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Barry McVay's FEDERAL CONTRACTS DISPATCH

DATE: February 7, 2000

FROM: Barry McVay, CPCM

SUBJECT: Cost Accounting Standards Board (CASB); Applicability, Thresholds, and Waiver of Cost Accounting Standards Coverage

SOURCE: Federal Register, February 7, 2000, Vol. 65, No. 25, page 5989

AGENCIES: CASB, Office of Federal Procurement Policy (OFPP), Office of Management and Budget (OMB)

ACTION: Interim Rule

SYNOPSIS: The CASB is revising applicability, thresholds and procedures for the application of the Cost Accounting Standards (CAS) to negotiated government contracts. The CASB is taking action to implement Section 802 of the National Defense Authorization Act for Fiscal Year 2000, Public Law 106-65.

EDITOR'S NOTE: The CASB's regulations and the CAS are in Chapter 99 of Title 48 of the Code of Federal Regulations (CFR). All the changes are in Part 9903, Contract Coverage, Subpart 9903.2, CAS Program Requirements.

DATES: The effective date of this interim rule is April 2, 2000. Comments must be submitted April 7, 2000. (EDITOR'S NOTE: April 2 is a Sunday. The effective date of the interim rule should be April 7, which is 60 days after the February 7 date of the interim rule.)

ADDRESSES: Send comments to Richard C. Loeb, Executive Secretary, Cost Accounting Standards Board, Office of Federal Procurement Policy, 725 17th Street, NW, Room 9013, Washington, DC 20503. Attn: CASB Docket 00-01. E-mail comments will not be accepted.

FOR FURTHER INFORMATION CONTACT: Richard C. Loeb, Executive Secretary, CASB, 202-395-3254.

SUPPLEMENTAL INFORMATION: On October 5, 1999, President Clinton signed the National Defense Authorization Act for Fiscal Year 2000. Section 802 of the act, titled "Streamlined Applicability of Cost Accounting Standards", makes changes in the applicability requirements for CAS coverage. This interim rule revises the CASB's rules to implement these changes.

The following is a summary of the changes being made:

FOR FURTHER INFORMATION CONTACT: Barry McVay at 703-451-5953 or by e-mail at BarryMcVay@FedGovContracts.com.

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