State Dept. Awards $3.8M for Financial Management Support to Integrated Finance and Accounting Solutions, LLC
Contract Overview
Contract Amount: $3,818,038 ($3.8M)
Contractor: Integrated Finance and Accounting Solutions, LLC.
Awarding Agency: Department of State
Start Date: 2023-08-01
End Date: 2026-07-31
Contract Duration: 1,095 days
Daily Burn Rate: $3.5K/day
Competition Type: FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES
Pricing Type: TIME AND MATERIALS
Sector: Other
Official Description: FINANCIAL MANAGEMENT SUPPORT SERVICES-GC PAY PROCESSING 5196
Place of Performance
Location: NORTH CHARLESTON, CHARLESTON County, SOUTH CAROLINA, 29405
Plain-Language Summary
Department of State obligated $3.8 million to INTEGRATED FINANCE AND ACCOUNTING SOLUTIONS, LLC. for work described as: FINANCIAL MANAGEMENT SUPPORT SERVICES-GC PAY PROCESSING 5196 Key points: 1. Contract awarded to Integrated Finance and Accounting Solutions, LLC for financial management support. 2. The contract has a total value of $3,818,038.27. 3. Competition was full and open after exclusion of sources. 4. The contract duration is 1095 days, ending July 31, 2026.
Value Assessment
Rating: good
The contract value of $3.8M over three years appears reasonable for specialized financial management support services. Benchmarking against similar government contracts for accounting services suggests this pricing is within expected ranges, though specific service details would refine this assessment.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded under full and open competition after exclusion of sources, indicating a competitive process. This method generally promotes price discovery and ensures fair market value is obtained for the government.
Taxpayer Impact: Taxpayers benefit from a competitive bidding process that aims to secure services at the best possible price.
Public Impact
Ensures continued financial management and payroll processing for the Department of State. Supports critical government operations through accounting services. The award contributes to the operational efficiency of the State Department.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Potential for cost overruns with Time and Materials contract type.
- Limited visibility into specific performance metrics without further detail.
Positive Signals
- Awarded through full and open competition.
- Supports essential government functions.
Sector Analysis
This contract falls under Other Accounting Services, a broad category within professional services. Government spending in this sector is consistent, supporting administrative and operational functions across various agencies. Benchmarks vary widely based on the complexity and scope of services.
Small Business Impact
The contract was not awarded to a small business. Further analysis would be needed to determine if small business participation was considered or subcontracted.
Oversight & Accountability
The Department of State is responsible for oversight of this contract. Standard procurement regulations and contract management practices should ensure accountability and performance.
Related Government Programs
- Other Accounting Services
- Department of State Contracting
- Department of State Programs
Risk Flags
- Time and Materials contract type can lead to cost overruns.
- Potential lack of small business participation.
- Scope of services not fully detailed.
- Performance metrics not explicitly stated.
Tags
other-accounting-services, department-of-state, sc, delivery-order, 1m-plus
Frequently Asked Questions
What is this federal contract paying for?
Department of State awarded $3.8 million to INTEGRATED FINANCE AND ACCOUNTING SOLUTIONS, LLC.. FINANCIAL MANAGEMENT SUPPORT SERVICES-GC PAY PROCESSING 5196
Who is the contractor on this award?
The obligated recipient is INTEGRATED FINANCE AND ACCOUNTING SOLUTIONS, LLC..
Which agency awarded this contract?
Awarding agency: Department of State (Department of State).
What is the total obligated amount?
The obligated amount is $3.8 million.
What is the period of performance?
Start: 2023-08-01. End: 2026-07-31.
What specific financial management and GC pay processing tasks are included in this contract?
The provided data does not detail the specific tasks covered under 'FINANCIAL MANAGEMENT SUPPORT SERVICES-GC PAY PROCESSING'. This would typically include functions like payroll processing, accounting, financial reporting, and potentially budget analysis. A thorough review of the contract statement of work (SOW) is necessary to understand the full scope and ensure it aligns with the agency's needs and the awarded price.
What are the key performance indicators (KPIs) for this contract to ensure effectiveness?
Key performance indicators are not specified in the provided data. For a contract of this nature, effective KPIs would likely include metrics such as payroll accuracy rates, on-time payment processing, compliance with financial regulations, and responsiveness to inquiries. The Department of State's contract management team would be responsible for establishing and monitoring these KPIs.
How does the 'exclusion of sources' in the competition clause impact potential cost savings?
The 'exclusion of sources' clause, while still allowing for 'full and open competition' among the remaining eligible sources, might limit the overall pool of potential bidders. If legitimate reasons for exclusion exist (e.g., specific security clearances, unique capabilities), it could reduce competitive pressure compared to a truly open bid. However, if the exclusion was minor or based on standard pre-qualification, the impact on cost savings might be minimal.
Industry Classification
NAICS: Professional, Scientific, and Technical Services › Accounting, Tax Preparation, Bookkeeping, and Payroll Services › Other Accounting Services
Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › MANAGEMENT SUPPORT SERVICES
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES
Solicitation Procedures: NEGOTIATED PROPOSAL/QUOTE
Solicitation ID: SAQMMA17R0193
Pricing Type: TIME AND MATERIALS (Y)
Evaluated Preference: NONE
Contractor Details
Address: 4500 POND WAY, STE. 270, WOODBRIDGE, VA, 22192
Business Categories: 8(a) Program Participant, Black American Owned Business, Category Business, Economically Disadvantaged Women Owned Small Business, Limited Liability Corporation, Minority Owned Business, Self-Certified Small Disadvantaged Business, Service Disabled Veteran Owned Business, Small Business, Special Designations, U.S.-Owned Business, Veteran Owned Business, Woman Owned Business, Women Owned Small Business
Financial Breakdown
Contract Ceiling: $4,397,364
Exercised Options: $4,386,173
Current Obligation: $3,818,038
Actual Outlays: $110,202
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES PROCEDURES NOT USED
Cost or Pricing Data: NO
Parent Contract
Parent Award PIID: 19AQMM22D0034
IDV Type: IDC
Timeline
Start Date: 2023-08-01
Current End Date: 2026-07-31
Potential End Date: 2026-07-31 00:00:00
Last Modified: 2026-01-23
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