Biz e-News February 2009 Edition

• A New PBC – Celebrating 20 years of service to our clients
• SBIR NEWS – SBIR Reauthorization update!
• Announcements – - Federal Contractors required to use E-Verify
• TIP of The Month – Solving the time tracking problem
• A Success Story Alpha TRAC Inc.
• Business Infrastructure PSI Inc.
• Account Executive Opening Jobs at PBC inc.
• Something Funny Winning the Lottery
• Solicitation Dates A few closing this month

A New Year, A New PBC inc.

Welcome and thank you for your support. PBC inc. recently had the privilege of celebrating our 20th year of business. After 20 years of providing comprehensive business services to small mostly high-tech companies many thought PBC was only a “specialized accounting firm.” We’re pleased to announce that we’re more than just accounting. Although it is true that we provide complete accounting services for many of our clients, we also provide: Proposal Support, HR management, Contracts & Grants Management, Financial Management, and Operational Planning & Coaching in strategic areas such as Funding, Marketing, IP and Exit Strategies.

We fully understand that successful technology commercialization is more than some Government funding and a compliant accounting system. Without the proper management, planning, business infrastructure, IP strategy, marketing strategy and exit strategy (and more), a person can invest years of time and effort only to wind down the business with no realizable value except years of salary (this is sometimes delayed because of temporary cash flow issues). PBC has the experience and capability to successfully address these commercialization issues in your company – And yes, we are also very good at doing your Government Compliant Accounting.

From Top to Bottom Left Side: Karen Farmer, Laurie Wilson, Yolanda Farmer

From Top to Bottom Right Side: Shalini Shah, Cliff Bast, Kyle Gilbert, Russ Farmer, Dan Schuh

SBIR Reauthorization News

As many of you are aware, the SBIR program which was due to expire September 30, 2008 was extended by congress to March 20, 2009. With the new congress just now being seated and the economic situation being what it is, the general feeling from “those in the know” is that the SBIR program will again be extended, probably through the end of the Government’s fiscal year (September 30, 2009). There is no certainty to this however.

In the mean time, there are many new and seasoned congresspersons that have no knowledge of the SBIR program. They also have not been briefed on all the good it has done and can continue to do for our economy and our country’s science and technology position within the world.

We urge each of you to contact your local senators and representatives and invite them to visit your operations. You can then brief them on the SBIR program (and the pending reauthorization) and talk to them about the value the SBIR program has provided to their district in the way of new job creation. Briefing information can be obtained from the Small Business Technology Coalition (SBTC --- www.sbtc.org ) which is the SBIR communities’ consolidated voice in Washington DC.

Whether we like it or not we have to fight to keep this valuable program alive because there are special interests that want it to die! We also urge you to join SBTC, where one large voice in Washington DC is essential as well as, lots of small but loud and vocal voices throughout our great country. (For full and open disclosure – PBC’s president, Russ Farmer is on the board of directors of the SBTC)

Announcements:
Federal Contractors required to use the E-Verify System beginning February 20, 2009 (unless they change it again!!) http://www.dhs.gov/xprevprot/programs/gc_1185221678150.shtm#1

On November 13, 2008, The Federal Government issued its final rule requiring most Federal Contractors (and many subcontractors) to use the E-Verify System when hiring new employees. The E-Verify system, operated by U.S. Citizenship and Immigration Services in partnership with the Social Security Administration, is an electronic employment eligibility verification system. This system is a free internet-based system allowing enrolled employers confirmation of legal status of new hires immediately. The Department of Homeland Security has designated the E-Verify system the employment eligibility verification system to be used by all Federal Contractors as required by Executive Order 12989.

This executive order applies to:

1. Almost all prime contracts with a period of performance longer than 120 days and a value above $100,000

2. Subcontracts for services or construction worth more than $3,000 from a Prime contract that includes the E-Verify clause, “that the contractor uses the E-Verify System to (a) workers hired during the contract term and (b) workers working on the federal contact”.

   1. This revised requirement, (a & b above) includes current employees, as well as, new hires working on Federal contracts or sub-contracts.

3. Contracts awarded after January 1, 2009 and on existing contracts if the period of performance extends at least 6 months after February 20, 2009.

Contractors must enroll in E-Verify within 90 days of being awarded a federal contract, and continue use of the system for the duration of the contract. All new employees must be screened through E-Verify when hired and all existing employees must be screened within 30 days of award of a federal contract.

Figures released by the Department of Homeland Security state that 99.5 percent of qualified employees are cleared automatically by the E-Verify system. Agencies responsible for Federal Acquisition Regulations (FAR) are aware of and involved in this process.

It is recommended that every contractor with the Federal government make sure their I-9 documentation is in order and policies and procedures are up to date.

Tip of the Month

PBC has finally cracked the code on time keeping and reporting systems for our accounting clients. Time Me Up™ is the web based time sheet solution accessible through our secure website that directly imports to our QuickBooks files. It is extremely easy to use while the available expense reporting module provides clients with e-filing of employee expense reports including pdf attachments of receipts.

This is an exclusive offering to our accounting clients and can take the hassle away from the time sheet collecting, lost time sheets and more. It’s affordable, easy to use, compliant, secure, and most importantly, it helps keep your business focused towards success. Some features include:

• Provides PTO/Vacation accrual information as well as an extensive reporting functions that allow the users to portray information in a variety of ways. 

• Priced for small business.

• Helps project managers keep the pulse of their projects as it provides up-to-date information on time charged 

• Imports directly into QuickBooks

• Built in approval system for time sheets, time off requests, and expense reports

• Email notifications remind employees to turn in their timesheets

If you are a current accounting client of PBC or would like to become one please call Cliff at 303-427-1312 x209 for more information on Time Me Up™.

A Success Story

AlphaTRAC, Inc. (www.alphatrac.com ) is a Westminster, Colorado based company that provides comprehensive services and solutions to clients who prepare for and respond to emergencies. Using proprietary tools and systems, AlphaTRAC’s solution offerings facilitate preparation, training and rapid response to emergency and crisis management challenges.

AlphaTRAC was founded in 1992 and PBC became involved in there operation shortly thereafter, meeting in the basement of one of the two founders. PBC’s initial support was periodic consultation meetings, but as the company grew we started providing accounting, HR administration, contract management and financial management. AlphaTRAC has now grown to the point where they have their own in house accounting, HR and contract management. Today, A PBC member continues to function as their CFO and as an active member of their senior management team providing financial and strategic planning, IP strategy and corporate mentoring as they prepare to expand into new technology areas and new markets.

PSI, a glimpse of a successful infrastructure.

predsci.com/

Over the past few months PBC has been working with a client to set up a new business. A group of scientists left a large prime government contractor to start their own company, Predictive Science, Inc. (PSI). PSI’s primary expertise is in computational physics, with a specialization in solar and space physics research. Located in San Diego, California PSI’s research is supported by NASA, NSF (National Science Foundation), and AFOSR (Air Force Office of Scientific Research).

PSI was referred to PBC by another client of ours located in Southern California. The initial contact went something like this … what needs to be done to create a business, when we (scientists) have never done this before and we do not even have a name for our company yet. PBC jumped right in and got to work providing counsel and creating a punch list of action items to get the ball rolling. These items included:

• Determining the appropriate business structure – LLC, S-Corp, C-Corp

• Developing Articles of Incorporation

• Obtaining the necessary identification numbers – EIN, TIN, DUNS, etc.

• Registering with the proper agencies – IRS, California Secretary of State and Employment Department, Central Contracting

• Setting up an accounting system that meets government requirements

• Researching insurance (medical, dental, liability, workers compensation) options and retirement plans

• Developing indirect rates

• Preparing contract and proposal budgets

• Negotiating contracts

• Providing finance and accounting services

PBC took the lead on getting these things done. We drafted articles of incorporation, obtained the identification numbers, completed the necessary registrations, set up the accounting, provided insurance options from which PSI could choose from, and interfaced directly with the contracting entities. Basically PBC serves as PSI’s accountants, controller, HR department, and contracts administrator. PBC is responsible for the business infrastructure and PSI for the scientific research. As a team we are committed to building and sustaining a research company engaged in cutting edge science.

Account Executive Needs:

PBC currently has an opening for an Account Executive to coach and mentor small businesses. This member of our senior management team would provide crucial services to our growing clients such as: Strategic Planning, Market Strategy, IP strategy, high level P&L reviews, and financial packet reviews.

This position requires 7-15 years of heavy Government Contracting, as well as, experience in the accounting, finance and contracts management areas. Candidates must be knowledgeable in the SBIR program and other Government R&D funding. PBC offers excellent growth and equity opportunities for right person.

PBC provides long-term growth opportunities within our organization through training programs, which continually challenge members of our firm to grow professionally and take on greater responsibility with clients. We offer a competitive salary, flexible work schedules, and a comprehensive benefit package.

E-mail or FAX resume and salary requirements to: kfarmer@pbcinc.com FAX: 303-427-0422. For more information go to: www.pbcinc.com

Something Funny:

Why don't you ever see the headline 'Psychic Wins Lottery'?

January Solicitation Dates: Compliments of zyn.com, home of the EZ Solicitation Search

Questions or Suggestions about this e-zine? Contact Karen @303-427-1312 x207