Contr overview2.pptx - CONTRACTING BASICS Part 2...

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CONTRACTING BASICS Part 2
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Administrative Matters Part 4 Federal Procurement Data System (FPDS) A comprehensive web-based tool for agencies to report contract actions. This data results in: A basis for recurring and special reports A means of measuring and assessing the effects A means of measuring and assessing the effect of other policy and management initiatives
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Uniform Contract Line Item Numbering Contract Line Item Numbers should have the following characteristics: 1. Single unit price 2. Separately identifiable from any other items or services on the contract 3. Separate delivery schedule 4. Single accounting classification citation
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Attachment Vs. Exhibit Attachment means any documentation, appended to a contract or incorporated by reference, which does not establish a requirement for deliverables Exhibit means a document, referred to in a contract, which is attached and establishes requirements for deliverables
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Financial Considerations of Contracting There are several fiscal laws which you should be aware of and adhere to as a Contracting Officer. Some of the most important ones are: Misappropriations Act Anti-Deficiency Act Bona-Fide Need Rule
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Appropriations Act Provides budgetary authority for a particular purpose Allows federal agencies to incur obligations and authorize payments from the Treasury Annual fiscal year (FY) Oct – Sep Continuing Resolution Authority May have supplemental or Emergency appropriations during the FY
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Monies In the private sector, all money is--- “Green” Interchangeable Good forever (does not expire or cancel) In the Government, money---- Has many different colors Can only be used for designated purposes Usually “expires” after a certain time
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  • Spring '18
  • Peyton
  • Government, contract line item, simplified acquisition, open competition, government purchase card

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