Whether you’re the prime or a sub, learn the essentials of financial oversight for a smooth working relationship. Primes are responsible for the review and oversight of their subs, including accounting system compliance and evaluation of price and related factors.
Come learn what to look for in a healthy financial system.
- Prior system approval
- Use of a third party in surveying the system, developing budgets, or reviewing rates
- Time since last system survey or rate audit
- Effective rate management
Subcontractors need to know the proper way to develop rates. Primes need to understand how to evaluate rates, especially when comparing them among multiple subcontractors. Rates vary from industry-to-industry and contractor-to-contractor. Hence, you can’t determine whether a rate is high, low, or incorrect by merely comparing numbers.
We’ll discuss your options (including the pros and cons) for financial oversight, including:
- Use of internal resources
- Requesting agency survey of system or review of review
- Hiring a third party
Join us to learn best practices for ensuring financial stability and building solid relationships with your prime or sub.
- Govology Webinar
August 14, 2019
1:00 pm - 2:30 pm