This collection is approved based on the revised materials provided by the Agency.
Inventory as of this Action
Requested
Previously Approved
04/30/2019
36 Months From Approved
04/30/2016
661
0
649
3,920
0
977
0
0
0
NASA collects information from its contractors to ensure effective accountability and control of NASA assets in accordance with Federal Financial Accounting Standards.An annual collection of summary information from NASA contractors is necessary to validate NASA assets and associated depreciation on financial statements and essential property management reports. The NASA Form 1018/NASA Property in the Custody of Contractions is the information collection instrument used to collect the data.
US Code:
31 USC 3512
Name of Law: Executive Agency Accounting and other financial Management Reports and Plans
NASA Fiscal Year 2014 Agency Financial Report showed that over $3.3 billion of the Agencyâs $7.7 billion in property, plant and equipment was held by contractors. That equates to nearly 43% of the items in NASAâs capital inventories. There are more contractors with property in their custody over $1M in value. The reporting process for property over $1M in value is more extensive, and therefore increases the burden.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.