If you have Department of Education contracts, you need to review the revised regulations and assess the impact on your organization. You can access them here.
Although we haven't studied the revisions in detail, we do have a few observations.
- Much of the regulation deals with internal Departmental processes.
- There are no new cost principles that affect FAR Part 31.
- There are no significant contract administration requirements imposed on contractors.
- There are several new reporting requirements for improper business practices and personal conflicts of interest.