NIH just informed us that our first SBIR phase I proposal may get funded and asked for several JIT info related to bookkeeping and financial systems. We are a spin-off from an academic research lab and we don’t have any systems or physical operations in place yet.
Looking for resources/help to respond to JIT document requests
1. F&A Negotiated Rate Agreement
2. Evaluation of Financial Management Systems
3. Corporate Balance sheet, Income Statement, Profit-and-Loss Statement or Line of Credit Documentation
Here is some information that may be helpful based on what you have provided here.
1. F&A Negotiated Rate Agreement – Your company likely does not have a negotiated rate. This F&A Rate will be the rate proposed in your original submission.
2. Evaluation of Financial Management Systems – This is a questionnaire used by the NIH to determine if the company is financially viable to perform the award. It needs to disclose how the financial system will segregate costs, labor will be distributed and financial statements will be prepared.
3. Financial Statements – If you company has these, the NIH will review and determine if the company is qualified to perform the work from a financial standpoint. However, if you do not have financials, the Evaluation of Financial Management Systems will need to disclose how Financials will be prepared at least annually.
EGC offers JIT support with grant compliance services should you require additional assistance. Please let us know if we can assist you!