On July 2, 2025, the CAS Board issued a notice of agenda identifying discussion topics from the CAS Board’s June meeting and for upcoming meetings scheduled for July, August, and September. Agenda topics for the four meetings include the following:

• Statutory CAS thresholds: Decouple the CAS applicability monetary threshold from the Truth in Negotiations Act applicability threshold, increase the basic threshold for CAS applicability, and eliminate the trigger contract requirement.
• Regulatory CAS thresholds: Evaluate options for increasing the $50 million threshold for full CAS coverage and the $50 million threshold for disclosure requirements (i.e., Disclosure Statement submission).
• Conformance of CAS to Generally Accepted Accounting Principles (GAAP): Review and resume deliberations regarding CAS 404, 408, 409, and 411 and open cases addressing CAS 407, 415, and 416. The CAS Board also stated that it will discuss issuing a final rule addressing GAAP changes to operating revenue and lease accounting. In a broader context, the CAS Board indicated that it will be accelerating efforts to conform CAS to GAAP in accordance with the Trump Administration’s prioritization of deregulation. See subsequent sections of this newsletter addressing CAS Board activity related to these initiatives.
• Cost impact of accounting changes: Discuss the treatment of cost impacts within FAR Part 30 as the FAR Council looks to streamline it in connection with the Revolutionary FAR Overhaul.
• Application of CAS to Indefinite Delivery Vehicle (IDV) contracts: Review options for clarifying CAS applicability to IDV contracts. The CAS Board intends to release a proposed rulemaking, which will include consideration of public comments.

The CAS Board meeting agenda can be found here.