Effective Date: March 29, 2019
Expiration Date: March 29, 2024
|| TOC | Preface | Chapter1 | Chapter2 | AppendixA | AppendixB | ALL ||
1.1.1 This chapter provides NASA’s requirements for making and accounting for advances and prepayments to employees, other Federal Government agencies, and non-Federal Government organizations, other than recipients of payments under grants and cooperative agreements. Advance payments to recipients of NASA grants and cooperative agreements are addressed in NPR 9680.1.
1.1.2 Advances. Advances are cash outlays made by NASA to its employees, contractors, or others to cover a part or all of the recipient’s anticipated expenses for the costs of goods and services NASA will acquire. Payments that are made in contemplation of the future receipt of goods, services, other assets, or the incurrence of expenditures are advances. An advance payment may be made only if it is authorized by law.
1.1.3 Prepayments. Prepayments are payments made by a Federal entity to cover certain periodic expenses before those expenses are incurred. Prepayments are a form of advance payment and as such shall be authorized by a specific appropriation, other law, or the President of the United States, as prescribed in 31 U.S.C. § 3324. Federal law does not permit agencies to automatically apply generally accepted industry practice to pay for items in advance of the good or service being provided, unless the prepayment is authorized by law.
1.2.1 The Agency, Office of the Chief Financial Officer (OCFO) shall:
a. Develop, maintain, issue, and interpret financial management policies for advances and prepayments.
b. Coordinate and monitor the processes and systems used to process, record, and report advances and prepayments.
c. Perform quality control reviews to confirm that controls are effective and processes are efficient. Additionally, ensure internal reviews are conducted.
d. Review and monitor the internal control data provided by NASA Centers and the NASA Shared Services Center (NSSC).
1.2.2 The Center, CFOs shall:
a. Ensure adequate internal controls are in place concerning authorization and approval of advances and prepayments.
b. Maintain complete financial records of advances and prepayments including all supporting documentation.
c. Complete the advances and prepayments internal control activities and reviews as required in the CMP Manual.
1.2.3 The NASA Shared Services Center (NSSC) shall:
a. Record advance and prepayment transactions in the period they are issued, accurately, and in accordance with applicable Federal regulations and NASA’s policies and procedures.
b. Ensure all documentation is readily available for review by procurement personnel, auditors, and NASA Headquarters or Center financial management personnel.
c. Ensure adequate internal controls are in place, which include employing controls that limit access to data that is electronically transmitted and establishing/maintaining appropriate separation of duties.
1.2.4 The NASA Agency Applications Office (AAO) shall:
a. Process all system requests relating to advances and prepayments in accordance with established system change procedures and timeframes.
b. Ensure the NASA core financial management system captures all transactions in the period they occur and that the system reports reliable, useful, complete, and consistent financial management information in accordance with OMB Circular A-127.
| TOC | Preface | Chapter1 | Chapter2 | AppendixA | AppendixB | ALL |
|| NODIS Library | Financial Management(9000s) | Search ||