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:
1902-0206
ICR Reference No:
200704-1902-006
Status:
Historical Active
Previous ICR Reference No:
200403-1902-007
Agency/Subagency:
FERC
Agency Tracking No:
FERC Form 6Q
Title:
Quarterly Financial Report of Oil Pipeline Companies
Type of Information Collection:
Extension without change of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
07/02/2007
Retrieve Notice of Action (NOA)
Date Received in OIRA:
04/05/2007
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
07/31/2010
36 Months From Approved
06/30/2007
Responses
414
0
477
Time Burden (Hours)
62,100
0
71,550
Cost Burden (Dollars)
0
0
3,688,000
Abstract:
Quarterly Financial Report of Oil Pipeline Companies" requires companies to file with the Commission a complete set of quarterly financial statements. Most of the information contained in these forms is the same information currently submitted on an annual basis on the FERC Form No. 6. Quarterly reporting of financial information permits the Commission to have a better understanding of trends and other factors that may affect an entity's liquidity position, its commitments of capital expenditures, and its sources of financing, along with changes in the amount of assets, liabilities, debt and equity used in its business. Transparent accountings and more frequent financial reporting play an important role in achieving vigilant oversight of market participants. More frequent financial reporting provides needed insight into the opportunities and risks facing the energy industry as the Commission considers and assesses the affects of its regulatory initiatives. The Commission shares the view that quarterly reporting enhances its overall decision making process by providing more timely, useful and relevant data to the decision making process.
Authorizing Statute(s):
US Code:
49 USC Sections 1, 20
Name of Law: Interstate Commerce Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
71 FR 75523
12/15/2006
30-day Notice:
Federal Register Citation:
Citation Date:
72 FR 16774
04/05/2007
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Quarterly Financial Report of Oil Pipeline Companies
6Q
Quarterly Report of Oil Pipeline Companies
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
414
477
0
0
-63
0
Annual Time Burden (Hours)
62,100
71,550
0
0
-9,450
0
Annual Cost Burden (Dollars)
0
3,688,000
0
-3,688,000
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:
The decrease in the number of hours from OMBs inventory to that of this submission is due to a decrease in the number of filers. Several filers are now exempt because their annual jurisdictional operating revenues have been less than $500,000 for each of the three previous calendar years. Therefore they do not have to file the Form 6-Q. (see FERC Form No. 6)
Annual Cost to Federal Government:
$311,382
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:
Michelle Veloso 202 502-8363 michelle.veloso@ferc.gov
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:
04/05/2007
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