Progress Payment Model Validation Instructions

1
Progress Payment Model Validation Instructions
The progress payment model is designed similarly
to the progress payment request to facilitate
ease of transferring selected data fields from
the contractors progress payment request. The
model is capable of instantaneously performing 30
to 200 calculations to validate the contractors
request. In addition, it provides a summary of
contract performance and payment related
information for review by the ACO to include
payment disbursement register, payment interval
validation (30 days apart), last accounting
approval date, performance completed,
performance period past, progress payments
paid, delinquency status, loss ratio
calculations adjustments, liquidation target
amount and fair value test.
Click Here
Created by Samuel S. Davis
2
Section I
Progress Payment Model Validation Instructions
Name Title of the Reviewer
Date validation performed
Name of model should remain unchanged
Click Here
Customary Uniform Cost Based Progress Payment
1. Progress Payment Rates for DoD
Contracts a. Large Businesses
Contracts 75 b. Small Businesses
90 c. Small Disadvantage
Businesses 95 2. Foreign Military
Sales (same as above) (DFARS 252.232-7004).
Date from progress payment request being reviewed.
Enter the date in block 8b of the previous
progress payment.
3
Section II
Progress Payment Model Validation Instructions
Block 18 amount is generated by the Progress
Payment Disbursement Register.
Amounts in black are input from contractors
Progress Payment Request (blks 9,10, 12ab,14ab)
Amounts in red are automatically generated from
embedded formulas in the protected cells.
Click Here
Loss Ratio Calculations will be generated at the
bottom if blocks 12a plus 12b is greater that the
contract amount in block 5. Block 11 will be
automatically adjusted and the payment amount
will recalculate with this adjustment.
4
Progress Payment Model Validation Instructions
This register show 11 previously paid progress
payments with the total at the bottom. Progress
Payment 12 is being reviewed.
Click Here
Amounts above in red are automatically generated
from embedded formulas in the protected cells.
Amounts above in black are input from
contractors Progress Payment Request (blks
9,10, 12ab,14ab).
The total is automatically transferred to block
18.
5
Section III
Progress Payment Model Validation Instructions
Amounts above in black are input from
contractors Progress Payment Request (blks
20a,21a,21d 23)
Amounts above in red are automatically generated
from embedded formulas in the protected cells.
Click Here
6
Progress Payment Model Validation Instructions
Click Here
Section B is the date contract was signed.
Amounts in red are automatically generated from
embedded formulas in the protected cells.
Section C is the final delivery date stated in
the contract.
Section D- Place the audit report number and date
accounting system determined adequate for
progress payments.
Section G - indicate either Yes or No concerning
contractor delinquency shipment status.
The amount in section H is the minimum amount
that DFAS should have liquidated. Compare it to
the amount in block 23.
Section J - Performs the Fair Value Test to
deter- mine if progress pay-ments can be
liquidated from the remaining ship-ments for the
contract.