Determination of Executive Compensation Benchmark Amount
The Office of Management and Budget (OMB) is hereby publishing the attached memorandum to the heads of executive departments and agencies concerning the determination of the maximum benchmark compensation amount that will be allowable under government contracts during contractors FY 2006$546,689. This determination is required under Section 39 of the Office of Federal Procurement Policy (OFPP) Act (41 U.S.C. 435), as amended. The benchmark compensation amount applies equally to both defense and civilian procurement agencies.
Cost Accounting Standards Board; Accounting for Insurance Costs
The Cost Accounting Standards (CAS) Board, Office of Federal Procurement Policy, invites public comments on the staff discussion paper (SDP) regarding CAS 416, ``Accounting for Insurance Costs.'' In particular, this staff discussion paper addresses the use of the term ``catastrophic losses'' in CAS 416-50(b)(1).
Cost Accounting Standards Board; T&M Contracts for Commercial Items
The Cost Accounting Standards (CAS) Board is proposing to revise the CAS by providing an exemption for time-and-materials (T&M) and labor-hour (LH) contracts for the acquisition of commercial items.