[Federal Register Volume 69, Number 62 (Wednesday, March 31, 2004)]
[Rules and Regulations]
[Pages 16832-16833]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-7238]


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NATIONAL AERONAUTICS AND SPACE ADMINISTRATION

48 CFR Parts 1845 and 1852

RIN 2700-AC73


Government Property--Instructions for Preparing NASA Form 1018

AGENCY: National Aeronautics and Space Administration.

ACTION: Final rule.

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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.

FOR FURTHER INFORMATION CONTACT: Lou Becker, NASA Headquarters, Office 
of

[[Page 16833]]

Procurement, Contract Management Division (Code HK), Washington, DC 
20546, telephone: (202) 358-4593, e-mail to: [email protected].

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.

List of Subjects in 48 CFR Parts 1845 and 1852

    Government procurement.

Tom Luedtke,
Assistant Administrator for Procurement.

Interim Rule Adopted as Final Without Change

0
Accordingly, NASA adopts the interim rule amending 48 CFR parts 1845 
and 1852, which was published in the Federal Register on October 31, 
2003 (68 FR 62023--62026), as a final rule without change.

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

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