CPA, CFE, PMP, Managing Partner – Government and Public Sector Advisory
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Providing financial, security and operational support for nationwide 5G transition
Client: Federal Communication Commission (FCC)
Relevance to DOA: Demonstrates our ability to administer, manage and oversee $16B in funding for the largest network infrastructure transition ever undertaken.
The Federal Communication Commission's (FCC) C-band Relocation Program allows Licensees to purchase spectrum rights through a formal auction to expand their 5G capabilities. Beginning July 2020 and anticipated to run through July 2025, CohnReznick serves as the FCC’s Relocation Payment Clearinghouse (RPC), managing the collection and distribution of $16B in spectrum relocation funds. To support the Licensees' 5G rollout nationwide, we developed and implemented financial processes and provided innovative business application IT support to tackle complex technical and operational challenges, optimize operations, and foster efficient and effective execution.
Entities currently operating in the 5G spectrum (incumbents) are being relocated and their relocation costs incurred are funded by the Licensees. The $16B in relocation funds encompassing 5,684 incumbents to be relocated are being managed by CohnReznick. The C-band Relocation Program is highly complex with significant legal and regulatory requirements, an abundance of data/information that is being generated during the program, and myriad requirements for processing, securing and reporting the requisite information to the FCC and program stakeholders.
As the FCC’s RPC, CohnReznick creates and maintains ~20 tailored financial and operational business processes, SOPs, policies & procedures, narratives, flowcharts, internal controls, and enterprise risk management (ERM) documentation. CohnReznick also performs planning, research and financial management and analysis support; developed an investment strategy to generate proceeds to be returned to licensees; performs robust forecast modeling and financial analysis; and implemented security and monitoring controls.
To date, CohnReznick has collected and managed more than $2 billion in relocation costs, reviewed and approved 888 relocation cost claims totaling more than $925 million, and conducted outreach with more than 1,270 claimants to assist with their relocations. The processing of these claims provides cost reimbursements associated with moving existing satellite operations into the upper spectrum, making the lower 300 MHz of the C-band available for flexible use for wireless services and supports the FCC's expansion of 5G services nationwide.
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