Dd Form 1586 – Fill Out and Use This PDF

The DD Form 1586, also known as the Classification Contract Funds Status Report, serves as a crucial document for reporting the financial status of Department of Defense contracts. It provides a comprehensive overview of contract funding, including appropriations, expenditures, forecasts, and adjustments. Interested parties are encouraged to accurately complete the form to ensure the efficient monitoring and management of contract finances. Click the button below to begin filling out your form.

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Dd Form 1586 PDF Details

The DD Form 1586, known as the "Classification Contract Funds Status Report," plays a critical role in the financial management of defense contracts within the United States Department of Defense. This form requires detailed reporting on various aspects of contract management, including initial and adjusted contract prices, funding information across different categories, and expenditure details. Designed to provide transparency and ensure efficient use of government funds, the form demands an average of 8 hours per response, covering tasks from reviewing instructions to completing and reviewing the collected information. It stands as a testament to the rigorous oversight exercised over defense contracting, aimed at minimizing waste and optimizing resource allocation. Notably, the form also addresses the administrative aspect of compliance, mentioning that failure to comply with the information collection does not attract penalties if the form does not display a valid Office of Management and Budget (OMB) control number. This detail underscores the importance of adhering to proper administrative protocols while also highlighting potential areas for reducing the burden on respondents. The comprehensive nature of this form ensures that every dollar spent is accounted for, reflecting the Department of Defense's commitment to fiscal responsibility and efficient contract management.

Question	Answer
Form Name	Dd Form 1586
Form Length	1 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	15 sec
Other names	OMB, dd form 1586 fillable, WBS, dd form 1586

How to Edit Dd Form 1586 Online for Free

The Classification Contract Funds Status Report is a Department of Defense document used to track appropriations, expenditures, and forecasts across the life of a defense contract. Follow the steps below to complete it correctly and submit on time.

How to Complete the Contract Funds Status Report

Enter the contract number, program name, and applicable WBS element codes in the header section.
Record appropriation data for each funding category, including initial and adjusted contract prices.
Report actual expenditures to date alongside forecasted amounts for each future reporting period.
Document carryover balances from prior periods and any authorized funding adjustments.
Identify all respondents and confirm the data with the contracting officer before submission.
Submit the completed form to the program finance office according to the CDRL delivery schedule.

Who Uses DD Form 1586?

Defense contractors, program managers, and contracting officers use this form when it is required under the Contract Data Requirements List (CDRL) citing DI-MGMT-81468. It applies to DEFINITIZED contracts where close financial oversight is needed to prevent unauthorized commitments or funding gaps.

How Long Does It Take to Fill Out?

The Office of Management and Budget estimates an average of 8 hours per response. This accounts for reviewing instructions, gathering expenditure records from contract files, and completing all required data fields.

Frequently Asked Questions

What does CFSR stand for?

CFSR stands for Contract Funds Status Report, the common name for this form. It is also referenced by its data item designation DI-MGMT-81468 in the CDRL.

Is this form still active?

Yes. The form was last revised in August 1996 and remains an active requirement for applicable defense contracts across the Department of Defense.

What is a WBS in relation to this form?

WBS stands for Work Breakdown Structure. It organizes contract work into defined reporting elements, each with its own appropriation tracking, expenditure data, and forecasted costs.

Are there penalties for not completing the form?

The form notes that no penalty applies for failure to comply if the form does not display a valid OMB control number. Contractors should confirm the current OMB number with their contracting office before each submission.

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