Finance & Accounting

Your Finance and Accounting Experts

Obligations and expenditures must be recorded correctly in accounting and entitlement systems to deter common pitfalls such as budget overruns, improper payments, and inefficient contract closeouts. To prevent these and other finance and accounting issues, St. Michael’s will assist your organization in the following areas:

PPBE
Financial Systems Requirements & Testing
Triannual Reviews & ULO
Policy & Procedure Development

PPBE

  • Provide technical advice and guidance on matters related to Planning, Programming, Budgeting, and Execution (PPBE) initiatives and recommend improvements to reduce overall costs
  • Examine, analyze, and interpret accounting data, records, and reports
  • Plan, implement, and coordinate budget formulation and execution tasks
  • Resolve problem disbursements and provide reconciliation support for unmatched disbursements (UMDs), open document listings, contract closeout and negative unliquidated obligations (NULOs)
  • Evaluate programs to determine the need for programming adjustments and validating requirements

Financial Systems Requirements & Testing

  • Gather requirements, document processes, and design solutions
  • Document test plans, test suitability of solution, and validate functionality
  • Create test results documentation, test reports, and recommendations
  • Provide User Acceptance Training (UAT) and over-the-shoulder training support
  • Conduct Independent Verification and Validation (IV&V) reviews

Triannual Reviews & ULO

  • Assist with triannual reviews to document available appropriations prior to expiration
  • Verify open recorded obligations/unliquidated obligations (ULO)
  • Liaise between key stakeholders such as Program Managers, Contracting Officers, funds holders, and accounting officers
  • Apply an audit readiness perspective to open obligations in relation to financial reporting
  • Assess triannual reviews for completeness and verify internal controls are present throughout the review process

Policy & Procedure Development

  • Review current finance and accounting policy and procedural documentation
  • Compare existing documentation to Federal standards, OMB guidance, and agency regulations such as the Financial Management Regulation (FMR)
  • Identify gaps and areas of improvement to senior management
  • Coordinate communications between all impacted organizations
  • Author draft versions of policy and procedural documentation for governmental review, sign-off, and implementation

Finance & Accounting Success Story

St. Michael’s assisted DoD with reducing the amount of prompt payment act interest penalties by carefully managing and reconciling unpayable invoices. We used a proven methodology based on finding the most efficient way to determine a corrective course of action (COA). St. Michael’s completed limited-scope, full-scope, unmatched disbursement (UMD), and high-priority (J-Code) contract reconciliation requests, all while maintaining an average of > 99.9% accuracy rate.

As a service-disabled veteran-owned small business (SDVOSB), we help government agencies achieve socio-economic contracting goals.