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Government Property-Instructions for Preparing NASA Form 1018

Document Details

Information about this document as published in the Federal Register.

Published Document

This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.

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AGENCY:

National Aeronautics and Space Administration.

ACTION:

Final rule.

SUMMARY:

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.

EFFECTIVE DATEs:

March 31, 2004.

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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: lou.becker@nasa.gov.

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SUPPLEMENTARY INFORMATION CONTACT:

A. Background

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.

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List of Subjects in 48 CFR Parts 1845 and 1852

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Tom Luedtke,

Assistant Administrator for Procurement.

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Interim Rule Adopted as Final Without Change

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Accordingly, NASA adopts the interim rule amending

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Authority: 42 U.S.C. 2473(c)(1), 31 U.S.C. 6301 et seq.

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[FR Doc. 04-7238 Filed 3-30-04; 8:45 am]

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