7 CFR 1773, Policy on Audits of RUS Borrowers

ICR 201809-0572-002

OMB: 0572-0095

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2018-10-02
Supporting Statement A
2018-11-20
Supplementary Document
2018-09-25
Supplementary Document
2018-09-25
Supplementary Document
2018-09-25
IC Document Collections
IC ID
Document
Title
Status
1800
Modified
ICR Details
0572-0095 201809-0572-002
Active 201708-0572-001
USDA/RUS
7 CFR 1773, Policy on Audits of RUS Borrowers
Revision of a currently approved collection   No
Regular
Approved without change 02/11/2019
Retrieve Notice of Action (NOA) 11/26/2018
  Inventory as of this Action Requested Previously Approved
02/28/2022 36 Months From Approved 02/28/2019
1,787 0 1,967
14,439 0 14,914
0 0 0

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.

US Code: 7 USC 901 et seq. Name of Law: Rural Electrification Act of 1936, as amended
  
None

Not associated with rulemaking

  83 FR 27309 06/12/2018
83 FR 59355 11/23/2018
No

1
IC Title Form No. Form Name
7 CFR 1773, Policy on Audits of RUS Borrowers

  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
No
Yes
Changing Regulations
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.

$402,115
No
    No
    No
No
No
No
Uncollected
Rebecca Hunt 202 205-3660 [email protected]

  No

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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
11/26/2018


© 2024 OMB.report | Privacy Policy