[Code of Federal Regulations]
[Title 48, Volume 3]
[Revised as of October 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 48CFR232.503-15]

[Page 274-275]
 
            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM
 
                    CHAPTER 2--DEPARTMENT OF DEFENSE
 
PART 232--CONTRACT FINANCING--Table of Contents
 
             Subpart 232.5--Progress Payments Based on Costs
 
Sec. 232.503-15  Application of Government title terms.

    (d) An administrative contracting officer (ACO) determination that 
the contractor's material management and accounting system conforms to 
the standard at 252.242-7004(f)(7) constitutes the contracting officer 
approval requirement of FAR 32.503-15(d). Prior to granting blanket 
approval of

[[Page 275]]

cost transfers between contracts, the ACO should determine that--
    (i) The contractor retains records of the transfer activity that 
took place in the prior month;
    (ii) The contractor prepares, at least monthly, a summary of the 
transfer activity that took place in the prior month; and
    (iii) The summary report includes as a minimum, the total number and 
dollar value of transfers.

[56 FR 36409, July 31, 1991, as amended at 57 FR 42632, Sept. 15, 1992]