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Notice

Federal Acquisition Regulation; Information Collection; Limitation of Costs/Funds

Action

Notice Of Request For Public Comments Regarding An Extension To An Existing Omb Clearance.

Summary

Under the provisions of the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35), the Federal Acquisition Regulation (FAR) Secretariat will be submitting to the Office of Management and Budget (OMB) a request to review and approve an extension of a currently approved information collection requirement concerning limitation of costs/funds. The clearance currently expires on June 30, 2002.

Public comments are particularly invited on: Whether this collection of information is necessary for the proper performance of functions of the FAR, and whether it will have practical utility; whether our estimate of the public burden of this collection of information is accurate, and based on valid assumptions and methodology; ways to enhance the quality, utility, and clarity of the information to be collected; and ways in which we can minimize the burden of the collection of information on those who are to respond, through the use of appropriate technological collection techniques or other forms of information technology.

 

Table of Contents Back to Top

DATES: Back to Top

Submit comments on or before June 10, 2002.

ADDRESSES: Back to Top

Submit comments regarding this burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden to the General Services Administration, FAR Secretariat (MVP), 1800 F Street, NW., Room 4035, Washington, DC 20405.

FOR FURTHER INFORMATION CONTACT: Back to Top

Jeremy F. Olson, Acquisition Policy Division, GSA (202) 501-3221.

SUPPLEMENTARY INFORMATION: Back to Top

A. Purpose Back to Top

Firms performing under Federal cost-reimbursement contracts are required to notify the contracting officer in writing whenever they have reason to believe—

(1) The costs the contractors expect to incur under the contracts in the next 60 days, when added to all costs previously incurred, will exceed 75 percent of the estimated cost of the contracts; or

(2) The total cost for the performance of the contracts will be greater or substantially less than estimated. As a part of the notification, the contractors must provide a revised estimate of total cost.

B. Annual Reporting Burden Back to Top

Respondents: 63,456.

Responses Per Respondent: 1.

Annual Responses: 63,456.

Hours Per Response:.5.

Total Burden Hours: 31,728.

Obtaining Copies of Proposals: Requesters may obtain a copy of the information collection documents from the General Services Administration, FAR Secretariat (MVP), Room 4035, 1800 F Street, NW., Washington, DC 20405, telephone (202) 501-4755. Please cite OMB Control No. 9000-0074, Limitation of Costs/Funds, in all correspondence.

Dated: April 4, 2002.

Al Matera,

Director, Acquisition Policy Division.

[FR Doc. 02-8758 Filed 4-10-02; 8:45 am]

BILLING CODE 6820-EP-P

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