DoD awards $9.5M for Accounting Services to IBERIA ADVISORY LLC under full and open competition
Contract Overview
Contract Amount: $9,528,070 ($9.5M)
Contractor: Iberia Advisory LLC
Awarding Agency: Department of Defense
Start Date: 2025-03-16
End Date: 2026-07-28
Contract Duration: 499 days
Daily Burn Rate: $19.1K/day
Competition Type: FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES
Pricing Type: FIRM FIXED PRICE
Sector: Other
Official Description: LABOR
Place of Performance
Location: WASHINGTON NAVY YARD, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20374
Plain-Language Summary
Department of Defense obligated $9.5 million to IBERIA ADVISORY LLC for work described as: LABOR Key points: 1. Significant contract value for specialized accounting services. 2. Competition method indicates a potentially competitive market. 3. Risk appears moderate given the service type and contract duration. 4. Spending falls within the professional services sector.
Value Assessment
Rating: good
The contract value of $9.5M for accounting services appears reasonable for a multi-year engagement. Benchmarking against similar contracts for 'Other Accounting Services' (NAICS 541219) would provide a more precise assessment, but the duration and scope suggest a fair price.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded using full and open competition after exclusion of sources, suggesting a robust price discovery process. This method typically leads to competitive pricing as multiple vendors had the opportunity to bid.
Taxpayer Impact: The competitive award process is expected to yield value for taxpayers by ensuring fair market pricing for essential accounting services.
Public Impact
Ensures continued financial management and accounting support for the Department of the Navy. Supports critical operational functions through specialized advisory services. Potential for improved financial reporting and compliance.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Contract duration of 499 days may require monitoring for scope creep.
- Reliance on a single awardee for critical services.
Positive Signals
- Awarded under full and open competition.
- Firm Fixed Price contract type controls costs.
- Clear delivery and performance periods.
Sector Analysis
This contract falls under professional, scientific, and technical services, specifically accounting. Spending in this sector is driven by the need for specialized expertise to manage complex government finances and operations.
Small Business Impact
The data does not indicate if small businesses were involved in this specific award. Further analysis would be needed to determine the extent of small business participation in this procurement.
Oversight & Accountability
The use of full and open competition suggests a structured procurement process. Oversight will be crucial to ensure performance aligns with contract requirements and taxpayer value is maximized.
Related Government Programs
- Other Accounting Services
- Department of Defense Contracting
- Department of the Navy Programs
Risk Flags
- Contract duration
- Potential for scope creep
- Vendor performance monitoring needed
Tags
other-accounting-services, department-of-defense, dc, delivery-order, 1m-plus
Frequently Asked Questions
What is this federal contract paying for?
Department of Defense awarded $9.5 million to IBERIA ADVISORY LLC. LABOR
Who is the contractor on this award?
The obligated recipient is IBERIA ADVISORY LLC.
Which agency awarded this contract?
Awarding agency: Department of Defense (Department of the Navy).
What is the total obligated amount?
The obligated amount is $9.5 million.
What is the period of performance?
Start: 2025-03-16. End: 2026-07-28.
What specific accounting services are included in this $9.5M contract, and how do they align with the Navy's core mission requirements?
The contract is for 'Other Accounting Services' (NAICS 541219). While the specific details are not provided, these services typically encompass areas like financial statement preparation, auditing support, accounting system implementation, and financial advisory. For the Navy, these services are critical for maintaining accurate financial records, ensuring compliance with federal regulations, and supporting strategic decision-making related to resource allocation and operational efficiency.
What are the potential risks associated with a 499-day contract for accounting services, and how can they be mitigated?
A significant risk is the potential for scope creep, where the services requested expand beyond the original agreement, leading to cost overruns or delays. Another risk is vendor lock-in, making it difficult to switch providers if performance is unsatisfactory. Mitigation strategies include robust contract management, clear performance metrics, regular progress reviews, and defined change control processes to manage any modifications to the scope of work.
How does the firm fixed price contract type ensure cost-effectiveness and accountability for the Department of the Navy in this engagement?
A firm fixed price (FFP) contract establishes a ceiling price that the contractor must adhere to, regardless of their actual costs. This incentivizes the contractor to manage their expenses efficiently and complete the work within the agreed budget. For the Navy, FFP provides cost predictability and protects against unexpected cost increases, thereby enhancing accountability and ensuring taxpayer funds are used effectively.
Industry Classification
NAICS: Professional, Scientific, and Technical Services › Accounting, Tax Preparation, Bookkeeping, and Payroll Services › Other Accounting Services
Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › MANAGEMENT SUPPORT SERVICES
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES
Solicitation Procedures: TWO STEP
Solicitation ID: N0018923R0058
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Address: 14 RIDGE SQ NW STE 300 OFC 356, WASHINGTON, DC, 20016
Business Categories: Category Business, Limited Liability Corporation, Self-Certified Small Disadvantaged Business, Service Disabled Veteran Owned Business, Small Business, Special Designations, U.S.-Owned Business, Veteran Owned Business
Financial Breakdown
Contract Ceiling: $25,055,531
Exercised Options: $9,596,070
Current Obligation: $9,528,070
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES PROCEDURES NOT USED
Cost or Pricing Data: NO
Parent Contract
Parent Award PIID: N0018924DZ031
IDV Type: IDC
Timeline
Start Date: 2025-03-16
Current End Date: 2026-07-28
Potential End Date: 2027-07-15 00:00:00
Last Modified: 2025-12-11
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