Richards & Associates aims to position clients as responsible stewards of sponsor funding, withstanding federal scrutiny, attaining expeditious audit and negotiation consensus, and operating efficiently. Toward this end, Richards & Associates assists institutions by developing, enhancing, and implementing…
- Rate development proposals: preparation, training, and guidance for rate implementation
- Facilities and Administrative (Universities) Indirect Costs (Hospitals, Foundations, and Non-Profits)
- Fringe Benefits
- Recharge Center / Core Facilities
- Special Rates (Vessel/Ship, Telescopes, etc.)
- Internal allocation of costs among campuses, units, or divisions
- Negotiation support for the cost allocation plans and rate proposals submitted to DCA, ONR, other federal agencies and other sponsors
- Policies and procedures: evaluation including compliance with applicable regulations, development, enhancements, recommendations, and implementation
- Diagnostic assessments of the following representative areas:
- Effort certification
- Facilities and Administrative (formally Indirect cost) allowability review
- Direct cost allowability
- Charging practices, internal and external
- Compliance and risk assessment
- Cost Accounting Standards
- Cost transfer practices
- Cost sharing procedures
- Institution’s oversight of accountability, practices for monitoring/enforcing/correcting
- Conflict of interest
- Salary cap
- Financial reporting
- Cash management
- Invoicing frequency, documentation, and related practices
- Accounts receivable management
- Program income
- Training and public service costs and charge procedures
- Pre- and post-award administration of sponsored projects
Includes evaluation and development of those administrative units, assisting institutions in improving their efficiency and effectiveness. - Staff training in the above areas
- Interim Staffing of administration and management of the Research Enterprise
Although each institution is unique, in these difficult economic times all are working toward increasing funding from a variety of sources, and most are seeking federal awards. Federal dollars continue to become increasingly scarce. A clean record of compliant operations may enhance your organization’s competitive edge for award and certainly will positively affect post-award interactions with governmental oversight representatives. Institutions face growing sponsor attention to compliance and accountability practices. When recipients have demonstrated good practices for handling federal awards (tax dollars), the audit and negotiation processes often are more amicably executed. Richards & Associates takes pride in its expertise and ability to position your institution to be competitive, compliant, and efficient in its sponsored administration activities, particularly as they affect federal sponsorship and negotiations.
In addition to enhancing sponsored funding with direct costs, institutions are greatly benefited by recovering the facilities and administrative costs (formally indirect costs) supporting those direct costs. Recovery of this overhead from federal sponsors is dependent on the organization’s preparation and negotiation of fair and equitable facilities and administrative rate(s) that are most often reviewed and set by DHHS, ONR, DOL, ED, NSF, and other agency negotiators. Other non-federal sponsors may honor that rate, as well. Richards & Associates provides all the expertise necessary to help assure fair and equitable rate computations, fair and equitable rate negotiations, and therefore fair and equitable cost recovery.
Richards & Associates’ Principal has experience “on both sides of the table” and thus brings unique advantages to the institution. This unique experience was gained as a federal Senior Negotiator for DHHA/DCA and in research administration at several major institutions.