Statute(s): US Code: 7 USC 901 et seq. Name of Law: Rural Electrification Act of 1936, as amended
  

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:
	83 FR 27309	06/12/2018
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 59355	11/23/2018
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
7 CFR 1773, Policy on Audits of RUS Borrowers

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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	1,787	1,967	0	-115	-65	0
Annual Time Burden (Hours)	14,439	14,914	0	-29	-446	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: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: Agency adjustment resulted in a 475 hour annual burden decrease and agency discretion resulted in a decrease of 29 burden hours. The burden hour estimate decreased by 475 hours, from 14,914 to 14,439 as a result of agency adjustment because of a decrease in the estimated annual respondents from 1,340 to 1300 respondents (reduction of 4446 burden hours) and as the result of a program change due to agency discretion after regulation revisions of 7 CFR 1773. The regulation revision removed a requirement for the submission of a previously required peer review report which had a burden of .25 hours and was submitted each year by a small portion of respondents (approximately 115) and resulted in a reduction of 28.75 burden hours.

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Annual Cost to Federal Government: $402,115

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 11/26/2018

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