Per Utah Administrative Rule R907-66-7 (2) (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 60 days prior to the anniversary date of their previous financial screening application approval, whichever occurs first. 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 R907-66-7(2) (Consultant Financial Screening and Auditing).
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. D’Ambruoso at (801) 965-4138 or questions or inquiries regarding the financial screening process.Ĭonsultants will need to be financially screened to the level required by the type of contract and services they will be performing. Consultant & Engineering Services ContractsĬonsultant Financial Screening Financial Screeningįinancial Screening is required for firms interested in becoming eligible for 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)).
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