By Craig Stetson CPA, CGMA
Director | Government Contract Regulatory Compliance Practice
A final DoD, GSA and NASA rule was issued last week revising several provisions of the FAR to implement inflationary adjustments to various acquisition-related thresholds. Frequently used thresholds are summarized below.
Most notably included is an upward adjustment of $50,000 related to submission of certified cost or pricing data (formally known as TINA) requirements as well as coverage under the Cost Accounting Standards. The threshold now for both is $750,000.
- The micro-purchase base threshold of $3,000 (FAR 2.101) is increased to $3,500.
- The simplified acquisition threshold (FAR 2.101) of $150,000 is unchanged.
- The FedBizOpps preaward and post-award notices (FAR part 5) remain at $25,000 because of trade agreements.
- The threshold for use of simplified acquisition procedures for acquisition of commercial items (FAR 13.500) is raised from $6.5 million to $7 million.
- The cost or pricing data threshold (FAR 15.403-4) and the statutorily equivalent Cost Accounting Standard threshold are raised from $700,000 to $750,000.
- The prime contractor subcontracting plan (FAR 19.702) floor is raised from $650,000 to $700,000, and the construction threshold of $1,500,000 stays the same.
- The threshold for reporting first-tier subcontract information including executive compensation will increase from $25,000 to $30,000 (FAR subpart 4.14 and section 52.204-10)
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