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Panoptic Enterprises' FEDERAL CONTRACTS DISPATCH

DATE: February 20, 2002

SUBJECT: National Aeronautics and Space Administration Federal Acquisition Regulation (FAR) Supplement (NFS); Major Breach of Security

SOURCE: Federal Register, February 20, 2002, Vol. 67, No. 34, page 7618

AGENCIES: National Aeronautics and Space Administration (NASA)

ACTION: Final Rule

SYNOPSIS: NASA is amending NFS 1832.702-70, NASA Policy, to revise the criteria for incrementally funding contracts and establish dollar thresholds for incremental funding and deobligations under contracts.

EFFECTIVE DATE: February 20, 2002.

FOR FURTHER INFORMATION CONTACT: Ron Lentz, NASA Headquarters (Code HK), Washington, DC; telephone: 202-358-0416; e-mail: rlentz@hq.nasa.gov.

SUPPLEMENTAL INFORMATION: NFS 1832.702-70 had limited incremental funding of cost-reimbursement contracts and fixed-price research and development contracts to those with a total value greater than $1,000,000, with a period of performance that overlapped the succeeding fiscal year, and without funds available for the total contract value (cost-reimbursement research and development contracts only needed to lack funds for the total contract value to qualify for incremental funding). However, in spite of these restrictions, a high number of incremental funding modifications were being issued, and those modifications created a workload burden for NASA budget and procurement personnel. Therefore, NFS 1832.702-70 is revised as follows:

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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