Overview
Title
Submission for OMB Review; Payment by Electronic Fund Transfer-Other Than System for Award Management
Agencies
ELI5 AI
The government is asking businesses that work with them to give certain bank details so they can pay them electronically, and they want people to share their thoughts about this until February 4, 2021.
Summary AI
The Department of Defense, General Services Administration, and National Aeronautics and Space Administration have issued a notice regarding a request for the Office of Management and Budget to review and approve updates to an information collection requirement for electronic fund transfer payments. This requirement involves the contractors providing specific financial information to facilitate government payments via electronic funds transfer under the Federal Acquisition Regulation. The information collection is mandatory for contractors and is associated with OMB Control No. 9000-0144. Public comments on this matter are invited until February 4, 2021.
Abstract
Under the provisions of the Paperwork Reduction Act, the Regulatory Secretariat Division has submitted to the Office of Management and Budget (OMB) a request to review and approve a revision and renewal of a previously approved information collection requirement regarding payment by electronic fund transfer (other than System for Award Management).
Keywords AI
Sources
AnalysisAI
The document under review is a notice from the Department of Defense, General Services Administration, and National Aeronautics and Space Administration. These agencies are calling for public comments on a request submitted to the Office of Management and Budget (OMB) aimed at renewing and revising the requirements for contractors to provide information for electronic fund transfer payments. This requirement, identified with OMB Control No. 9000-0144, involves contractors sharing specific banking details to facilitate government payments through electronic means, a practice guided by the Federal Acquisition Regulation.
General Summary
The document outlines a procedural necessity for contractors working with the government to submit key financial details to enable electronic payments. This is separate from the System for Award Management (SAM) registration and addresses different protocols for transferring funds. Public input is requested by February 4, 2021, as part of the process of assessing and possibly updating these collection requirements.
Significant Issues and Concerns
While the document primarily sticks to outlining a regulatory requirement, it can be seen as daunting due to the formal and bureaucratic language used. Given that the aim is for transparency and simplicity, the complexity may present a barrier to smaller contractors who do not have the resources for dealing with intricate government documentation and procedures. Moreover, the instructions for submitting comments could benefit from a more detailed, step-by-step guide, especially for individuals not familiar with using government websites.
Impact on the Public and Stakeholders
For the general public, this document might not hold significant direct impact as it is more concerned with administrative processes between the government and contractors. However, the smooth processing of government transactions can indirectly benefit the public by ensuring efficiency and accountability in public spending.
For contractors, especially those dealing with government contracts, this notice involves a substantial administrative responsibility. While larger firms may have the resources to manage the compliance requirements effectively, smaller organizations or individual contractors could find the detail and burden of information provision overwhelming. This could result in either an implicit exclusion from competitive procurement opportunities or a stringent administrative workload.
In sum, while the regulatory aim for clarity and oversight in government financial management is crucial, the processes must balance thoroughness with accessibility to ensure equitable participation and compliance across diverse contractor demographics. Enhancing ease of understanding and submission mechanisms could greatly benefit both stakeholders and the agencies involved.
Issues
• The document does not provide specific information on any potential wasteful spending. It merely details a procedural requirement for electronic fund transfer information from contractors.
• There is no indication of spending that favors particular organizations or individuals. The focus is on the regulatory requirement for all contractors.
• The language used in the document is primarily formal and regulatory, which might be considered complex for individuals not familiar with government procurement processes.
• The instructions for submitting comments and obtaining more information include URLs and contact details, which might be confusing if someone is not familiar with navigating these platforms. Clarity could be enhanced by providing more detailed step-by-step guidance.
• The section on the burden of information provision lists very specific requirements for contractors, which could seem overwhelming or burdensome to smaller contractors without dedicated administrative resources.