View Information Collection Request (ICR) Package
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1902-0215
ICR Reference No:
200611-1902-002
Status:
Historical Active
Previous ICR Reference No:
200605-1902-003
Agency/Subagency:
FERC
Agency Tracking No:
Title:
Annual Report for Centralized Service Companies
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:
02/15/2007
Retrieve Notice of Action (NOA)
Date Received in OIRA:
11/07/2006
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
02/28/2010
36 Months From Approved
02/28/2009
Responses
404
0
65
Time Burden (Hours)
327,371
0
0
Cost Burden (Dollars)
6,696,000
0
0
Abstract:
In RM06-11-000, FERC is adding a new Uniform System of Accounts for Centralized Service Companies and new preservation of records requirements as new Parts 367 and 368. FERC's regulations revise Form No. 60, and adding Part 369 to its regulations. Form No.60 provides financial reporting by centralized service companies, i.e., service companies that are not special purpose companies, consistent with the new Uniform System of Accounts; and to provide for electronic filing of Form No. 60. FERC also is making conforming changes to its regulations in Part 366 and corresponding changes to the Chief Accountant's delegations of authority in Part 375 of FERCs regulations. FERC is making the revised regulations effective January 1, 2008.
Authorizing Statute(s):
PL:
Pub.L. 109 - 58 1264, 1275
Name of Law: Energy Policy Act of 2005
Citations for New Statutory Requirements:
PL: Pub.L. 109 - 58 1261, 1275 Name of Law: Energy Policy Act of 2005
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
1902-AD15
Final or interim final rulemaking
71 FR 65200
11/07/2006
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
3
IC Title
Form No.
Form Name
Annual Report for Centralized Service Companies
FERC Form 60
Annual Report for Centralized Service Companies
Narrative Description of Service Company Functions
Preservation of Records for Service Companies Subject to PUHCA
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
404
65
404
-65
0
0
Annual Time Burden (Hours)
327,371
0
327,371
0
0
0
Annual Cost Burden (Dollars)
6,696,000
0
6,696,000
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:
No
Burden Reduction Due to:
Short Statement:
Order No. 667 required that, unless otherwise exempted by Commission rule or order, holding companies and service companies must maintain and make available to the Commission their books and records. In addition, Order No. 667 allowed holding companies and service companies that did not currently follow the Commissions records retention requirements to transition to the Commissions requirements by January 1, 2007. Order No. 667 further provided that holding companies would not be required to comply with a Uniform System of Accounts, but that centralized service companies would be required to do so as of January 1, 2007. The Commission indicated in Order No. 667 that it would initiate a separate rulemaking proceeding to address how the Commission's Uniform Systems of Accounts and records retention requirements in Parts 101, 125, 201 and 225 of its regulations should be modified to adopt or otherwise integrate the relevant parts of the SEC's Uniform System of Accounts and records retention rules. The Commission indicated that it intended to issue a final rule on any appropriate accounting and records retention requirements modifications before January 1, 2007, so that service companies would be able to transition to the Commissions Uniform System of Accounts and records retention requirements and so that holding companies could transition to the Commissions records retention requirements, by that date. This final rule responds to that directive and reflects the addition of service companies (38) who must now comply with the Uniform System of Accounts and records retention requirements in Parts 101, 125, 201 and 225 of the Commissions regulations. The Commission sought comments on both the burden estimates and corresponding costs. It should be noted that the Commissions initial estimates were based on its review of the SECs burden estimates and its first year of experience in implementing the FERC Form No. 60 reporting requirement. The Commission received one comment specifically addressing the burden estimate for completing the revised FERC Form No. 60. The commenter, Southern, provided an estimate for completion of the revised FERC Form No. 60 prior to the Commissions adoption of the requirements as contained in the Final Rule. The Commission notes that Southern has significant operations, and it is to be expected that its estimates would exceed the average projected by the Commission. Otherwise, the majority of the commenters, while not providing specific comments on the estimates, in general opposed the Commissions proposal of establishing new accounting and reporting requirements for centralized service companies. These objections were also repeated in the staff technical conference where some participants stated that the NOPRs proposed requirements would be burdensome and costly to implement as changes would have to be made to their accounting systems. The Commission did not receive any specific comments concerning the estimates for the recordkeeping requirements. However, in view of Southerns comments and the general comments of others, the Commission reevaluated its initial burden estimates as reflected in the final rule.
Annual Cost to Federal Government:
$358,202
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]?
Uncollected
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
Uncollected
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Brian Holmes 202 219-2618
Common Form ICR:
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:
(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:
11/07/2006
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