pjargilan Posted May 27, 2009 Report Share Posted May 27, 2009 I have a cost plus award fee IDIQ contract with numerous task orders that have FY04 funding. This funding is expiring this year; however I have not received the required DCAA final indirect rate audit so I'm unable to close them out. I need to replace the expiring funds to pay for future indirect rate adjustments and close out costs. Should I ask the funding activity for current year funds? Link to comment Share on other sites More sharing options...
formerfed Posted May 27, 2009 Report Share Posted May 27, 2009 I have a cost plus award fee IDIQ contract with numerous task orders that have FY04 funding. This funding is expiring this year; however I have not received the required DCAA final indirect rate audit so I'm unable to close them out. I need to replace the expiring funds to pay for future indirect rate adjustments and close out costs. Should I ask the funding activity for current year funds? That's a question for your finance/comptroller type people. Use of current year funds normally is the last resort. What usually happens is expired funds get rolled up into another account to pay for outstanding obligations such as indirect rate adjustments. So agencies usually have a means to pay even when the immediate funds are gone. For example, some agencies with annual funds can use and cite funds for the previous three years. Then those funds lose their individual identity and roll over into an "M" account. Link to comment Share on other sites More sharing options...
Navy_Contracting_4 Posted May 27, 2009 Report Share Posted May 27, 2009 I have a cost plus award fee IDIQ contract with numerous task orders that have FY04 funding. This funding is expiring this year; however I have not received the required DCAA final indirect rate audit so I'm unable to close them out. I need to replace the expiring funds to pay for future indirect rate adjustments and close out costs. Should I ask the funding activity for current year funds? Are the task orders at issue physically complete? Haev you considered using quick closeout procedures, as described in FAR 42.708? If you can use quick closeout, you will save a lot of time and frustration identifying and obtaining new funds, replacing the expiring funds with the new funds, and then de-obligating some of the new funds you just got once the rates are finalized. Address it now, if you can, before the funds expire. Link to comment Share on other sites More sharing options...
Guest Vern Edwards Posted May 27, 2009 Report Share Posted May 27, 2009 formerfed: "M" accounts no longer exist. They were eliminated in 1990 by Public Law 101-510, Sec. 1405. pjargilan said that the FY04 funds were "expiring" when what he probably meant is that the appropriation account has closed and the unexpended balances have been cancelled. The latter situation is different from expiration of funds. Funds "expire" when the period of availability for obligation has ended. Such funds go into an expired account where they retain their fiscal year identity and remain available for expenditure for another five years in order to liquidate obligations and make obligation adjustments. After the five years the account is closed. Once the account has closed 31 U.S.C. ? 1553( prescribes as follows: ((1) Subject to the provisions of paragraph (2), after the closing of an account under section 1552(a) or 1555 of this title, obligations and adjustments to obligations that would have been properly chargeable to that account, both as to purpose and in amount, before closing and that are not otherwise chargeable to any current appropriation account of the agency may be charged to any current appropriation account of the agency available for the same purpose.(2) The total amount of charges to an account under paragraph (1) may not exceed an amount equal to 1 percent of the total appropriations for that account. Assuming that I am right about the situation, the answer to the question is yes. Link to comment Share on other sites More sharing options...
formerfed Posted May 28, 2009 Report Share Posted May 28, 2009 Vern, Thanks for the update. Wow. I had no idea. I lost sight of that when my agency went to non-appropriated funding. formerfed:"M" accounts no longer exist. They were eliminated in 1990 by Public Law 101-510, Sec. 1405. pjargilan said that the FY04 funds were "expiring" when what he probably meant is that the appropriation account has closed and the unexpended balances have been cancelled. The latter situation is different from expiration of funds. Funds "expire" when the period of availability for obligation has ended. Such funds go into an expired account where they retain their fiscal year identity and remain available for expenditure for another five years in order to liquidate obligations and make obligation adjustments. After the five years the account is closed. Once the account has closed 31 U.S.C. ? 1553( prescribes as follows: Assuming that I am right about the situation, the answer to the question is yes. Link to comment Share on other sites More sharing options...
pjargilan Posted May 28, 2009 Author Report Share Posted May 28, 2009 Are the task orders at issue physically complete? Haev you considered using quick closeout procedures, as described in FAR 42.708? If you can use quick closeout, you will save a lot of time and frustration identifying and obtaining new funds, replacing the expiring funds with the new funds, and then de-obligating some of the new funds you just got once the rates are finalized. Address it now, if you can, before the funds expire. The work is physically complete on the task orders. I've been pushing the contractor to do quick close outs but unfortunately he is not a fast moving contractor. Quite frustrating for me! Link to comment Share on other sites More sharing options...
pjargilan Posted May 28, 2009 Author Report Share Posted May 28, 2009 Thanks for the information. That will help me with trying to get the current year funding from the activities for invoices that need to be paid prior to getting the quick close out accomplished. formerfed:"M" accounts no longer exist. They were eliminated in 1990 by Public Law 101-510, Sec. 1405. pjargilan said that the FY04 funds were "expiring" when what he probably meant is that the appropriation account has closed and the unexpended balances have been cancelled. The latter situation is different from expiration of funds. Funds "expire" when the period of availability for obligation has ended. Such funds go into an expired account where they retain their fiscal year identity and remain available for expenditure for another five years in order to liquidate obligations and make obligation adjustments. After the five years the account is closed. Once the account has closed 31 U.S.C. ? 1553( prescribes as follows: Assuming that I am right about the situation, the answer to the question is yes. Link to comment Share on other sites More sharing options...
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