OSEC
Final Rules
Audit Requirements for Grants, Contracts, and Other Agreements
[ 4/2/2003]
[ PDF]
FR Doc 03-7887
[Federal Register: April 2, 2003 (Volume 68, Number 63)]
[Rules and Regulations]
[Page 16161-16162]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr02ap03-17]
[[Page 16161]]
-----------------------------------------------------------------------
Part IV
Department of Labor
-----------------------------------------------------------------------
29 CFR Parts 96 and 99
Audit Requirements for Grants, Contracts, and Other Agreements; Audits
of States, Local Governments, and Non-profit Organizations; Final Rules
[[Page 16162]]
-----------------------------------------------------------------------
DEPARTMENT OF LABOR
Office of the Secretary
29 CFR Part 96
RIN 1291-AA26
Audit Requirements for Grants, Contracts, and Other Agreements
AGENCY: Office of the Secretary, Labor.
ACTION: Final rule; no material change.
-----------------------------------------------------------------------
SUMMARY: The Department of Labor hereby finalizes its regulation on
``Audit Requirements For Grants, Contracts, and Other Agreements,'' to
ensure consistency with previously published amendments to ``Grants and
Agreements with Institutions of Higher Education, Hospitals, and Other
Non-Profit Organizations, and with Commercial Organizations, Foreign
Governments, Organizations Under the Jurisdiction of Foreign
Governments and International Organizations'' and ``Uniform
Administrative Requirements for Grants, and Cooperative Agreements to
State and Local Governments.''
EFFECTIVE DATE: Effective May 2, 2003.
FOR FURTHER INFORMATION CONTACT: Jeff Saylor, Acting Director, Division
of Acquisition Management Services, U.S. Department of Labor, 200
Constitution Avenue, NW., Room N-5425, Washington, DC 20210. Telephone
(202) 693-7285. E-mail: OASAMRegComments@dol.gov.
SUPPLEMENTARY INFORMATION: The Single Audit Act Amendments of 1996,
(Public Law 104-156, 110 Stat. 1396), and the June 24, 1997, revision
of OMB Circular A-133, ``Audits of States, Local Governments, and Non-
Profit Organizations'' (62 FR 35278, June 30, 1997), required agencies
to adopt in codified regulations the standards in the revised Circular
A-133 by August 29, 1997, so that they will apply to audits of fiscal
years beginning after June 30, 1996. The revised Circular A-133 co-
located audit requirements for States, local governments, and non-
profit organizations. As a consequence, OMB rescinded OMB Circular A-
128, ``Audits of State and Local Governments.'' The Department's
interim final rule has been in effect since March 25, 1999 (64 FR
14539). No comments were received on this rule. Accordingly, the
interim rule amending 29 CFR part 96 is being adopted as a final rule
without change.
Paperwork Reduction Act
This regulation is subject to the Paperwork Reduction Act.
Information is submitted on the Standard Form SF-SAC, entitled ``Data
Collection Form for Reporting on Audits of States, Local Governments,
and Non-Profit Organizations for Fiscal Year Ending Dates On or After
January 1, 2001.'' The U.S. Census Bureau is acting as the collection
agent for OMB. OMB has issued approval number 0348-0057 for this data
collection.
Executive Order 12866 and Significant Regulatory Actions
This rule is considered by the Department of Labor to be a
``significant regulatory action'' under section 3(f) of E.O. 12866.
Accordingly this rule has been submitted to and approved by the Office
of Management and Budget.
This rule will not have a significant economic impact on a
substantial number of small entities. This final rule does not affect
the amount of funds provided in the covered programs, but rather
increases the threshold for non-Federal entities subject to audit,
thereby reducing burden on some small entities. Accordingly, the
Department determined that this rule will not have a significant
economic impact on a substantial number of small entities. The
Department certified to this effect to the Chief Counsel for Advocacy
of the U.S. Small Business Administration when the interim rule was
published. Therefore, no Regulatory Flexibility Analysis was required.
No comments were received on any aspect of the rule or these
conclusions as set forth in the interim rule.
Small Business Regulatory Enforcement Fairness Act
This rule is not a ``major rule'' under the Small Business
Regulatory Enforcement Fairness Act of 1996 (5 U.S.C. 801 et seq.)
because it is not likely to result in (1) an annual effect on the
economy of $100 million or more; (2) a major increase in costs or
prices for consumers, individual industries, Federal, State or local
government agencies, or geographic regions; or (3) significant adverse
effects on competition, employment, investment, productivity,
innovation, or on the ability of United States-based enterprises to
compete with foreign-based enterprises in domestic or export markets.
Effects on Families
This rule has been assessed under section 654 of the Treasury and
General Government Appropriations Act, 1999, for its effect on family
well-being and we hereby certify that the rule will not adversely
affect the well-being of families.
Consistent with the Small Business Regulatory Enforcement Act of
1996, DOL will submit to Congress a report regarding the issuance of
today's final rule prior to the effective date set forth at the outset
of this notice. The report will note the Office of Management and
Budget's determination that this rule does not constitute a major rule
under that Act 5 U.S.C. 801, 804.
List of Subjects in 29 CFR Part 96
Audit Requirements For Grants, Contracts, And Other Agreements.
Signed at Washington, DC, on March 26, 2003.
Elaine L. Chao,
Secretary of Labor.
[FR Doc. 03-7887 Filed 4-1-03; 8:45 am]
BILLING CODE 4510-23-P
|