Category: Government Contracting

PPP Loan Forgiveness and FAR “Credits” for Government Contractors

By: Paul H. Calabrese, Principal, Outsourced Accounting and Advisory Services/Government Contracting  As the COVID-19 pandemic comes to an end, many vendors, suppliers and service providers to the federal government have applied for forgiveness of their Paycheck Protection Program (PPP) loans. Working virtually meant that many professional service providers in particular did not need additional funding to keep their workforces intact,…

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GSA Announces Change in Contract Requirements under MAS Solicitations

On February 24, 2021, the US General Services Administration (GSA) issued a memorandum for all GSA contracting activities announcing the waiver of experience and annual financial statement requirements under the Multiple Award Schedule (MAS) solicitation due to the COVID-19 pandemic. Effective immediately, MAS solicitation provision SCP-FSS-001, Instructions Applicable to All Offerors, changes the corporate experience…

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FAR-based Government Contract Offsets for PPP Loans

By Paul H. Calabrese, Principal, Outsourced Accounting & Advisory Services If you are a government contractor with a FAR-based government contract and received a PPP loan, regardless of whether it is forgiven, FAR 31.201-5 – Credits may require you to take an offset against cost incurred under certain circumstances. Now is the time to consider…

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2021 New Year’s Resolution: CMMC Preparedness

The Office of the Under Secretary of Defense for Acquisition and Sustainment (OUSD A&S) introduced the Cybersecurity Maturity Model Certification (CMMC) in January 2020 as a unified cybersecurity standard for new Department of Defense (DoD) acquisitions. Combining NIST and other cybersecurity frameworks, CMMC is intended to measure cybersecurity maturity using a unified framework that includes…

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Getting Started with Enterprise Risk Management, A Guide for Nonprofits