Innovative Costing Solutions, LLC (ICS) was formed in 2001 as a Women’s Owned Minority Firm to utilize the combined experience of the staff in providing assistance to various units of government and non-profit organizations.
ICS is registered on SAM and Pro-net as a Women’s Owned Minority Firm. It is also classified as a small business. The related DUNS number is 11-1428566. Over the years of working for the Federal government, a number of state agencies and specific grantee organizations, the staff have become very familiar with the processes and personnel involved in grants management. This includes an intimate knowledge of the OMB Circulars and individual Federal agency Grants Administration Manuals. In accomplishing this, significant insight related to all financial management and other issues relating to the grants management process was gained. ICS also has a close working relationship with the Office of Management and Budget, the Departments of Health and Human Services, Labor, Education, Agriculture, Justice and Housing and Urban Development.
Principle Staff
Jenny Harris Frasure CPA, Senior Partner, has 20 years of experience with generating cost allocation plans, indirect cost proposals, random moment time studys and in audit. She is considered to be extremely knowledgeable in the financial aspects of federal grants and contracts management.
Mary E. Wise, Senior Partner, has over 35 years of experience in financial management as it relates to the public sector and is considered very knowledgeable in the areas of Federal government-wide financial, cost and grant administration policy.
Edward M. (Ted) Tracy, Senior Partner, has over 45 years of experience with Federal cost and grant administration requirements, including 9 as the Director, Division of Cost Policy and Oversight which included the Division of Cost Allocation at the U.S. Department of Health and Human Services. While at DHHS, he was intimately involved with the writing/rewriting all of the Federal cost principles. He is considered to be a subject matter expert in the areas of the Federal grants administration and financial requirements.
Lloyd Smith, CPA, Senior Associate, has over 25 years experience in state government, the last of which he has served as the Director of Internal Audit and the Office of Accountability Systems at the Oklahoma State Department of Health. During this period he has also worked extensively as a consultant for the U. S. Public Health Service, Office of Population Affairs in reviewing grantee financial management and administrative systems and determining compliance with Federal financial requirements.