DATE: November 12, 2002

SUBJECT: National Aeronautics and Space Administration Federal Acquisition Regulation (FAR) Supplement (NFS); Instructions for Preparing NASA Form 1018

SOURCE: Federal Register, November 12, 2002, Vol. 67, No. 218, page 68533

AGENCIES: National Aeronautics and Space Administration (NASA)

ACTION: Interim Rule

SYNOPSIS: This interim rule amends NFS 1845.7101, Instructions for Preparing NASA Form 1018 [NASA Property in the Custody of Contractors], 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.

DATES: This interim rule is effective November 12, 2002. Comments on the interim rule must be submitted on or before January 13, 2003.

FOR FURTHER INFORMATION CONTACT: Lou Becker, NASA Headquarters, Office of Procurement, Contract Management Division (Code HK), Washington, DC 20546; 202-358-4593; e-mail: lbecker@hq.nasa.gov.

SUPPLEMENTAL INFORMATION: NASA must account for and report assets in accordance with Title 31 of the U.S. Code, Section 3515 (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 for NASA-owned assets in contractors' possession, NASA must obtain annual data from those records to facilitate proper accounting and control over the assets. NASA Form 1018 is used for this purpose.

This interim rule amends paragraph (a) of NFS 1845.7101-1, Property Classification, to provide policies and procedures for proper reporting of heritage assets as follows:

      "(1) Contractors shall report costs in the classifications on NF 1018, as described in this section. The cost of heritage assets will be reported on the NF 1018 under the appropriate classification. Supplemental reporting may also be required. Heritage assets are property, plant and equipment that possess one or more of the following characteristics: (i) historical or natural significance; (ii) cultural, educational or aesthetic value; or (iii) significant architectural characteristics.
      "(2) Examples of NASA heritage assets include buildings and structures designated as National Historic Landmarks as well as aircraft, spacecraft and related components on display to enhance public understanding of NASA programs. Heritage assets which serve both a heritage and government operation function are considered multi-use when the predominant use is in general government operations. Multi-use heritage assets will not be considered heritage assets for NF 1018 supplemental reporting purposes."

NFS 1845.7101-1 is also revised as follows to clarify other property classifications:

Finally, the last two sentences of paragraph (a) of NFS 1845.7101-2, Transfers of Property, are revised to read: "Shipping and receiving contractors shall promptly submit copies of shipping and receiving documents to the Center Deputy Chief Financial Officer, Finance, responsible for their respective contracts when accountability for NASA property is transferred to, or received from, other contracts, contractors, NASA Centers, or government agencies."

FOR FURTHER INFORMATION CONTACT: Panoptic Enterprises at 703-451-5953 or by e-mail to Panoptic@FedGovContracts.com.

Copyright 2002 by Panoptic Enterprises. All Rights Reserved.

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