Padgett, Stratemann & Co., L.L.P. has been the trusted source for sound traditional tax and auditing services for clients in the public sector for years. We have become a valuable “One Stop Resource” for government contracting entities in and around the San Antonio area.

Our clients have found that our experienced staff has the ability to recognize and deliver tailored services for every entity.

As a member of the RSM McGladrey network, we have the ability to access a wide variety of comprehensive resources to satisfy any type of government contraqctor entity.

Government Contractors' Business Challenges

Dependence on Government Revenues - The amount the federal government can spend each year depends on political factors and the economy's health. State and local governments are even more constrained because they're usually required to have a balanced budget, so spending falls if revenue falls. For example, after growing at an average annual rate of 7 percent between 1995 and 2000, state and local tax revenues were flat in 2002.

Expense of Regulation Compliance - Government contractors must adhere to an additional layer of regulations and accounting procedures. The federal Cost Accounting Standards (CAS), overseen by the Cost Accounting Standards Board (CASB), require contractors to operate a more detailed set of accounting books. CAS focuses on allowable expenses, allocation of expenses to the correct time period, and correct classification of expenses. Defense contractors are audited by the Defense Contract Audit Agency (DCAA); nondefense contractors by other agencies.

For more information regarding the Governmental Contractor team and the services they provide, please feel free to contact: