Federal contracts can prove lucrative for engineering and surveying firms, as well as construction contractors. Qualifying for these contracts requires a calculation of your overhead costs in accordance with Federal Acquisition Regulation (FAR) requirements. We are well-versed in Federal Acquisition Regulations (FAR) 30, 31 and 42, governmental auditing standards (Yellow Book), and American Association of State Highway and Transportation Officials (AASHTO) Guide. Our audits can result in our clients receiving DOT-approved overhead rates and cognizant letters.
FAR Audits are conducted on engineering consultants’ Statements of Direct Labor, Fringe Benefits, and General Overhead. These audits are to ensure compliance with Generally Accepted Accounting Principles (GAAP), 48 CFR Part 31 of the Federal Acquisition Regulation (FAR), and, to the extent applicable, the Cost Accounting Standards (CAS) of 48 CFR sub-part 9900. JS Morlu can help to review your overhead rate calculations in advance and ensure that the rates are in compliance with FAR. Our services include:
- Review of historical FAR overhead rates and disallowed expenses
- Modifications to maximize current and future FAR overhead rates
- Calculation of facilities cost of capital
- Preparation for a FAR audit
- Negotiate disputed issues
Consultant firms performing, or desiring to perform, services for a state DOT must submit a CONR 385 package at the time of designation and annually thereafter. The annual submission is due six months after the end of each firm’s fiscal year. We can also assist you with various state reports including CONR-385.
JS Morlu personnel have more than 15 years of proven experience with Davis-Bacon compliance and monitoring. We assist with certified payroll reviews, site monitoring, employee interviews, calculation of restitution, and with disseminating instructional information regarding Davis-Bacon compliance to Primes and Subs.