September 17, 2007 — Kforce Government Solutions (KGS) has been awarded a contract to assist U.S. Coast Guard Inventory Control Points (ICP)
Kforce Government Solutions (KGS) has been awarded a contract to assist U.S. Coast Guard Inventory Control Points (ICP), including the Engineering and Logistics Center (ELC) in Baltimore, MD, and the Aircraft Repair and Supply Center (ARSC) in Elizabeth City, NC, with remediation of audit findings, valuation of assets, and associated financial reporting for Operating Materials and Supplies (OM&S), Property, Plant, and Equipment (PP&E), and Construction in Progress (CIP) assets. For this effort, KGS will assist ICPs with: completion of their current 80% valuation project to establish the baseline and update stock records; recommendations for possible restatement of prior period financial statements; and development and implementation of a plan to statistically support the USCG position on assets not covered in the 80% valuation. For assets without sufficient supporting documentation, KGS will provide desktop and field appraisal services to establish in-service dates and appropriate valuation. This contract effort is a companion to support KGS currently provides to the USCG Office of the Chief Financial Officer (OCFO) for remediation of audit weaknesses, findings, and recommendations in the area of Property, Plant, and Equipment (PP&E) and Construction in Progress (CIP).