[May 27, 2003 (Volume 68, Number 101)] [Unified Agenda] From the Federal Register Online via GPO Access [frwais.access.gpo.gov] [Page 31180-31182] ----------------------------------------------------------------------- Part XXXVII Office of Management and Budget ----------------------------------------------------------------------- Semiannual Regulatory Agenda [[Page 31180]] OFFICE OF MANAGEMENT AND BUDGET (OMB) _______________________________________________________________________ OFFICE OF MANAGEMENT AND BUDGET 5 CFR Ch. III and 48 CFR Ch. 01 Federal Regulations; OMB Circulars, OFPP Policy Letters, and CASB Cost Accounting Standards Included in the Semiannual Agenda of Federal Activities AGENCY: Office of Management and Budget. ACTION: Semiannual regulatory agenda. _______________________________________________________________________ SUMMARY: The Office of Management and Budget (OMB) is publishing its semiannual agenda of upcoming activities for OMB Circulars, Office of Federal Procurement Policy (OFPP) Policy Letters, and Cost Accounting Standards Board (CASB) Cost Accounting Standards. OMB Circulars and OFPP Policy Letters are published in accordance with OMB's internal procedures for implementing Executive Order 12866 (October 4, 1993, 58 FR 51735). OMB Policy guidelines are issued under authority derived from several sources including: subtitles I, II, and V of title 31, United States Code; Executive Order 11541; and other specific authority as cited. OMB Circulars and OFPP Policy Letters communicate guidance and instructions of a continuing nature to executive branch agencies. As such, most OMB Circulars and OFPP Policy Letters are not regulations. Nonetheless, because these issuances are typically of public interest, they are generally published in the Federal Register in both proposed (for public comment) and final stages. For this reason, they are presented below in the standard format of ``prerule,'' ``proposed rule,'' and ``final rule'' stages. CASB Cost Accounting Standards are issued under authority derived from 41 U.S.C. 422. Cost Accounting Standards are rules governing the measurement, assignment, and allocation of costs to contracts with the United States Government. For purposes of this agenda, we have excluded directives that outline procedures to be followed in connection with the President's budget and legislative programs and directives that affect only the internal functions, management, or personnel of Federal agencies. FOR FURTHER INFORMATION CONTACT: See agency person listed for each entry in the agenda, c/o Office of Management and Budget, Washington, DC 20503. On the overall agenda, contact Stephen A. Weigler, (202) 395- 4855, at the above address. Stephen A. Weigler, Deputy Assistant Director for Administration. Office of Management and Budget--Prerule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 3534 Accounting for the Cost of Employee Stock Ownership Plans........................... 0348-AB57 ---------------------------------------------------------------------------------------------------------------- Office of Management and Budget--Proposed Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 3535 Revision of OMB Circular A-127 To Implement the Federal Financial Management 0348-AB46 Improvement Act and To Reflect Updated Financial Management Policies; Creation of a Single Financial Management Circular................................................ 3536 Policies on Management of Federal Information Resources (OMB Circular A-130)........ 0348-AB55 ---------------------------------------------------------------------------------------------------------------- Office of Management and Budget--Long-Term Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 3537 Federal Participation in the Development and Use of Volunteer Consensus Standards 0348-AB53 and in Conformity Assessment Activities (OMB Circular A-119)........................ ---------------------------------------------------------------------------------------------------------------- Office of Management and Budget--Completed Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 3538 Accounting for the Cost of Post-Retirement Benefit Plans (Health Care).............. 0348-AB54 ---------------------------------------------------------------------------------------------------------------- [[Page 31181]] _______________________________________________________________________ Office of Management and Budget (OMB) Prerule Stage _______________________________________________________________________ 3534. [bull] ACCOUNTING FOR THE COST OF EMPLOYEE STOCK OWNERSHIP PLANS Priority: Substantive, Nonsignificant Legal Authority: 41 USC 422 CFR Citation: 48 CFR 99 Legal Deadline: None Abstract: The Cost Accounting Standards Board is proposing to amend its standards to provide criteria for measuring and assigning the costs of employee stock ownership plans sponsored by Government contractors. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 05/00/03 ANPRM Comment Period End 07/00/03 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Richard C. Loeb, Executive Secretary, Cost Accounting Standards Board, Office of Management and Budget, Room 9013, NEOB, 725 17th Street NW., Washington, DC 20503 Phone: 202 395-4550 Fax: 202 395-5105 RIN: 0348-AB57 _______________________________________________________________________ Office of Management and Budget (OMB) Proposed Rule Stage _______________________________________________________________________ 3535. REVISION OF OMB CIRCULAR A-127 TO IMPLEMENT THE FEDERAL FINANCIAL MANAGEMENT IMPROVEMENT ACT AND TO REFLECT UPDATED FINANCIAL MANAGEMENT POLICIES; CREATION OF A SINGLE FINANCIAL MANAGEMENT CIRCULAR Priority: Info./Admin./Other Legal Authority: PL 101-576, Chief Financial Officer's Act of 1990 CFR Citation: 31 CFR 503 Legal Deadline: None Abstract: Last year, OMB planned to rescind OMB Circular A-127 to implement the Federal Financial Management Improvement Act (FFMIA) and to reflect updated financial management polices. After more analysis, OMB decided to rescind A-127 and the following financial management circulars and replace them with one circular: 1) OMB Circular A-50, Audit Follow-up; 2) OMB Circular A-123, Management Accountability and Control; 3) OMB Circular A-127, Financial Management Systems; 4) OMB Circular A-127, Financial Management Systems Revised Transmittal Memorandum No. 2; and 5) OMB Circular A-134, Financial Accounting Principles and Standards. For more than a decade, there has been a myriad of legislation enacted to hold Federal agencies accountable for their performance and to manage for results. The volume of guidance issued by OMB to help agencies meet these new statutory and administrative requirements is complex and confusing, and has resulted in agency performance and financial management and reporting more focused on compliance than performance and results. The purpose of rescinding existing Circulars and replacing them with one document is to consolidate, establish, and update Governmentwide policies and procedures related to executive branch Federal agencies' financial and performance management and reporting. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Notice for Comment 05/00/03 Final Action 08/00/03 Regulatory Flexibility Analysis Required: No Government Levels Affected: Federal URL For More Information: http://www.whitehouse.gov/omb/financial Agency Contact: Areletha Venson, Administrative Support Specialist, Office of Management and Budget Phone: 202 395-3993 Fax: 202 395-3952 Email: avenson@omb.eop.gov RIN: 0348-AB46 _______________________________________________________________________ 3536. POLICIES ON MANAGEMENT OF FEDERAL INFORMATION RESOURCES (OMB CIRCULAR A-130) Priority: Substantive, Nonsignificant Legal Authority: PL 104-106 CFR Citation: Not Yet Determined Legal Deadline: None Abstract: OMB Circular A-130 establishes policy for the management of Federal information resources, and includes procedural and analytic guidelines for implementing aspects of these policies as appendices. OMB is reviewing appendix III of the Circular for consistency with the Federal Information Security Management Act. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Proposed Revision 05/00/03 Final Revision 09/00/03 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Kamela White, Policy Analyst, Office of Management and Budget, Room 10236, NEOB, 725 17th Street NW., Washington, DC 20503 Phone: 202 395-3785 Fax: 202 395-5167 Email: kgwhite@omb.eop.gov RIN: 0348-AB55 [[Page 31182]] _______________________________________________________________________ Office of Management and Budget (OMB) Long-Term Actions _______________________________________________________________________ 3537. FEDERAL PARTICIPATION IN THE DEVELOPMENT AND USE OF VOLUNTEER CONSENSUS STANDARDS AND IN CONFORMITY ASSESSMENT ACTIVITIES (OMB CIRCULAR A-119) Priority: Substantive, Nonsignificant Legal Authority: 31 USC 1111; PL 104-113 CFR Citation: Not Yet Determined Legal Deadline: None Abstract: OMB Circular A-119, ``Federal Participation in the Development and Use of Voluntary Consensus Standards,'' contains reporting requirements regarding agency use of Government-unique standards and voluntary consensus standards along with agency participation in voluntary consensus standards bodies. The Circular instructs agencies to use voluntary consensus standards in lieu of Government-unique standards in their procurement and regulatory activities, except where inconsistent with law or otherwise impractical. Language in A-119 calls on OMB to review the Circular for effectiveness three years from the date of issuance (February 1998). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Proposed Revision 12/00/04 Final Revision 04/00/05 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Jacqueline Zeiher, Policy Analyst, Office of Management and Budget, Room 10236, NEOB, 725 17th Street NW., Washington, DC 20503 Phone: 202 395-4638 Fax: 202 395-4638 Email: jzeiher@omb.eop.gov RIN: 0348-AB53 _______________________________________________________________________ Office of Management and Budget (OMB) Completed Actions _______________________________________________________________________ 3538. ACCOUNTING FOR THE COST OF POST-RETIREMENT BENEFIT PLANS (HEALTH CARE) Priority: Substantive, Nonsignificant Legal Authority: 41 USC 422 CFR Citation: 48 CFR 99 Legal Deadline: None Abstract: The Cost Accounting Standards Board is proposing a new standard that provides criteria for measuring the costs of post- retirement benefit plans, assigning the measured costs to cost accounting periods, and allocating the assigned costs to segments of an organization. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ ANPRM 10/05/00 65 FR 59504 ANPRM Comment Period End 12/19/00 Withdrawn 03/13/03 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Richard C. Loeb, Executive Secretary, Cost Accounting Standards Board, Office of Management and Budget, Room 9013, NEOB, 725 17th Street NW., Washington, DC 20503 Phone: 202 395-4550 Fax: 202 395-5105 RIN: 0348-AB54 [FR Doc. 03-7424 Filed 05-23-03; 8:45 am] BILLING CODE 3110-01-S