Consultant Financial Screening
Financial Screening
Financial Screening is required for firms interested in becoming eligible for Utah Department of Transportation (UDOT) Consultant Services contracts as prime or subconsultants, per 2 CFR Part 200 Subpart E (Cost Principles) and 48 CFR Part 31 (Federal Acquisition Regulations (FAR)). Please contact Audrey R. D’Ambruoso at (401) 374-9254 or adambruoso@utah.gov with questions or inquiries regarding the financial screening process.
Consultants will need to be financially screened to the level required by the type of contract and services they will be performing. A firm does not have to have an approved financial screening to be selected for a contract, but must have financial screening approval in order to have a contract awarded.
The purpose of financial screening is to provide reasonable assurance that the consultant’s financial statements, presented Indirect Cost Rate (ICR), hourly billing rates, and direct costs comply with 2 CFR Part 200 (Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, Federal Acquisition Regulations Part 31), and Utah Rule R907-66-8 (Consultant Financial Screening and Auditing).
Per Utah Administrative Rule R907-66-8 (Consultant Financial Screening and Auditing), consultants are required to submit their firm’s financial screening application (including all required supporting documents) within 90 days of their most recent fiscal year-end or 180 days if the Consultant submits a Certified Public Accountant Audit of the ICR.
The financial screening process consists of verification, risk assessment, desk review, and audit procedures as necessary to:
- Accept a firm’s presented indirect cost rate(s), or
- Recommend adjustments to presented rate(s) in order to accept compliant rate(s), or
- Develop/provide rate(s) to new entities that do not have an existing financial history, or
- Develop/assign acceptable rate(s) for non-compliant consultant presentations, or
- Reject presented rate(s) when processes listed above do not result in reasonable assurance of compliance, or
- Provide financial screening approval for firms that do not present/ require indirect cost rate(s).
Consultant Financial Screening Documents
- (1) IRS W-9 Request for Taxpayer Identification Number and Certification
- (2) FHWA 4470 Certificate of Indirect Costs
- (3) Financial Screening Application
- (4) State of Utah Vendor information Form
- (5) UDOT Management Certification of Accounting System
- (6) AASHTO internal Control Questionnaire (ICQ) Word version
- (6) AASHTO internal Control Questionnaire (ICQ) PDF version
- (7) UDOT Modified Internal Control Questionnaire (ICQ
- (8) UDOT Allocation of Expenses table
- (9) 2024 National Compensation Matrix (For Use With 2023 Financials)
- (9) 2023 National Compensation Matrix (For Use With 2022 Revenue)
- (9) 2022 National Compensation Matrix (For Use With 2021 Financials)
- (9) 2021 National Compensation Matrix (For Use With 2020 Revenue)
- TEMPLATE – ICR Schedule
- (A) New Financial Screening Application Guidance
- (B) New Financial Screening Application Guidance (ROW ACQ Consultants)
- Federal Acquisition Regulations – Quick Reference
- UDOT PPP Information Sheet
- 2024 AASHTO Uniform Audit & Accounting Guide
UDOT Guidance on Coronavirus Legislation
In response to the Coronavirus Pandemic Legislation a number of federal laws were enacted to provide economic relief to individuals and business entities. The relief was received through the Paycheck Protection Program (PPP) forgiven loans, Employee Retention Credit, or other Coronavirus Aid, Relief, and Economic Security Act (CARES Act) Relief Programs.
The Department has revised the UDOT Guidance on Coronavirus Legislation v 4.27.23 which contains instructions for consultants, subconsultants, Project Managers, and other interested parties on how to address the federal and state requirements, including UDOT contracting and invoicing.
UDOT Guidance on Coronavirus Legislation – Consultant Training (Recorded 2023-04-13)