C-FACTS has experience working with federal government agencies and grantees to build better financial management systems, strengthen internal controls and develop cost allocation plans and indirect cost rates.
We helped the City of Detroit significantly improve their financial management systems and ability to track funds. During our review, we identified over 1,000 idle projects and over $25M in unspent funds CDBG that were not being properly tracked. This resulted in reprogramming of $20M in CDBG funds and positioned the City to meet the CDBG timeliness test.
We also helped the City revamp indirect cost rate methodologies resulting in a reduction in their rate to better mirror industry norms. Our firm conducted an Indirect Cost Rate training session for the local HUD field office in Detroit for all Michigan HUD grantees.