Finance Manual and Indirect Policy Development Consultancy
Notice: CORE Group is seeking a consultant and/or firm to support CORE Group in (1) the update and revision of CORE Group’s finance manual; and (2) the development of an indirect cost strategy including recommendations and approaches to maximize full cost recovery. Each deliverable must be implemented within CORE Group’s current accounting software Great Plains.
Background: For over 20 years, CORE Group has worked towards a mission to end preventable maternal, newborn, and child deaths worldwide by improving and expanding community health practices for underserved populations through collaborative action and learning. CORE Group currently works closely with our over 90 members to achieve this mission. Our members are primarily US NGOs, academic institutions, and individuals committed to advancing community health.
Duration: It is anticipated the assignment should be completed within two to three weeks of contract signature.
Specific Tasks: The consultant and/or firm will focus on the following two key areas:
1. Finance Manual
• CORE’s current finance manual is in need of updating and revision to ensure that it is compliant with USAID and other federal government regulations including 2CFR200.
• Identification of gaps in existing manual for inclusion in updated finance manual.
• Approaches and recommendations for CORE to adopt best management principles to minimize audit risk
• Recommendations and guidance to streamline and create efficiencies by adopting best practices in the area of finance, accounting, human resources, and project management.
2. Indirect Cost Rate Evaluation: CORE Group currently does not have a NICRA with the US Government. As a result, CORE would like to develop an overall strategy related to the development of an indirect cost rate, shared services, or other method to maximize full cost recovery on our current suite of services for both USG and non-USG funding streams.
• Review existing direct allocation strategy to determine if there are best practices for CORE to adopt to maximize full cost recovery.
• Assess current practices related to ongoing awards.
• Identify approaches that will maximize full cost recovery and help draft policies and make recommendations that can be included in CORE Group’s finance manual and other internal management processes for both USG and non-USG funding streams.
• Assist with preparation of cost policy statement revisions.
• Recommend indirect rate strategy and steps needed to be taken internally to apply for a NICRA.
Deliverables: Each task report will be provided according to an agreed upon schedule. CORE will review the reports and provide feedback before beginning the next task.
Task 1: The consultant will provide a final draft of an updated and revised Finance Manual.
Task 2: The consultant will develop in collaboration with CORE Group an Indirect Cost Strategy with clear recommendations that can be adopted and incorporated into the finance manual to improve cost recovery.