Redstone Government Consulting Blog | Redstone Team (9)

In our line of work supporting government contractors, we get to see on a first-hand basis the level of our preparedness as a Nation to deal with the most complex challenges the world can throw at us.  We are reminded of similar challenges our Nation has faced over its relatively short existence and the ingenuity, speed, and compassion for our fellow Americans that was put into the response to those efforts.  In every instance, we have weathered the storm and come out on the other side stronger for it.  No disaster response will ever be perfect; if they were, we wouldn’t call them disasters, emergencies, or other terms denoting their unexpected and undefined nature.

Redstone GCI is currently monitoring the Families First Coronavirus Response Act bill passed by the House over the weekend, which will provide a number of economic, policy, and regulatory benefits in response to COVID-19. We are closely following the bill as it progresses through the regulatory process to be finalized.

The FAR Truth Episode 2: Kimberly Basden discusses the truth behind the requirements of an Incurred Cost Proposal.

The most common CAS (Cost Accounting Standards) exemption for most businesses is the small business exemption.  Most contractors understand that as long as they’re small, CAS is a non-issue.  What happens when you’re approaching your NAICS cap and headed toward the dreaded “other than small” status?

It is 2020 and Redstone GCI presents the first The FAR Truth of the new decade! Join us as Director Bob Eldridge discusses some of the most important planning concerns as we enter the new year, including DFARS business system reviews, Accounting System Reviews for small contractors, post-award TINA reviews, and DCAA’s meticulous attention to executive compensation.

Government consulting may sound like a dry line of work, but in this fun introduction, you meet the quirky team here at Redstone. Our consultants are not only experts in the field but have some funny and entertaining stories to share.

Section 880 of the National Defense Authorization Act (NDAA) included provisions restricting the use of the Lowest Price Technically Acceptable (LPTA) source selection criteria to only procurements where:

Per DFARS 252.204-7012, Contractors were to implement NIST SP 800-171 by 12/31/2017 “Safeguarding Cover Defense Information and Incident Reporting”. However, Contractors self-certification has not gone as well as the Department of Defense (DoD) had hoped.  They have even included it as part of 2019 Contractor Purchasing System Reviews (CPSR) for the Defense Contract Management Agency (DCMA) to evaluate Contractors monitoring of subcontractor’s self-certification.  In the meantime, DoD has shifted gears and is developing the Cybersecurity Maturity Model Certification (CMMC) to help strengthen the DoD supply chain's cybersecurity at all levels of the supply chain, from the prime Contractor on down to the lowest subcontractor. 

After over three years of waiting, on September 24^th, 2019 the Department of Labor released its long-awaited final overtime rule,  increasing the standard salary threshold for exempt status to $684 per week (up from the current $455 per week floor), or $35,568 per year on an annual basis. The new rule takes effect on January 1^st, 2020, providing the first overtime salary adjustment in more than 10 years.

All too often, contractors have a dilemma as to which changing dollar threshold should be inserted into company policy.  You may recall that there has been considerable debate around changing dollar thresholds around TINA, CAS, and even the executive comp ceiling from a few years back.  There is now a proposed rule before the FAR Council is seeking to eliminate this confusion.  This rule will also reduce the administrative workload in processing changing dollar thresholds throughout the FAR.