Grow provides you with targeted financial and administrative support, enabling you to concentrate on your R&D technical project milestones.
Grow Government Contract & Grant Management
Government contractors must conform to unique accounting principles, regulations and standards---including cost allocation, allowability and “reasonableness.” When awarded a government R&D contract or grant, such as an SBIR Phase II, BAA, or other cost-type award, you must often have an approved accounting system prior to receipt of grant/contract funds. Do you know what allocable and allowable costs are and what is expected under the FAR and CAS, or how to bill the government for the work you’ve finished? What about negotiations with DCAA or other government/private auditors to obtain the most advantageous position for your company?
Let Grow’s federal contract and grant management team help you navigate the day-to-day administrative hurdles of managing your contract or grant. We understand how important it is for you to stay focused on your technical project milestones, and we can help take the burden off your team and your technical project management by driving your daily administrative and financial tasks forward.
Grow is set up to provide virtually all of the accounting, tax,
and contract/grant management support needed by early-stage,
high-tech companies utilizing the SBIR program or other federal
funding. To best utilize the variety and depth of support
services from Grow, we first discuss with you the capabilities
and preferences of your business team. We meet with and interview
your key project team members so we both determine the best
mix and level of services during your award, and address questions
such as these (and many more):
- Is this your first SBIR/STTR award or other federal funding award? How many others have you won, and with what agencies?
- Are you a subcontractor to a prime awardee? How much support have they promised to provide you for contract/grant management?
- What software program are you using to manage your books (if any)?
- Do you have an accountant in-house, or are you using outside contracting services? What is their availability?
- What is your accountant/bookkeeper’s familiarity with government contracting requirements, and with the specific requirements of the agency from which you won this award?
- How much of the contract/grant management do you want to handle on your own?
- Do you prefer a more proactive management style from Grow, or do you feel comfortable calling on us whenever you have questions or concerns?
- What is your budget for this award and your indirect rate? Is it a preliminary rate or do you have a negotiated rate with this agency?
- Do you think that you need more administrative contract/grant management, financial management, audit preparation support, or another type of targeted support and assistance?
- Who will be in charge of managing the technical and administrative components of the project? Are you using project management software?
Based on this comprehensive discussion of your business needs, we collaborate with you on a Responsibility Matrix, setting out what tasks and types of activities you and we will be responsible for. This clear communication will help to ensure a “gap-free” division of labor between your company’s work and our services. We will also recommend the tasks or activities we think are important for your level of experience (such as a monthly accounting review of your books for first-time awardees). After discussing the shared Responsibility Matrix, we can then provide you with an estimate of the time and cost for these targeted services. Grow can even include the cost of tax preparation in this estimate, depending on your needs.
Let Grow’s federal contract and grant management team help you navigate the day-to-day administrative hurdles of managing your contract or grant. We understand how important it is for you to stay focused on your technical project milestones, and we can help take the burden off your team and your technical project management by driving your daily administrative and financial tasks forward.
Financial Management
Grow’s strategic accounting is designed to make the most efficient use of your federal funding. Grow can also provide you with all of the requirements for your government-approved accounting system, including:
- A chart of accounts designed for your R&D business
- Policies and Procedures designed to comply with federal requirements
- A government-approved time-tracking system
- Budgets and financial project management, with support for indirect rates
- Annual reporting required by the Government
- Tax preparation and support for bringing your books up to date
- Support for DCAA audits or other agency audits
- Financial Status Reporting and Close-out reports support
Grow’s Financial Management System will allow you to plan and track expenses, manage direct costs and indirect rates, and budget proactively for the current award. This effective financial management of your award will provide a sound and justified financial foundation to enable you to request the adequate funding and indirect rates you need to run your business when you apply to future solicitations.
For more information on our Contract & Grant Management Services, please contact Grow at: