[Federal Register Volume 68, Number 85 (Friday, May 2, 2003)]
[Rules and Regulations]
[Page 23424]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-10807]


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NATIONAL AERONAUTICS AND SPACE ADMINISTRATION

48 CFR Part 1845


Government Property--Instructions for Preparing NASA Form 1018

AGENCY: Office of Procurement, Contract Management Division, National 
Aeronautics and Space Administration (NASA).

ACTION: Final rule.

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SUMMARY: This rule adopts as final, without change, the interim rule 
published in the Federal Register on November 12, 2002, which amended 
the NASA Federal Acquisition Regulation Supplement (NFS) to provide 
policies and procedures for proper reporting of heritage assets as part 
of contractor annual reports of NASA property in its custody, and to 
clarify other property classifications. 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 DATE: May 2, 2003.

FOR FURTHER INFORMATION: Lou Becker, NASA Headquarters, Office of 
Procurement, Contract Management Division (Code HK), Washington, DC 
20546, telephone: (202) 358-4593, e-mail to: [email protected].

SUPPLEMENTARY INFORMATION:

A. Background

    NASA must account for and report assets in accordance with 31 
U.S.C. 3515, Federal Accounting Standards, and Office of Management and 
Budget (OMB) Bulletin No. 01-09, Form and Content of Agency Financial 
Statements. Since contractors maintain NASA's official records NASA-
owned assets in contractors' possession, NASA must obtain annual data 
from those records to facilitate proper accounting and control over the 
assets. NASA published an interim rule in the Federal Register (67 FR 
68533) on November 12, 2002, specifying policies and procedures for 
proper reporting of heritage assets by providing a definition and 
directing that these assets be reported within appropriate property 
classifications as part of contractor annual reports of NASA property 
in its custody. No public comments were received. The interim rule is 
converted to a final rule without change.
    This 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 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, or collections of information from offerors, contractors, 
or members of the public which require the approval of the Office of 
Management and Budget under 44 U.S.C. 3501, et seq.

List of Subjects in 48 CFR Part 1845

    Government procurement.

Charles W. Duff II,
Acting Assistant Administrator for Procurement.

Interim Rule Adopted as Final Without Change

0
Accordingly, NASA adopts the interim rule amending 48 CFR part 1845, 
which was published in the Federal Register on November 12, 2002 (67 FR 
68533--68535), as a final rule without change.

[FR Doc. 03-10807 Filed 5-1-03; 8:45 am]
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