Inside Information from the GSA Ft. Worth Alliance Meeting
Based on the buzz from training sessions at the recent GSA Greater Southwest Acquisition Center (GSAC) alliance meeting, Law Enforcement (LAW), Temporary Services (TAPS), Scientific, Advertising (AIMS), and Building schedule holders could be in for some big changes in the near future. There was a lot of exciting information coming out of Ft. Worth that we will cover in-depth over the next few weeks…but for now, here are a few interesting tidbits to tide you over: Continue reading »
Adoption of International Accounting Standards Could Be Delayed
The new chair of the SEC, Mary Schapiro, expressed reservations about a timetable for adoption of international accounting standards by US companies. The currently proposed timetable would allow the largest US companies to begin reporting their 2009 results in International Financial Reporting Standards (IFRS), and then require large accelerated filers to begin using IFRS in 2014, followed by other accelerated filers in 2015 and smaller companies in 2016. Companies would have to provide financial statements from the previous three years in IFRS at those times, as well, for comparability. Schapiro said during her Senate confirmation hearings in January 2009 that she would not be bound by the SEC’s previously announced plans to have publicly traded US companies use rules set by the International Accounting Standards Board (IASB). Continue reading »
Ask Fed Point: Managing Printers in Deltek Costpoint Web
Dear Fed Point:
I’m having a lot of trouble managing the printers in Deltek Costpoint. I setup my printers, only to “lose” them repeatedly. What’s the solution for this printer confusion? – Jane M.
Dear Jane:
Although there are detailed instructions attached to the Costpoint Web Installation Guide, managing printers via the application can be labor intensive and often frustrating. Users have found that the Actuate Process Management Daemon can lose printer definitions, often confounding users as it appears as if the printer is there. Two options are available to solve this problem: Continue reading »
Introducing “Ask Fed Point!” – You Ask, We Answer
It’s hard to believe, but the one year anniversary of Aronson Fed Point is fast approaching! In the past year, we’ve blogged about the topical, and sometimes controversial, issues we think the Federal Contracting community wants to hear about – and judging by your response, you want even MORE! Based on this incredible input, we are excited to introduce a new feature to our blog, “Ask Fed Point”. Here is your chance to get the answers to all of your burning questions about GSA, Deltek, the FAR, tax regulations, and more…click here to submit your questions TODAY!
Top 100 First Time Winning Federal Contractors in FY 2009
For federal government FY 2009 starting October 1, 2008, federal contract award records show 4,990 companies winning business for the very first time. This number seems to be approximately at par for the same period last year, except that the current list contains mostly small businesses.
Last year some very big companies won well over several hundred million dollars as “First Timer Contractors”, however this year no such large business names appear on the list. Consequently, the amount of dollars awarded is also significantly less. The largest contract award for $62,539,000 went to Crossland Construction Co. from the Department of Veteran Affairs, Office Of Facilities Management. Continue reading »
GSA Announces “Stimulus Solutions Event”
Are you waiting to see how GSA will respond to the American Recovery and Reinvestment Act of 2009? Expect to get some answers at the just announced GSA “Stimulus Solutions Event“ - scheduled for March 5th in Washington, DC. This event is part of GSA’s communication and outreach plan for Federal agency customers. Its initial focus is to emphasize the availability of offerings through the Multiple Award Schedules (MAS) program, FAS Government-Wide Acquisition Contracts (GWACs), and e-tools available to support procurement actions.
GSA released preliminary information regarding its overall role in the Stimulus and how the GSA Schedule contracts will factor into upcoming acquisitions. As expected, GSA’s Public Building Service (PBS) will be heavily utilized to revitalize infrastructures and “green” federal buildings. PBS announced its intentions to contract this work through the GSA Schedules Program and is already soliciting GSA Schedule partners to enter into Blanket Purchase Agreements in four major functional areas: acquisition management services, legal support, project management, and energy services. PBS advises interested contractors to watch eBuy closely for RFQ opportunities and expect them to have short turnaround times.
As you would expect, lots of information on the Stimulus will continue to flow in the days and weeks ahead…be sure to keep checking FedPoint for the most up-to-the-minute information from Aronson & Company.
Get the Escalation You’re Entitled to – Dec 2008 Cost Index Data Released
Working on a multi-year cost proposal and wondering what escalation factor to use? Or thinking about requesting an increase to your GSA Schedule labor rates? Selecting an appropriate index is important when negotiating escalations and price increases with the Government. And, knowing which market indices Contracting Officers rely on is essential. Frequently, the Bureau of Labor Statistics Employment Cost Index (ECI), is a good basis for escalations.
The Employment Cost Index news release, issued by the U.S. Department of Labor Bureau of Labor Statistics, is a great index for a variety of industries. For instance, the ECI average for Management, Business, and Financial industry occupations is 3.0% for the 12 months ended 12/31/08, which is a slight decrease from 3.1% last quarter and 3.1% from last year. The ECI average for Professional, Scientific, and Technical services increased from 3.6% to 3.8% for the quarter ended 12/31/08, although it is a slight decrease from last year’s rate of 3.9%.
During this time of economic uncertainty do not let contracting officers keep your annual escalation artificially low; use the ECI to aid you in getting what you are entitled to. Keep in mind, not properly escalating your labor costs can affect your ability to provide competitive salaries and can hurt your bottom line for several years.
Negotiating escalation rates is just one of the ways Aronson & Company can increase your profitability. If this sounds good to you, contact Hope Lane today at 301-231-6266 or hlane@aronsoncompany.com to learn how we can help improve your bottom line.
Four M&A trends for 2009
An optimistic outlook for M&A activity for government contractors in 2009 was indicated in a recent report from Aronson Capital Partners (ACP), an investment bank serving federal contractors. Quoted by Washington Technology, the report, titled ” Federal Sector Market Update and Outlook”, mentioned four trends to watch:
- Persistent strong buyer interest
- Well positioned firms will continue to command attractive valuations
- Portfolio shaping will become a necessity
- Tax policy will continue to favor sellers
The complete report published by Aronson Capital Partners can be found at: http://www.aronsoncapitalpartners.com/emails/Feb09_ExecLetter_full.html
Having closed one transaction already in 2009, with five others already under letter of intent, Aronson Capital Partners offers clients unparalleled levels of experience and execution in this challenging environment. ACP offers clients a unique understanding of the business and its marketplace, strong relationships with strategic buyers aggressively pursuing acquisitions, and an unmatched track record of achieving superior results for shareholders. Contact Larry Davis, Managing Partner, 301.231.6225, ldavis@aronsoncapitalpartners.com for more information.
Re-Align the Federal Marketing 5Ps to the Economic Stimulus Package
President Obama signed the $787 billion recovery package into law this week. Now the 5P’s of government marketing — Price, Product, Positioning, Promotion and Proposals must align with this new stimulus package, as well as with many other government objectives in a market dynamic not seen before. Vendors trying to make it into the government customer’s selection pool need to quickly build their “bridges” directly to decision makers, in an effort to arm the customer with the right solution at the right time. So here are some key facts to consider when selling to the federal government in FY 2009:
- FED FACT#1
Successful companies will understand the pressure of condensed decision-making on government officials and innovate their sales approach to quickly target core agency missions. Success will come to companies most agile and resilient in their own business models allowing them to adapt quickly to new government business processes. - FED FACT #2 Continue reading »
Three Tax Issues of Importance to Government Contractors
DC Tax Penalties and Interest: Failure to pay District of Columbia franchise or income taxes on or before the due date of the return will result in a tax bill significantly higher than the taxes owed. Continue reading specifics of DC penalties and interest, and circumstances for abatement >>
Report of Foreign Bank and Financial Accounts: United States persons having an interest in or authority over any foreign bank accounts that meet or exceed aggregate of $10,000 at anytime during the calendar year must report that relationship each calendar year by filing TD F 90-22.1 with the Department of Treasury on or before June 30th of the succeeding year. This date can not be extended. Companies that possess foreign bank accounts that meet or exceed the $10,000 threshold at anytime during the calendar year will be required to file at least 2 form TD F 90-22.1′s for that year; one for the company and at least one for the person or persons with signature authority over the account. Continue reading more details on foreign reporting>>
Massachusetts Tax Amnesty: New Massachusetts law (signed into law on January 7, 2009) authorizes the state’s Commissioner of Revenue to establish a Tax Amnesty Program for two months (Tax Amnesty Period) in 2009 during which the state would waive all penalties (but not interest) on state tax liabilities for certain tax payers. The amnesty will expire no later than June 30, 2009. Click here for MA Amnesty tax payers eligibility details >>
For more information, contact Aronson tax experts:
Henry F. Chiwaya, Senior Tax Manager, (301) 222-8215, hchiwaya@aronsoncompany.com
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- A Marriage of Inconvenience: GSA Schedule Contracts & The Contractor Code of Business Ethics & Conduct Clause
- Emerging Small Businesses: To Grow Your Business, You Must Plan For Growth
- Government Contracting: Look Before You Leap!
- GSA Schedules – Strategies for Success
- New Employee vs. Independent Contractor Considerations
- Pay on Display – Understanding the Executive Compensation and Subcontractor Data Reporting Requirements & Ramifications
- The GSA Schedule: Your Ticket to the Federal Market (May 2010)
- The New FAR Codes of Conduct and Compliance Program Provisions
- The Seven Deadly Sins (of contract compliance)