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The GCAlert is our express notification of significant happenings in the government-contracting arena of an immediate nature. It will be posted on our website at www.GaffeyCPA.com
along with issues of our monthly GCNewsletter.
If you would like more information on the subjects included in this or any of our future GCAlert or GCNewsletter issues contact Sam Davidson at
703-748-5816 or via email at Samuel.Davidson@GaffeyCPA.com
| Facilities Capital Cost of Money Rate |
The Facilities Capital Cost of Money, Prompt Payment Act and Contract Disputes Act interest rate applicable for the period July 1, 2007 through December 31, 2007 has been increased to 5.75% per annum.
This rate of interest was published in the Federal Register, Volume 72, Number 125, pages 35742-35743 on Friday, June 29, 2007. The previous rate applicable for the period January 1, 2007 through June 30, 2007 was 5.25%. These interest rates and historical interest rates dating back to January 1980 can be found at http://www.treasurydirect.gov/govt/rates/tcir/tcir_opdprmt2.htm
| Cost Accounting Standards Threshold Increase |
The Cost Accounting Standards Board has taken action to comply with Section 822 of the 2006 National Defense Authorization Act (PL 109-163) that requires the threshold for CAS applicability to be the same as the threshold for compliance with the Truth in Negotiations Act (TINA). The final rule, effective June 14, 2007, increases the CAS threshold to $650,000 to be compatible with the TINA threshold of the same amount. This change can be found in the Federal Register, June 14, 2007 (Volume 72, Number 114) Pages 32809-32813.
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