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Federal Funding Briefing, February 2024

February 28, 2024 / Ed Jameson / Blog Posts
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In this Federal Funding Briefing, we re-cap some of the news we shared in February, including changes to government audits and FAR rules, FCA news, and new opportunities for SBIR/STTR innovators.

 Updates to Government Auditing Standards and a proposed FAR Clause

The GAO kicked off February by issuing a revision to the Generally Accepted Government Auditing Standards (aka: the Yellow Book, aka Uniform Guidance Audits), which will supersede 2018’s revision. Here’s an overview of important updates and links to the new Yellow Book. Read article

Please note: SBIR/STTR awards are subject to DCAA, DFAS and Uniform Guidance audits.  Our website offers white papers, blogs, webinars, and videos resources on these audits.  You can access them here.

The proposed FAR clause prohibiting the use of compensation history in hiring and requiring Federal contractors and subcontractors to post salary ranges in job postings received a lot of coverage this month. Keep in mind, the last day to submit comments is April 1, 2024. Here’s a good overview on the subject from Pillsbury Law:  Read article

Federal Funding Means Compliance: 2023 FCA Settlements, Plus Whistleblower Receives $900,000

The U.S. Department of Justice reports the highest number of FCA settlements and in history for FY 2023—exceeding $2.68 billion. Read article

In a related story, a whistleblower whose qui tam lawsuit accused a DoD contractor with false overstatement of cost or pricing data has received a $900,000 reward. Like we always say, “Stay compliant.” Read article

Innovation for Innovators.

DOD SBIR/STTR will make a big appearance at SXSW 2024. Head to Capital Factory House, March 8-12 to for educational sessions, networking, reverse pitches and more. AFWERX, SpaceWERX, NavalX and Army Applications Lab will be in the House. If you want to join them, register here.

The NSF’s Directorate for Technology, Innovation, and Partnerships announced the first recipients of its Regional Innovation Engines program. And it’s a big deal. As Program Director Dmitri Perkins explained, “NSF is making history in that this is the largest investment to a single awardee over a 10-year period — over a decade this would be up to $1.6 billion for all ten awardees.” Read article

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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.