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STORAGE NAME: s1716s1z.HCS DATE: May 26, 1998**FINAL ACTION** **SEE FINAL ACTION STATUS SECTION**HOUSE OF REPRESENTATIVES COMMITTEE ON HEALTH CARE SERVICES FINAL BILL RESEARCH & ECONOMIC IMPACT STATEMENT
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Standard Form Revised 697 is a reporting form used by federal agencies to collect cost data from contractors for price analysis and negotiations.
Contractors and subcontractors that have federal contracts requiring compliance with cost principles are typically required to file Standard Form Revised 697.
To fill out Standard Form Revised 697, you need to provide accurate financial data related to the contract, including cost breakdowns, labor categories, and indirect costs as per the instructions provided with the form.
The purpose of Standard Form Revised 697 is to ensure transparency and accurate reporting of costs associated with government contracts, enabling fair pricing and oversight.
The information that must be reported includes direct labor costs, overhead rates, general and administrative expenses, and any other relevant financial data that provide an insight into the contractor's pricing structure.
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