National Aeronautics and Space Administration.
This rule adopts as final, without change, the interim rule published in the Federal Register (68 FR 62023-62026) on October 31, 2003, which amended the NASA Federal Acquisition Regulation Supplement (NFS) to provide a definition of obsolete property, to address contractor validation of 1018 data, to clarify reporting of software to which NASA has title, to clarify other property classifications, and to revise the date for submission of annual property reports. NASA uses the data contained in contractor reports for annual financial statements and property management. This change will provide for consistent reporting of NASA property by contractors.
March 31, 2004.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Lou Becker, NASA Headquarters, Office of Start Printed Page 16833Procurement, Contract Management Division (Code HK), Washington, DC 20546, telephone: (202) 358-4593, e-mail to: firstname.lastname@example.org.End Further Info End Preamble Start Supplemental Information
SUPPLEMENTARY INFORMATION CONTACT:
Each year, NASA's financial statements are audited in accordance with generally accepted government auditing standards. NASA must maintain adequate controls to reasonably assure that property, plant and equipment and materials are presented fairly in its financial statements. Since contractors maintain NASA's official records for its assets in their possession, NASA uses the data contained in contractor reports for annual financial statements and property management. This final rule provides policies and procedures related to obsolete property, contractor validation of 1018 data, and proper reporting of software to which NASA has title. This change will provide for consistent reporting of NASA property by contractors. It also reflects the need to change the date of submission for annual property reports from October 31st to October 15th. No public comments were received. The interim rule is converted to a final rule without change.
This final rule is not a significant regulatory action, and therefore, was not subject to review under Section 6(b) of Executive Order 12866, Regulatory Planning and Review, dated September 30, 1993. This final rule is not a major rule under 5 U.S.C. 804.
B. Regulatory Flexibility Act
NASA certifies that this final rule will not have a significant economic impact on a substantial number of small businesses within the meaning of the Regulatory Flexibility Act (5 U.S.C. 601 et seq.) because it clarifies existing property reporting policies and procedures contractors must follow when accounting for and reporting assets.
C. Paperwork Reduction Act
The Paperwork Reduction Act does not apply because the changes to the NFS do not impose new recordkeeping or information collection requirements which require the approval of the Office of Management and Budget under 44 U.S.C. 3501, et seq.Start List of Subjects
List of Subjects in 48 CFR Parts 1845 and 1852
- Government procurement
Assistant Administrator for Procurement.
Interim Rule Adopted as Final Without ChangeStart Amendment PartEnd Amendment Part End Supplemental Information
[FR Doc. 04-7238 Filed 3-30-04; 8:45 am]
BILLING CODE 7510-01-P