Edward (Ted) Tracy
Senior Partner
Innovative Costing Solutions
1400 Village Square Blvd.
Suite 3-132
Tallahassee, FL 32312
Tel 405-417-0422
Fax 850-745-2003
tedtracy@innovativecostingsolutions.com
Education, Licenses & Certifications
- MBA, Boston College
- BS, Bryant College
Function and Specialization
Ted has extensive experience in the field of financial management as it relates to the public sector, and is considered an expert in the areas of Federal government-wide financial, cost and administrative policy and in the review, analysis and negotiation of cost allocation plans and indirect cost proposals.
Background
Ted has over 49 years of extensive experience in the field of financial management as it relates to the public sector and is considered an expert in the areas of Federal government-wide financial, cost and administrative policy and in the review, analysis and negotiation of cost allocation plans and indirect cost proposals.
His federal experience includes over 27 years of experience with the Federal Department of Health and Human Services (DHHS) where served as the Director, Division of Cost Policy and Oversight within the Office of the Assistant Secretary for Management and Budget. In this capacity he was responsible for authoring all cost policy, including A-87 and 2 VFR 225, and for the oversight of the Regional Divisions of Cost Allocation.
Over the past 20 years since retirement from the Federal Government, he has generated numerous IDCRP/Cost Allocation Plans, Public Assistance Cost Allocation Plans, time studies (including Random Moment Time Studies); developed numerous retroactive claims where an agency had not claimed all of the allowable costs associated with various programs; and provided numerous training courses on the requirements of OMB Circular A-87 and Circular A-102 (Common Rule). He has also been called upon to provide expert testimony for both the Federal Government and various state or local units of government at various appellate levels where specific costing methodologies and/or costs have been called into question.
Professional and Industry Experience
Ted was one of the three original principals that formed Innovative Costing Solutions LLC, which was formed to utilize the combined experience of the Principals to provide assistance to state and local governments related to the requirements associated with Federal and States grants and contracts. This includes the specialized areas of the Federal cost principles and administrative requirements, including the generation and/or evaluation of cost allocation plans, indirect cost rates, special cost studies and other cost analysis and the development of user fee rates.
Currently, Ted serves as the President of ICS responsible for ensuring that all projects are completed on time and on an acceptable basis. This includes providing on-site expertise, support and direction for the involved staff, reviewing all final products to ensure conformance with the applicable federal requirements and providing all negotiation support with the various cognizant federal agencies.