Capitalization
Contract: National Airspace System Integration Support (NISC), Financial Analysis & Support Services (FASS), Financial Analysis & Support Services II (FASS II), Capital Investment Analysis Support (CIAS)
In September 2006 the Federal Aviation Administration failed their annual financial audit. Ascent Consulting Company established processes to coordinate the cleanup of $4.7 billion of outstanding assets on the Construction in Progress (CIP). The team developed the “Unit Cost” methodology and supporting documentation to accomplish the reviews of hundreds of projects. Ascent Consulting conducted a multitude of Program Office reviews, met with the auditors to explain methodology, and provided extensive contract and program documentation to answer auditor questions. Within nine months, the team successfully categorized $4.2 billion of the $4.7 billion in assets. The Capitalization team met every deadline issued by the Secretary of Transportation Office of Inspector General. Since that initial cleanup, our team has continued working alongside the customer, providing ongoing support with capitalization of assets; FAA has not failed an audit since.
Budget Formulation
Contract: Financial Analysis & Support Services II (FASS II), Capital Investment Analysis Support (CIAS)
The Federal Aviation Administration’s budget formulation is process for assessing existing programs, new requirements, and other adjustments and how they can be accommodated within the Office of Management & Budget (OMB) Guidance. The process ensures that FAA’s capital resources are allocated to acquire and support projects within Agency priorities. Ascent Consulting Company supports the formulation team with management of the cycle while continuing to build on and improve the processes annually. Our team supports the customer by coordinating, facilitating, tracking, analyzing, and managing the budget formulation process annually, and for the last eleven budget cycles. All the budget formulation curriculum and training classes currently used by the entire F&E budget community have been designed with the support of Ascent Consulting Company. Our team offers budget formulation expertise, this is required as improvements are continually identified within the process and enacted for future years.
Labor Distribution
Contract: Financial Investment Services (FIS)
The Federal Aviation Administration(FAA) was directed to implement a Cost Accounting System to help achieve financial and operational performance goals. Personnel costs are a substantial part of the FAA cost structure and must be accurately captured. The Labor Distribution Reporting(LDR) process involves collecting data on the time employees work on projects and activities, determining the cost of the time, and providing reports on the time and cost against projects and activities. As subject matter experts on data and financial analysis, Ascent Consulting Company is able to provide this information that will allow the FAA to better understand staff resources and funds required to achieve agency goals and objectives.
Budget Analysis & Reporting
Contract: Financial Analysis & Support Services II (FASS II), Financial Investment Services (FIS), Budget and Information Technology Support Services (BITS)
The Federal Aviation Administration’s (FAA) Operating Budget Division is responsible for business and financial management oversight of a federal appropriation, which exceeds $9 billion annually. Ascent Consulting has been providing ongoing support to the Operating Budget Division in the areas of Financial Analysis, Financial Management and Reporting, Program and Technical Management, and Budget Planning. Specifically, our team supports the customer with development of internal financial plans, and business plans necessary to manage FAA’s operating and capital programs.