Cost Accounting Standards Board; Accounting for the Costs of Employee Stock Ownership Plans (ESOPs) Sponsored by Government Contractors
The Cost Accounting Standards Board (CASB), Office of Federal Procurement Policy, invites public comments on proposed amendments to the Cost Accounting Standards (CAS) 412, ``Cost accounting standard for composition and measurement of pension cost,'' and CAS 415, ``Accounting for the cost of deferred compensation.'' These proposed amendments address issues concerning the recognition of the costs of Employee Stock Ownership Plans (ESOPs) under Government cost-based contracts and subcontracts. These proposed amendments provide criteria for measuring the costs of ESOPs and their assignment to cost accounting periods. The allocation of a contractor's assigned ESOP costs to contracts and subcontracts is addressed in other Standards. The proposed amendments also specify that accounting for the costs of ESOPs will be covered by the provisions of CAS 415, ``Accounting for the cost of deferred compensation'' and not by any other Standard.
Privacy Act of 1974; System of Records and Routine Uses
The Central Intelligence Agency has undertaken and completed an Agency-wide review of its Privacy Act systems of records. As a result of this review, in the May 24 2005 issue of the Federal Register, the Agency solicited public comments on the complete set of proposed revised Privacy Act systems of records notices, the proposed modification of one of its existing routine uses, and the proposed addition of seven new routine uses to its ``Statement of General Routine Uses'' for information subject to the Privacy Act. As required by the Privacy Act, the Agency provided an opportunity for interested persons to submit comments on these notices and routine uses. The Agency did not receive any comments.