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Federal Funding Briefing, April 2024

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JAMESON-SELECTED NEWS, STORIES & INSIGHTS

In this Federal Funding Briefing, we re-cap some of the news we shared in April, including changes to the UGA, lack of progress on Section 174, new and important opportunities for SBIR/STTR grantees and contractors, a warning on assigning authorship credit to research papers, and more.

It’s Getting Easier—and Harder—To Do Business with the Federal Government

In an effort to improve federal financial assistance management, transparency and oversight, the OMB has released new UGA guidelines. These changes, which take effect October 1, 2024, will impact audit thresholds, clarify allowability of certain costs, and improve grant announcements and notices. Read this overview of the new guidelines or check out this deeper dive into specific sections.

A bi-partisan tax bill, which passed the House, includes reinstating the R&D tax credit at the 100% level.  It has not yet been brought to the floor in the Senate. Learn why, what it means to innovators, and what you can do. Read article.

Important Resources and Info for SBIR/STTR Grantees

FAR and SBIR-compliance is essential to your Phase I accounting—and getting a Phase II grant. Getting there can be both complicated and expensive.  Our new Phase I SBIR Accounting Survival Kit can help. Through it, you’ll learn how to properly set up QuickBooks Online, meet reporting requirements and confidently produce financial statements. Details here.

If you’re exploring government funding for your innovation, check out this deep dive into the SBIR/STTR programs, including eligibility and funding requirements.  Read article.

Location. Location. Location. If you want to surround yourself with innovative spaces and people, let this recap of WalletHub’s “2024 Most & Least Innovative States” guide your way. Read article.

Watch Your Words

If you’re publishing research, know that authorship attribution and funding support disclosure of funding support could be a red flag for government investigation and enforcement in the foreign influence area. Read article.

Register For The SBIR/STTR Spring Innovation Conference

The SBIR/STTR Spring Innovation Conference is June 17-19, 2024 in Washington D.C. Don’t miss the full day SBIR/STTR Innovator Workshop on Wednesday, June 19th. It’s a great opportunity to learn from experts about the SBIR/STTR program, SBIR/STTR accounting basics (featuring Ed Jameson), and Phase I and Phase II proposal development. Early bird registration ends April 26thRegister today.

For daily insights on  federal funding and government award accounting, follow us on X and LinkedIn.

 

Ed Jameson, CPA, Managing Partner

I’ve been in practice for over 40 years helping our small business clients procure, manage, and survive audits on more than $6 billion in federal government contract and grant funding. We’ve been featured presenters and panel moderators at Tech Connect’s National SBIR/STTR conferences since 2010, and I’ve presented at the DOD’s Mentor Protégé Summit and present regularly for several state and local organizations.

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