⚡Updates to RUS Electric Borrowers' Accounting Requirements
The Rural Utilities Service (RUS or the Agency), an agency of the Rural Development (RD) mission area within the U.S. Department of Agriculture (USDA), is issuing a final rule with comment to update the accounting requirements for RUS Electric Program borrowers. These changes include adding new accounts to the Uniform System of Accounts (USoA), deleting obsolete accounts and clarifying instructions and definitions for the new and some existing accounts. In addition, new accounts and general instructions are being added for partially extinguished or forgiven debt.
Learn More⚓Rescinding Maritime Regulations
MARAD is deleting 46 CFR parts 317, 324, 325, 326, 328, 329, 330, 332, 335, 336, 337, 338, and 339, which pertain to terms under agreements with agents. While MARAD is retaining its 46 CFR part 315 regulation addressing agency agreements and the appointment of agents, other regulations that simply provide static procedures to serve as terms of agreement are obsolete and are being rescinded because they are covered by clauses contained in the Federal Acquisition Regulation (FAR). In the more than 30 years since MARAD last updated its regulations, the development of its service agreements has benefited from the uniformity and transparency provided by FAR clauses, and MARAD has increased reliance on them.
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