Accounting & Grant Compliance
EGC is a nationally recognized leader in providing grant accounting & compliance services to companies who have received Federal Grants and Contracts, through SBIR/STTR and other government programs. Our expertise includes establishing grant-compliant accounting systems and corporate policies; providing ongoing accounting support; fulfilling granting agency reporting requirements; advising on indirect rate negotiations; and supporting our clients through audits.
Set-Up for New Grant Awardees
Our comprehensive Set-Up for New Grant Awardees ensures that companies receiving their first Federal Award get off to a strong start in establishing the corporate infrastructure needed to properly manage their grant funding. This set-up phase includes developing a customized Accounting Policies & Procedures Manual, establishing a Project Cost Accounting System, and implementing a Timekeeping System to support the company’s grant compliance obligations.
Full-Service Accounting, Financial Reporting, and Compliance Support
Our clients are able to fully outsource their accounting & compliance needs to our expert team of Grant Accountants, so that they can focus on their science. Each client works directly with one of EGC’s highly experienced Senior Leads, who is supported by our Staff Accounting Team. EGC provides a turnkey approach to all of our clients’ accounting & compliance needs by maintaining our clients’ books according to grant accounting standards; providing monthly financial reports for client management approval; coordinating with our partnering payroll companies and tax accountants; and supporting our clients’ grant reporting requirements.
Grant funded companies may be audited at any time, and there are certain trigger points when audits are required (for example, receiving $750K or more in Federal Government funding during your company’s fiscal year). Our team specializes in audit support for multiple types of audits, including Program Specific Audits, Single Audits, and Financial Statement Audits. Our services include preparation of required financial documentation as well as full support in addressing auditors’ questions. Our Audit Support may also be combined with our Gap Analysis (see below) as part of the pre-audit preparation process.
Indirect Rate Negotiation
Maximizing your indirect rate will ensure that your awarded funds go as far as possible to support your technology development and commercialization efforts. Our team assists clients throughout the process of determining eligibility for a rate negotiation; preparing the rate negotiation package; and communicating with auditors from Granting Agencies. Our clients are typically awarded indirect rates that are far higher than the standard amounts granted by the agencies, which can provide them with hundreds of thousands of dollars (or more) in additional funding.
Gap Analysis Support
EGC provides gap analysis services to help our clients identify areas of non-compliance and to implement strategies that will bring the client into compliance with federal regulations. We have supported companies ranging from new startups to large, multi-national publicly traded companies, in maintaining compliance with the terms of their Federal Grant Awards.