Consultant Prequalification Process - Financial Prequalification Requirements


Financial Prequalification Requirements

Financial information should reflect the most recent completed fiscal year and must be submitted no later than six months after the end of that fiscal year. eCFR :: 23 CFR 172.11 -- Allowable costs and oversight.  Allowable costs and oversight


Elements of contract costs. The following requirements shall apply to the establishment of the specified elements of contract costs:

(1) Indirect cost rates.

(i) Indirect cost rates shall be updated on an annual basis in accordance with the consultant's annual accounting period and in compliance with the Federal cost principles.

The Department will examine the application and notify the company of any errors or omissions and may request additional information required by the Department to properly evaluate the application.

The company must submit any requested information to the Department within 30 days of receipt of the Department’s request for such information.

Required Documentation

Choose 1 of the 3 Options to complete the Executive Compensation requirements:

  • Complete the National Compensation Matrix located on the AASHTO Committee of Internal and External Audit website;
  • Submit the work papers used to determine reasonableness of compensation using at least three Salary Surveys; or
  •  Provide a table listing the executive titles, total wages paid including taxable benefits, and any bonuses paid.

If providing the table, include notes to describe paid bonuses. For example, are the bonuses based on performance or is it a distribution of profits?

Accounts should be carefully reviewed to ensure all unallowable executive compensation has been identified as unallowable on the overhead rate schedule. Including but not limited to personal use of company vehicles, marketing and entertainment type activities, and commuting.

Note: Previous prequalification submittal links, and are no longer active. 

Submit the completed documents to Prequalification

For assistance in completing the following financial documents contact Audits and Investigations at 573-751-7446.