Page 40 - VYSNOVA PROGRAM MANAGEMENT GUIDE 2020

Accounting

l) Review travel authorizations and expense reports for all staff and subcontractors to
ensure they are compliant with the Federal Travel Regulations
m) Maintain regular communication with the Controller and PM to ensure they are well
informed of the financial status of the project.
n) Ensure adequate level of funding in the local bank account by preparing and providing
monthly cash flow.
o) Pulling the Project status report from Costpoint each month and ensuring the accuracy of
the report to be presented to the PM, COO and Controller. In addition to explaining the
information on the PSR to the PM to presented in the monthly Project meeting.
p) Attends F&A Meeting for upcoming changes and provides feedback on the Project to keep
the Controller and Accounting aware of special request or issues.
q) Remaining informed of indirect rates and updating budgets according to rate adjustments
r) Liaise with the Accounting Team on behalf of the project team and advise the PM or other
project staff on Vysnova Accounting and Financial policies

In the subsequent text, if an F&A is listed as the responsible party for some action but there is no
F&A on the project, that responsibility will be assumed by the PA or the PM when a PA is not
assigned.

Cost and Spend Planning
Within 2 weeks of contract award, the F&A and PM must establish a budget and spend plan using
information provided by subcontractors and consultants as well as the Cost proposal and contract.
Templates are available for CPFF and FFP budgets/spend plans in Vysnova Standard PgM Docs
ShareSync folder (see Annex E). The budget will be developed using the current provisional rates
and will allow for rate adjustments throughout the project years. As rates change the budget will
adjust and reflect profit/loss with the current obligated cost and expenditures. All budget files
should contain direct staff with estimated hours but allow for Holidays, Paid Time Off (PTO), and
vacation use during the project life. Once the budget and spend plans are complete, the F&A will
schedule a meeting with PM, COO, and the Controller to review and approve budgets and spend
plans. Throughout the life of the project, it is the F&A and PM’s responsibility to ensure the project
is profitable and has the established profit as designated by the project or COO.

The F&A is responsible for monitoring the spending of a project. Once the incurred costs of the
project reach 75% of the funding, the F&A must notify the CA to request a formal notification to
be sent to the client.

Accounting System
Vysnova maintains a centralized accounting system for all its domestic and international
operations using a commercial accounting and contract management software application from
Deltek® called CostPoint®. The system is updated daily with transactions received via Timesheets,
vendor/Subcontractor/Consultant invoices, and payments received. The F&A has access to
CostPoint for project management and will received training from the Accounting Department on
how to run reports and request corrections.

Timesheets
All employees will be given access to the Timekeeping module of CostPoint, called Deltek Time &
Expense (Deltek T&E), to fill out their timesheets. They will be given access upon being hired by
Copyright 2020 Vysnova Partners Inc. All rights reserved.

36