Consulting Solutions

BFS brings substantial expertise, creativity, innovation, and proven approaches to each engagement. We use a variety of knowledge and expertise to execute projects. BFS ensures optimal staffing by providing experienced and skilled staff and Subject matter Experts who work collaboratively with agencies to achieve their goals and objectives.

We Promise to "Close the Loop", leaving your staff with the knowledge, tools, and skills to keep moving forward.

Grant Solutions

Highlights of our Grants Solutions

  •        Subrecipient Monitoring
  •        Internal Audit
  •        Grantee Technical Assistance (Corrective Action support and audit recovery)
  •        Performance Audit

BFS has extensive experience reviewing financial systems and reporting to ensure compliance with federal funding requirements and state grant management requirements, Our work includes reviewing financial systems and reporting to assess risk, create special (grant) conditions and evaluate the quality of systems. Our work programs are regularily updated to include the most current federal compliance requirements for financial management, systems, reporting, and internal controls. 

BFS has developed end-to-end federal compliance audit and programs for state agencies including the creation of a statistical risk assessment process, development of systems specifications, implementation of compliance and reporting systems, creation of work programs and monitoring. BFS created work programs and reporting templates for drawdown (grant financial) audits, compliance with grant terms and conditions audits, compliance with statutory requirements and compliance with source funding (appropriation) requirements.

Compliance Solutions

Highlights of our Compliance Solutions

  •        Subrecipient Monitoring
  •         Internal Audit
  •        Pre-Audit Technical Assistance

BFS is a compliance leader with over 25 years of experience. We help agencies achieve compliance with federal, state, and local contracts, grants, performance requirements, reporting, laws, rules, regulations, and other applicable requirements.

BFS works with governmental agencies to document and improve procedures, implement internal controls, and ensure accurate reporting. We have supported government agency’s efforts to execute compliance, performance, and monitoring activities.

From grants and vendor audits to internal audits, BFS has the staff and experience to complete your annual audit plan. Special projects and hot topics popping up? BFS can help you keep your audit plan on track and still knock out ad hoc projects too! 

Advisory Solutions

Highlights of our Advisory Solutions

  •      Program Management
  •         Operational Support
  •         Staff Augmentation and Support
  •         Strategic Planning and Facilitation
  •         Business Process review and re-engineering
  •         Performance Optimization
  •         Data aggregation, analysis, and reporting

Our Business Advisory Solutions help clients better understand their business processes, identify best practices, find efficiencies and document them.
Our efforts include providing technical assistance, guidance on policies and procedures best practices, process re-engineering and solutions to pressing operational issues.

BFS works with clients to conduct public policy analysis, perform research, develop, cultivate and support partnerships and engage stakeholders to better understand business processes. Then we help them implement best-in-class solutions to achieve operational excellence and increase business intelligence to achieve strategic, performance and financial goals.

BFS’ unique mix of federal, state, and local government and for-profit work brings value and insight to every project. BFS has been recognized for our commitment to quality, excellence, and collaboration with clients.

Financial Management Solutions

Highlights of Our Financial Management Solutions

  •         System Implementation
  •         End of Year Support
  •         Cost Allocation Planning
  •         Operations support (account reconciliations, back log processing, etc.)
  •         Policy review, guidance, and documentation

BFS helps clients improve financial management and reporting to enhance compliance and transparency. Our work has spanned accounting standards issues, state and federal compliance, internal controls, identifying and implementing audit finding resolutions and documenting procedures.

BFS works with governmental agencies and nonprofits to resolve complex accounting issues and implement internal controls to ensure accurate reporting. Our efforts include reviewing allowable costs, period of performance, resolution and/or recovery of questioned costs, providing technical assistance on account and bank reconciliations, guidance on policies and procedures best practices and solutions to internal control issues. We have worked with federal and state agencies to develop training and guidelines concerning appropriate uses of funds for a variety of fund types – multi-year, appropriated, franchise, supply, Trust, P3, grants, MedCare, etc.

BFS’ technical accounting research includes account and banking reconciliations, research and interpretation of laws and precedence, researching and identifying original documents (as the original source to begin reconciliations), application of changes in laws or authoring legislation and the fiscal impact on clients and accounts, performing extensive analysis and reporting of results to Congress, other legislative bodies and stakeholders.

BFS provides a variety of other accounting services such as budgeting, systems conversions, cost allocations, and indirect cost rates. BFS also works with clients to develop and communicate defensible, results-oriented, performance-based budgets. 

Connect

Contact

Phone - 800-482-3620

Copyright ©  2021 Business and Financial Management Solutions, LLC