For the first time in a long time, more federal contractors reported decreases in their government contracting revenue last fiscal year than those who saw increases, according to a Grant Thornton survey of about 100 contractors. Thirty-eight percent of contractors suffered reductions in revenue over the past year, compared with 36 percent that saw revenue increases and 26 percent that experienced no significant change, according to the annual Government Contractor Survey released last week. Professional Services Council sponsored the survey. “This year’s survey shows more revenue shrinkage than growth and a plunge in net profit, with the majority of contractors…
Browsing: Grant Thornton
SAN DIEGO| It’s been more than a year since President Obama formally kicked off the “Campaign to Cut Waste” in a June 2011 executive order. Some agencies, though, seem to be taking the charge to reduce administrative costs more seriously than others, a newly released survey of chief financial officers and other federal financial managers indicates. Although 45 percent of respondents said they have been getting “good results” from the campaign, almost as many (44 percent) said they had little to report, were just getting started, had laid plans to start, or (uh-oh) hadn’t done anything, according to the unscientific survey, sponsored by the Association…