Quarterly Financial Report (QFR)

Forms and Documents

Document Name	Status
Form QFR-200(MT) Quarterly Financial Report (QFR) Form	Modified
QFR nonsubstantive change for OMB.docx Justification for No Material/Nonsubstantive Change	2019-05-03
Supporting_Statement_Part B_2018_06_18_Final.docx Supporting Statement B	2018-07-12
Supporting_Statement_Part A_2018_06_18_Final.docx Supporting Statement A	2018-07-12

IC Document Collections

IC ID	Document Title	Status
37150	Quarterly Financial Report (QFR) Form	Modified

ICR Details

OMB Control No: 0607-0432	ICR Reference No: 201905-0607-001
Status: Historical Active	Previous ICR Reference No: 201807-0607-001
Agency/Subagency: DOC/CENSUS	Agency Tracking No:
Title: Quarterly Financial Report (QFR)
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 06/03/2019
	Date Received in OIRA: 05/09/2019
Terms of Clearance: The Census Bureau will continue work toward improving the response rate for the Quarterly Financial Report (QFR) and will provide a report on the efforts they have undertaken and their effects when it submits its next QFR ICR.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2021	10/31/2021	10/31/2021
Responses	33,680	0	49,004
Time Burden (Hours)	80,786	0	107,462
Cost Burden (Dollars)	0	0	0

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Abstract: The QFR is the best source of timely financial data for gauging quarterly performance of the non-regulated, domestic corporate sector. Users include: Commerce Department (Gross Domestic Product), Federal Reserve Board (Flow of Funds), The Bureau of Land Management, and the Council of Economic Advisers. The data are collected from a sample of manufacturing, mining, trade, and selected service corporations.

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Authorizing Statute(s): PL: Pub.L. 114 - 72 2 Name of Law: null
   US Code: 13 USC 91 Name of Law: null
  

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 8650	02/28/2018
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 34824	07/23/2018
Did the Agency receive public comments on this ICR? Yes

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

IC Title	Form No.	Form Name
Quarterly Financial Report (QFR)	QFR-201(MG), QFR-300(S), QFR-200(MT)	Quarterly Financial Report ,   Quarterly Financial Report ,   Quarterly Financial Report

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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	33,680	49,004	0	-15,324	0	0
Annual Time Burden (Hours)	80,786	107,462	0	-26,676	0	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: Miscellaneous Actions

Short Statement: The QFR plans to raise the certainty asset cutoff to limit the increasing sample size. In addition, QFR will remove the two smallest strata, 03 and 07, which means the survey will sample companies with assets of $5,000,000 and over instead of $250,000 and over. These changes are necessary because while the economy has continued to grow, the asset and receipt levels used to determine stratum classification have remained fixed. In addition, budget constraints have made the increasing number of companies difficult for staff to review. Implementing the Certainty Sample Improvement will also reduce respondent burden. Removing the smaller strata will reduce respondent burden as well and could improve the overall Unit Response Rate (URR) for QFR.

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Annual Cost to Federal Government: $5,000,000

Does this IC contain surveys, censuses, or employ statistical methods? Yes Part B of Supporting Statement

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: 05/09/2019

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