[Federal Register Volume 69, Number 22 (Tuesday, February 3, 2004)]
[Rules and Regulations]
[Pages 5016-5017]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-2073]


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NATIONAL AERONAUTICS AND SPACE ADMINISTRATION

14 CFR Parts 1260 and 1274

RIN 2700-AC79


NASA Grant and Cooperative Agreement Handbook--Property Reporting

AGENCY: National Aeronautics and Space Administration.

ACTION: Interim rule.

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SUMMARY: This interim rule amends the NASA Grant and Cooperative 
Agreement Handbook to require earlier submission of annual property 
inventory reports. This will allow NASA to meet the revised Agency 
financial statement completion date.

DATES: Effective Date: This interim rule is effective February 3, 2004.
    Comment Date: Comments should be submitted to NASA at the address 
below on or before April 5, 2004.

ADDRESSES: Interested parties should submit written comments to Paul 
Brundage, NASA Headquarters, Office of Procurement, Contract Management 
Division (Code HK), Washington, DC 20546.

FOR FURTHER INFORMATION CONTACT: Paul Brundage, Code HK, (202) 358-
0481, e-mail: [email protected].

SUPPLEMENTARY INFORMATION:

A. Background

    The Office of Management and Budget has required NASA to complete 
its annual financial statements sooner. Since recipients maintain 
NASA's official records for its assets in their possession, NASA uses 
the data contained in recipients' reports for annual financial 
statements and property management. As a result, NASA is changing the 
date for submission of annual Inventory Reports from October 31st to 
October 15th of each year.

B. Regulatory Flexibility Act

    NASA certifies that this interim rule will not have a significant 
economic impact on a substantial number of small entities within the 
meaning of the Regulatory Flexibility Act, 5 U.S.C. 601 et seq., 
because it requires no additional work.

C. Paperwork Reduction Act

    The Paperwork Reduction Act does not apply because this interim 
rule does not impose any new recordkeeping or information collection 
requirements, or collection of information from offerors, contractors, 
or members of the public that require the approval of the Office of 
Management (OMB) and Budget under 44 U.S.C. 3501, et. seq.

D. Determination to Issue an Interim Rule

    In accordance with 41 U.S.C. 418(d), NASA has determined that 
urgent and compelling reasons exist to promulgate this interim rule. 
The basis for this determination is that this change incorporates into 
the Handbook NASA's class deviation issued on September 4, 2003, in 
NASA's Grant Information Circular (GIC) 03-01 for accelerated property 
reporting. Public comments received in response to this interim rule 
will be considered in the formation of the final rule.

List of Subjects in CFR Parts 1260 and 1274

    Grant programs--Science and technology.

Tom Luedtke,
Assistant Administrator for Procurement.

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Accordingly, 14 CFR parts 1260 and 1274 are amended as follows:
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1. The authority citation for 14 CFR part 1260 continues to read as 
follows:

    Authority: 42 U.S.C. 2473(c)(1), and Pub. L. 97-258, 96 Stat. 
1003 (31 U.S.C. 6301, et seq.).

PART 1260--GRANTS AND COOPERATIVE AGREEMENT

0
2. In section 1260.27, revise the date in the introductory text and 
revise the introductory text of paragraph (b) to read as follows:


Sec. 1260.27  Equipment and other property.

Equipment and Other Property (February 2004)

* * * * *
    (b) The Recipient shall submit an annual Inventory Report, to be 
received no later than October 15 of each year, which lists all 
reportable (non-exempt equipment and/or Federally owned property) in 
its custody as of September 30. Negative responses for annual 
Inventory Reports (when there is no reportable equipment) are not 
required. A Final Inventory Report of Federally Owned Property, 
including equipment where title was taken by the Government, will be 
submitted by the Recipient no later than 60 days after the 
expiration date of the grant. Negative responses for Final Inventory 
Reports are required.
* * * * *

0
3. In section 1260.67, revise the introductory text and paragraph (g) 
to read as follows:


Sec. 1260.67  Equipment and other property under grants with commercial 
firms.

Equipment and Other Property Under Grants with Commercial Firms 
(February 2004)

* * * * *
    (g) Recipients shall submit annually a NASA Form 1018, NASA 
Property in the Custody of Contractors, in accordance with the 
instructions on the form, the provisions of 48 CFR (NFS) 1845.71 and 
any supplemental instructions that may be issued by NASA for the 
current reporting period. The original NF 1018 shall be submitted to 
the center Deputy Chief Financial Officer (Finance) with three 
copies sent concurrently to the center Industrial Property Officer. 
The annual reporting period shall be from October 1 of each year 
through September 30 of the following year. The report shall be 
submitted in time to be received by October 15. Negative reports 
(i.e. no reportable property) are required. The information 
contained in the reports is entered into the NASA accounting system 
to reflect current

[[Page 5017]]

asset values for agency financial statement purposes. Therefore, it 
is essential that required reports be received no later than October 
15. A final report is required within 30 days after expiration of 
the agreement.
* * * * *

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4. The authority citation for 14 CFR part 1274 continues to read as 
follows:

    Authority: 42 U.S.C. 2451 et seq., and 31 U.S.C. 6301 to 6308.

PART 1274--COOPERATIVE AGREEMENTS WITH COMMERCIAL FIRMS

0
5. In section 1274.923, revise the date in the introductory text and 
paragraph (f) to read as follows:


Sec. 1274.923  Equipment and Other Property.

Equipment and Other Property (February 2004)

* * * * *
    (f) Recipients shall submit annually a NASA Form 1018, NASA 
Property in the Custody of Contractors, in accordance with the 
instructions on the form, the provisions of 48 CFR (NFS) 1845.71 and 
any supplemental instructions that may be issued by NASA for the 
current reporting period. The original NF 1018 shall be submitted to 
the center Deputy Chief Financial Officer, Finance, with three 
copies sent concurrently to the center Industrial Property Officer. 
The annual reporting period shall be from October 1 of each year 
through September 30 of the following year. The report shall be 
submitted in time to be received by October 15. Negative reports 
(i.e. no reportable property) are required. The information 
contained in the reports is entered into the NASA accounting system 
to reflect current asset values for agency financial statement 
purposes. Therefore, it is essential that required reports be 
received no later than October 15. A final report is required within 
30 days after expiration of the agreement.
* * * * *
[FR Doc. 04-2073 Filed 2-2-04; 8:45 am]
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