National Science Foundation (NSF)
The National Science Foundation normally awards grants to various types of organizations. The cost principles applicable to the awardee vary depending upon the type of organization. For instance, commercial firms are normally held to the Federal Acquisition Regulations (FAR) for cost principles (FAR Part 31) and financial management systems that comply with OMB Circular A-110, Subpart C.21 (2 CFR §215.21).
The NSF SBIR/STTR program is usually governed by a special set of NSF regulations (Phase I and Phase II) found on the NSF website. The NSF also allows the applicant for Phase I awards to budget up to $10,000 to set-up a compliant accounting system. As an awardee, it is imperative that your set-up and maintain a compliant accounting system for your NSF Ph I award.
"Why do I need a Compliant Job Cost System for an NSF SBIR/STTR Phase I Award?"
With the submission of cost reports, and the final report, the government wants you to declare, under penalty of perjury, that the money spent was in accordance with the proposed budget. The only way to prove this is to have a job cost accounting system, and a properly maintained labor distribution & timekeeping system. You also need to ensure this system was properly maintained throughout the duration of the grant. ReliAscent's NSF Program provides you with that system, and ensures you can focus on your grant.
NSF SBIR/STTR Ph I Accounting Services & Products
ReliAscent offers 3 NSF SBIR/STTR Compliant Accounting System Packages for awardees. These packages are designed to work with QuickBooks Online, and allow the awardee to perform their own compliant accounting during the award, as well as to help you ensure compliance, price your Ph II proposal, and even pass the NSF CAP Review (formerly known as the CAAR Review).
NSF Silver Program™
- Set-up a compliant QuickBooks program (Desktop or Online version)
- Structure an NSF compatible Chart of Accounts
- Manual Timekeeping procedure
- Accounting Manual describing how to make entries that are compliant
- Monthly accounting checklist to ensure proper accounting process
- Provide full assistance to the awardee in the CAP review process to ensure passing the review
NSF Gold Program™
- Everything in the Silver Program™ plus:
- 1-hour Training session to the awardee on how to use the system
- Assistance to the awardee in generating pricing for the Phase II (including establishing indirect billing rates)
- Up to 4 hours of free consulting during the term of the Phase I award
NSF Platinum Program™
- Everything in the Gold Program™ plus:
- Additional 1-hour training session on the accounting system
- Quarterly review of the accounting system for compliance
- Additional 2 hours consulting during the term of the Phase I award