Government Funded Businesses - SBIR Grant  and Contract Recipients

Compliance is not optional.  From the moment of the first award - grant or contract, your business must begin to evolve and put in place financial and managerial control systems.

Compliance is more than accounting, human resources, or operational.  It is all aspects and areas of the business.

If you are a first time recipient of a grant or contract, or have had a substantial increase in awards, or expect to receive more than $500,000 in awards this year, then you may need assistance in structuring your business to meet the business and financial requirements of your awards. 

Here are some of the topics F.O.C.U.S. Resources can provide assistance and training on:

• accounting and financial system compliance
  • working with QuickBooks to satisfy:
    • cost tracking
    • cost allocations
    • cost pooling
    • reporting
  • indirect cost calculations
  • allowable costs
  • direct/indirect cost determination
  • program and project reporting
  • other key processes and procedures
• management control system
  • timekeeping
  • recordkeeping
  • cash management
  • other key processes and procedures
• first-time prime contractor or grant recipient
  • sub-recipient monitoring
  • internal controls
  • procurement
  • other key processes and procedures
• agency and company specific contract/grant requirements

Here are some articles to illustrate some of the scope of the compliance and business issues your business must address:

ARTICLES

	The Award, Now What (size: 77.9 KB last modified: 11-23-2004 ) For many companies, getting the grant proposal accepted and winning the award is the "end game". The reality is that it is just the beginning of the process. Once a grant has been awarded, the grant recipient begins the process of negotiating rates and identifying the business requirements needed to support and satisfy the terms and conditions of the grant. While grants are "free" money – meaning they don’t normally have to be repaid, they do have technical and business performance and regulatory compliance requirements that must be met.
	Grant Compliance and Accounting - It's not Rocket Science! (size: 72.3 KB last modified: 02-14-2005 ) Some say that grant accounting and its related cost and tracking activities isn't "rocket science". Certainly it isn't rocket science’ it can, however, be intimidating, confusing, convoluted, and complex. With complexity increasing with every proposal, award, and completed project, the time it takes to stay clear, and in compliance can quickly become a concern if proper systems and processes aren't put in place.
	Grants and Contracts (size: 72.7 KB last modified: 02-14-2005 ) While reviewing the award documents for a client SBIR recently, I noticed the following language was included: “Failure to . . . may result in termination for default of this contract. Contractor may be liable to refund all monies paid during the performance of this contract, receive an unfavorable past performance evaluation, an administrative assessment, or other adverse action.”
	Grants - Don't Take the Process for Granted (size: 55.8 KB last modified: 11-23-2004 ) It is important to understand the implications of the grants on all aspects of the business, particularly accounting, project management, human resources, and intellectual property ownership.
	Grant Recipient Considerations (size: 75.0 KB last modified: 11-23-2004 ) For many companies, getting the grant proposal accepted and winning the award is the "end game". The reality is that it is just the beginning of the process. Once a grant has been awarded, the grant recipient begins the process of negotiating rates and identifying the business requirements needed to support and satisfy the terms and conditions of the grant. While grants are "free" money – meaning they don’t normally have to be repaid, they do have technical and business performance and regulatory compliance requirements that must be met.
	Grants Requirements (size: 114.2 KB last modified: 11-23-2004 ) For grant recipients, both first time and experienced, understanding the scope of requirements associated with awards can be time consuming, complex, and confusing. Many of the requirements associated with grants are embedded in the overall constitutional structure of the government and the legislative acts that created the specific agencies. Add to that the fact that agencies have the ability to impose additional restrictions and requirements on grant recipients through specific grant agreements and you have a multitude of requirements to identify and meet.
	Pennywise, IP (Intellectual Property) Foolish (size: 69.5 KB last modified: 11-23-2004 ) Often business individuals, whether working along or as the owner of a small business or start-up technology company, do not fully understand the impact contracts and other agreements they make will have on their ownership of intellectual property. A young and/or growing business is often cash constrained; they’d rather save money for the costs of the patent process than have attorneys review every agreement.