MALIA M. COHEN

CALIFORNIA STATE CONTROLLER

May 28, 2026

REQUEST FOR PROPOSAL (RFP) (Secondary) NUMBER ESAR90226

Economic Advisory Services – Consulting Services

Notice to Prospective Proposers

You are invited to review and respond to this Request for Proposal (RFP) (Secondary) Number ESAR90226. In submitting your proposal, you must comply with these instructions.

Read the attached document carefully. Please submit all required forms and documents with your proposal response as indicated in this RFP. Any response received after the date and time indicated in this RFP will not be considered for review.

Proposers are advised to check the Cal eProcure website for addendums, modifications, and updates to the Proposal documents. The State Controller's Office (SCO) is not responsible for failure of the prospective proposer to check for any proposal document updates, changes, or answers to questions posted on Cal eProcure. Failure to periodically check the website will be at the Proposer’s sole risk.

If a discrepancy occurs between the information in the advertisement appearing on the Department of General Services, California State Contracts Register (CSCR) on the Cal eProcure website:

https://caleprocure.ca.gov/pages/Events-BS3/event-search.aspx and the information in the herein RFP, the information in the attached RFP shall take precedence.

Note that all contracts entered into with the State of California will include by reference General Terms and Conditions and Contractor Certification Clauses that may be viewed and downloaded at Internet site https://www.dgs.ca.gov/OLS/Resources/Page-Content/Office-of-Legal-Services-Resources-List- Folder/Standard-Contract-Language. If you do not have Internet access, a hard copy can be provided.

In the opinion of SCO, this RFP is complete and without need of explanation. However, if you have questions, or should you need any clarifying information, please email SCOBids@sco.ca.gov.

Please note that no verbal information given will be binding upon the State unless such information is issued in writing as an official addendum.

State Controller’s Office RFP Number ESAR90226

TABLE of CONTENTS

Section I. General Information A. Purpose and Description of Services B. Minimum Qualifications

1. Proposer Firm Minimum Qualifications (FMQs)

2. Key Staff Minimum Qualifications (KSMQs)

3. Background Check C. Proposal Requirements and Information

1. Key Action Dates

2. Written Questions & Answers

3. Technical Proposal D. Submission of Proposal E. Evaluation Process

1. Key Staff Desirable Qualifications

2. Proposer Guarantee

3. Firm’s Organizational and Operational Structure

4. Approach and Methodology

5. Firm References

6. Key Staff References

7. Interview

8. Score Total G. Award and Protest H. Disposition of Proposals I. Agreement Execution and Performance J. Preference Programs

1. Disabled Veteran Business Enterprise (DVBE) Program Participation

2. DVBE Incentive

3. Small Business Preference Program

4. Non-Small Business Preference Request

5. Ties between Certified SB/MB and DVBE Businesses

6. Target Area Preference Act Preference K. Required Attachments

ATTACHMENT 1, REQUIRED ATTACHMENT CHECKLIST

ATTACHMENT 2, PROPOSAL/PROPOSER CERTIFICATION SHEET

ATTACHMENT 3, CONTRACTOR POINT OF CONTACT

ATTACHMENT 4, DARFUR CONTRACTING ACT CERTIFICATION (DGS PD 1) *

ATTACHMENT 5, PAYEE DATA RECORD (STD 204) AND SUPPLEMENT (STD 205) *

ATTACHMENT 6, CONTRACTOR CERTIFICATION CLAUSES (CCC 04/2017)

ATTACHMENT 7, CALIFORNIA CIVIL RIGHTS LAWS CERTIFICATION (DGS OLS 04)

ATTACHMENT 8, IRAN CONTRACTING ACT VERIFICATION FORM (DGS PD 3) *

ATTACHMENT 9, BIDDER DECLARATION (WRITTEN) (GSPD-05-105)

ATTACHMENT 10, CALIFORNIA DISABLED VETERAN BUSINESS ENTERPRISE (DVBE) DECLARATIONS

(STD 843) *

ATTACHMENT 11, SECRETARY OF STATE CERTIFICATION STATUS*

ATTACHMENT 12, TARGET AREA CONTRACT PREFERENCE ACT (TACPA) (STD 830) *

ATTACHMENT 13, BIDDER’S SUMMARY OF CONTRACT ACTIVITIES AND LABOR HOURS (DGS PD 526)

ATTACHMENT 14, GENERATIVE ARTIFICIAL INTELLEGENCE (GENAI) DISCLOSURE

ATTACHMENT 15, ACKNOWLEDGEMENT OF AGREEMENT EXHIBITS AND POLICIES

ATTACHMENT 16, PROPOSAL INCENTIVES AND PREFERENCES

ATTACHMENT 17, FIRM REFERENCES

ATTACHMENT 18, KEY STAFF REFERENCES

ATTACHMENT 19, CONTRACTOR/CONSULTANT ORGANIZATION INFORMATION SECURITY

AGREEMENT (ISO-004c)

ATTACHMENT 20, CONTRACTOR/CONSULTANT CONFIDENTIALITY AND NON-DISCLOSURE

ACKNOWLEDGEMENT (ISO-004b)

ATTACHMENT 21, FIRM MINIMUM QUALIFICATIONS WORKBOOK

ATTACHMENT 22, KEY STAFF QUALIFICATIONS WORKBOOK

ATTACHMENT 23, COST WORKSHEET

Standard Agreement Exhibit A – Scope of Work Exhibit A, Attachment 1 - Change Key Staff Reference Form Exhibit A, Attachment 2 - Personnel Change Order Request Form Exhibit A, Attachment 3 - Prime Contractor’s Certification – Small Business Subcontractor Report Exhibit B – Budget Detail and Payment Provisions Exhibit B – Attachment 1, Cost Worksheet Exhibit C – General Terms and Conditions (GTC 02/2025)** Exhibit D – Special Terms and Conditions Exhibit E - Information Technology, Data, and Security Provisions Exhibit F - Resumes

*Submit only if applicable.

**Incorporated by reference only.

Section I. General Information

A. Purpose and Description of Services

The State Controller’s Office (SCO) is seeking a contractor to provide monthly forecasting and economic advisory services and assist SCO in response to the economy, financial changes, and budget deficits, as described herein. The Contractor shall provide quarterly comprehensive reports regarding state economic conditions to the State Controller’s Council of Economic Advisors, which is charged with providing the Controller current and objective economic information and analysis. The Contractor will participate in quarterly meetings anticipated to be scheduled around the Controller’s monthly cash report release prior to the 10th day of each month of the year. The Contractor is expected to make themselves available to the Controller on an ad-hoc basis when issues arise to provide real-time advice and guidance on emergent fiscal issues.

The Contractor shall assist SCO in managing and monitoring the State of California (State) cash flows, refinements to previously developed forecasting models, and projection of future cash flows in the State’s General Fund and borrowable funds. The Contractor will provide detailed analysis of the State’s economic trends, focusing on key indicators such as employment, industry performance, and consumer spending.

The Contractor will monitor all facets of state, federal, and global economic conditions and assess the impact of state and federal policies on the economy and offer insights across major areas such as technology, agriculture and tourism. Short- and long-term economic forecasts will be developed, highlighting potential growth opportunities and challenges.

See the Standard Agreement, Exhibit A, Scope of Work for a complete description of services.

Background

The Controller has broad responsibility for supervising the fiscal concerns of the state and to suggest plans for the improvement and management of public revenues. In addition, the Controller is an ex officio officer on most, if not all revenue generating financial boards and commissions including but not limited to, the Franchise Tax Board and the Board of Equalization. Historically, in recognition of these duties, the Controller had an economist on staff.

Agreement Term

The term of this agreement will be for three (3) years with the options to amend to add funds, as deemed necessary by SCO. The rates on Attachment 23, Cost Worksheet will not change as a result of any amendment to this agreement. This agreement may be terminated by SCO with 30 days’ written notice to the Contractor.

The Contractor is cautioned that no work shall begin until the Agreement has been fully executed. If work is performed prior to agreement approval, and the Agreement for any reason is not approved, all previous work performed by the Contractor is considered donated to SCO and no payment shall be made for that work.

Agreement Amount

The Contractor and SCO Contract Manager (CM) are responsible for monitoring the Agreement cost to ensure it does not exceed the maximum amount of the Agreement without an executed amendment.

B. Minimum Qualifications

Proposers must meet all of the following Minimum Qualifications (MQ) and submit the required Attachment and any documents (i.e., organizational charts, resumes, licenses, and degrees, etc.) that clearly explain and substantiate how the particular Minimum Qualification is met to be considered responsive. A responsive proposal is one that meets or exceeds all the requirements stated in this RFP.

Any proposal that does not meet the Minimum Qualifications and does not submit the required documents may be considered non-responsive and may be disqualified. Failure to satisfy any of these qualifications and requirements upon submittal of the Proposal will result in the rejection of the Proposal.

1. Proposer Firm Minimum Qualifications (FMQs)

The Proposer Firm is expected to have a proven record of success providing economic advisory services and be responsible for all aspects of the service, including any subcontractors and the project team/proposed key staff.

The Proposer must complete and submit as part of the Proposal, Attachment 21, Firm Minimum Qualifications Workbook, to confirm that the Proposer Firm experience meets all of the qualifications indicated below.

a. The Proposer must have experience working at state or local level in California.

b. The Proposer must be a professional economic consulting and forecasting firm or practitioner that provides detailed analysis of the State’s economic trends, focusing on key indicators such as employment income, industry performance, construction, trade, and consumer spending.

c. The Proposer shall have a minimum of 10 years of experience, within the last 15 years, performing similar types of services as stated in this RFP.

d. The Proposer shall have a minimum of 10 years of direct experience, within the past 15 years, working with a California State Agency or any of the 50 United States (U.S.) including the District of Columbia, excluding U.S. Territories, performing economic consulting and/or forecasting.

2. Key Staff Minimum Qualifications (KSMQs)

The Proposer must identify at least one (1), but no more than three (3), Key Staff who will be assigned to perform services for this agreement, including subcontractor key staff (when applicable).

The Proposer must complete Attachment 22, Key Staff Qualifications Workbook and provide resumes and/or degrees (if applicable) for Key Staff to validate staff qualifications. For the purpose of assessing Key Staff Minimum Qualifications, one (1) year of experience is defined as 52 weeks of full-time work (40 hours per week). Key Staff must have the following:

a. Each proposed key staff must have at least 10 years of experience within the past 20 years, working in the capacity of professional economic professor, consultant, or forecaster; including providing detailed analysis of economic trends, focusing on key indicators such as employment, industry performance, and consumer spending.

b. Each proposed key staff must have at least 10 years of experience within the past 20 years, performing regional economic analysis focusing on unique economic sectors, demographic trends, public policies, and expertise in econometrics for developing robust economic and forecasting models.

c. At least one of the proposed key staff must possess a master’s degree in economics, finance, or public policy. A copy of the degree must be included in the proposal submission. If a degree was obtained outside the United States, the Proposal must include a credential evaluation report issued by a member organization of the National Association of Credential Evaluation Services (NACES) or the Association of International Credential Evaluators (AICE).

3. Background Check

This agreement requires the proposed key staff performing the services of this RFP to pass a Live Scan background check. Contractor staff are only allowed to perform services while physically located within the contiguous United States unless prior written approval has been obtained. Upon notice of agreement award, SCO will provide the Contractor all necessary forms and locations for each proposed key staff to complete the background check process.

a. If proposed key staff are located in the Sacramento area, they must be fingerprinted at SCO.

b. If proposed key staff are located outside the Sacramento area, but in Northern California, they may go to a Live Scan location of their choosing.

c. If proposed key staff are located in Southern California or outside of California, they must go to a local law enforcement agency or other entity licensed to roll fingerprints to request completion of a standard FBI applicant fingerprint card (FD-258) provided by SCO and mail [i.e., United States Postal Service (USPS)] the completed forms and FD-258 back to SCO.

Background checks must be completed and passed prior to beginning work on the Agreement. If a Contractor’s proposed key staff does not pass the Live Scan background check process, the Contractor must replace the offered individual with a new candidate within seven (7) business days that meets the same qualifications and experience as the key staff being replaced. At SCO discretion, SCO may deny award of the Agreement subject to failed background checks. Contractors and the proposed key staff will be held to the same background check standards as SCO employees.

The Contractor shall ensure that each proposed key staff under the Agreement are made aware of, understand, and comply with the provisions of SCO Live Scan background checks. Any additional or replacement individuals added to the Agreement will be subject to the same terms.

C. Proposal Requirements and Information

1. Key Action Dates

ACTION DATE

RFP Available to Prospective Proposers May 28, 2026 Written Questions Submittal Deadline June 4, 2026 by 2:00 p.m. PT* Written Questions & Answers Released June 9, 2026 Final Date for Proposal Submission June 22, 2026 by 2:00:00 p.m. PT* Evaluation of Proposals** June 22 through June 26, 2026 Interviews*** June 29, 2026 through July 3, 2026 Notice of Intent to Award July 3, 2026 Proposed Award Date July 13, 2026 Agreement Begins August 10, 2026 *Pacific Time (PT) **Dates after Proposal Submission are estimates only and may be subject to change. SCO will adhere to the listed dates as strictly as possible but will not be held accountable for changes due to unforeseen circumstances.

***The interview dates are approximate and may be adjusted by SCO as needed without an addendum to this RFP. Proposers and key staff should be available during the Key Action Dates identified to participate in interviews. If deemed nonresponsive or unavailable to interview, proposers will receive zero points for this scoring component.

2. Written Questions & Answers

a. Proposers may submit questions for clarification of the content of this RFP to

SCObids@sco.ca.gov. Questions and any proposed changes must be submitted by the Written Questions Submittal Deadline date as stated in Section I. General Information, Section C, Proposal Requirements and Information, 1. Key Action Dates.

b. Any questions or proposed changes to the RFP or Standard Agreement must be submitted on or before the Written Questions Submittal Deadline date as stated in Section C, Proposal Requirements and Information, 1. Key Action Dates. A proposal submitted with alternate agreement language, that was not accepted through an addendum to the RFP, will be considered a counter offer and will not be considered. The State’s General Terms and Conditions (GTC 02/2025) are not negotiable.

c. The subject line of the email should read, RFP ESAR90226 Questions – Company Name.

d. The Proposer must reference the section and page number about which they are inquiring.

e. Written Questions and Answers will be provided without identifying the submitter. SCO may paraphrase questions, at its sole discretion, for clarity.

f. Questions and Answers will be posted to Cal eProcure on or before the Written Questions &

Answers Released date specified in Section I. General Information, Section C, Proposal Requirements and Information, 1. Key Action Dates.

3. Technical Proposal

Proposals must describe the Proposer’s qualifications and expertise in the format outlined in this RFP.

A Proposal will not be considered complete unless it contains all of the items described below.

Technical Proposal includes all of the following items:

a. Attachment 1, Required Attachment Checklist

The Proposer must submit all applicable attachments identified on Attachment 1, Required Attachment Checklist. Proposers are not to alter or modify the forms other than by providing the required information; please note, adding your firm’s logo or letterhead to the form is not considered a modification or alteration of the form.

b. Key Staff Desirable Qualifications (KSDQs)

The Proposer must complete Attachment 22, Key Staff Qualifications Workbook, KSDQ tab to qualify for additional points. For the purpose of assessing KSDQs, one (1) year of experience is defined as 52 weeks of full-time work (40 hours per week).

1) Experience as an economics professor or adjunct professor.

2) Ten (10) years’ experience with Advance Technical and Data Skills in causal interface and modeling with the ability to move beyond predictive machine learning to “cause and effect” analysis and/or data visualization experience with tools like Tableau or Power BI to present complex findings clearly.

3) A doctorate degree in economics, finance, or public policy. A copy of the degree must be included in the proposal submission. If a degree was obtained outside the United States, the Proposal must include a credential evaluation report issued by a member organization of the National Association of Credential Evaluation Services (NACES) or the Association of

International Credential Evaluators (AICE).

c. Proposer Guarantee

The Proposer shall provide a Letter of Guarantee explaining their ability to perform the services identified in Standard Agreement, Exhibit A, Scope of Work and includes:

i. A signature from an individual who is authorized to bind the Proposer contractually to certify that the Proposer guarantees their ability to perform the services as identified in this RFP.

ii. A statement expressing the Proposer’s availability of staff and other required resources to successfully perform all services and provide all deliverables as described in this RFP.

iii. A statement expressing the Proposer’s strong commitment to establishing, maintaining, and supporting diversity in its ownership and professional staff members.

iv. A statement expressing the Proposer’s willingness to comply with the terms and conditions of this agreement.

v. A signature from an individual who is authorized to bind the Proposer contractually to certify that the Proposer guarantees their ability to perform the services as identified in this RFP.

d. Organizational Structure

List the name and classification of the proposed key staff member(s) and identify who will be assigned to each of the tasks and deliverables identified in Standard Agreement, Exhibit A, Scope of Work.

e. Operational Structure

1) Describe the usual process for interface with the client and the communication plan for completing the tasks and deliverables under this agreement including:

• For Proposer, describe the internal chain of command, describe the workflow, quality assurance measures, and how the project will be prioritized.

• Identify the individual with the overall responsibility for the Proposer’s operations and contract performance?

• Define the specific role of each proposed key staff member, and how the Proposer will personally execute the specialized requirements of the SOW.

• Describe the role of support staff or the external resources, tools, or administrative systems used to ensure timely delivery.

2) Describe experience in working with Executive (C-Suite) government entities relative to internal control assessment.

f. Approach and Methodology

The Proposer shall provide a detailed work plan including a summary of the work to be completed as understood, the goals and objectives to complete the requisite tasks, the resources necessary to achieve these outputs, the actions to be taken or strategy to be utilized to achieve these outcomes, and a timeline or schedule to complete the Agreement requirements as identified in this RFP. The response will be scored based on the comprehensiveness and detail provided.

The narrative response must be single spaced, Arial font 12, and no longer than 10 pages. If a response is longer than ten pages, only the first ten pages will be reviewed and scored.

The detailed plan and schedule of when and how consulting services will be provided shall include:

1) List standard services provided in a typical consulting engagement.

2) List similar types of agreements, successfully concluded, with a sample of such work.

3) Identify subcontractor’s (if applicable). Include qualifications, reporting responsibility of each firm and/or person assigned to each task, and method of monitoring subcontractor performance.

g. Firm References

1) The Proposer shall provide three (3) current references for similar type of services performed within the last five (5) years on Attachment 17, Firm References. Attachment 17, Firm References must be completed in its entirety At least one (1) reference must be from experience used to meet the Firm Minimum Qualifications.

2) References will be contacted to validate ratings. SCO will make up to three attempts via phone/email to validate references. Failure to reach a listed reference will result in the ratings being scored zero and the Proposal may be deemed non-compliant and disqualified in its entirety.

3) References will be scored based on the accumulative average score provided by the three references listed on Attachment 17, Firm References.

4) References cannot be used more than once.

h. Key Staff References

1) The Proposer shall provide two (2) current references for each proposed key staff for similar types of services performed within the last five (5) years on Attachment 18, Key Staff References. Attachment 18, Key Staff References must be completed in its entirety and cannot be duplicated for each Key Staff. References need to be previous clients they performed the work for and cannot be references from within the proposer firm.

2) References will be contacted to validate ratings. SCO will make up to three attempts via phone/email to validate references. Failure to reach a listed reference will result in the ratings being scored zero and the Proposal may be deemed non-compliant and disqualified in its entirety.

3) References will be scored based on the accumulative average score provided by the reference contacts listed on the Attachment 18, Key Staff References.

D. Submission of Proposal

1. Proposals must be submitted as set forth below.

a. Proposers must submit their proposal (Technical Proposal and Cost) in portable document format (PDF) and Minimum Qualifications in an Excel workbook attached to an email to SCOBids@sco.ca.gov by the date and time specified in Section C, Proposal Requirements and Information, Item 1. Key Action Dates. Subject line must include the RFP ESAR90226 – Economic Advisory Services.

b. Email Requirements

1) Proposers must ensure that emails do not exceed a file size of 20 megabytes.

2) Proposers must ensure that emails do not contain scripts, password protections, executable files, or macros, which may make their emails undeliverable.

3) Do not imbed links within the PDF—all documents must be contained within the PDF. SCO cannot access links to external sources. Proposals containing links to external sources will be rejected.

4) If the email should exceed acceptable file size, the Proposer shall split the email into multiple emails to ensure delivery.

5) Bid submissions that are sent from unrecognized email servers may be blocked by SCO security filters and be flagged as spam, thereby rendering them unsubmitted.

6) An automatic reply from SCOBids@sco.ca.gov confirms receipt of bidders’ emails. Automatic replies only confirm receipt of emails and do not assess bidders’ responsiveness to the IFB requirements in the email content or in any attachments therein.

7) LATE PROPOSAL SUBMISSIONS WILL NOT BE ACCEPTED—NO EXCEPTIONS.

c. Proposals not marked as indicated may be rejected.

d. If the Proposal is made under a fictitious name or business title, the actual legal name of the Proposer must be provided.

e. All proposals shall include the documents identified in Attachment 1, Required Attachment Checklist. Proposals not including the proper "required attachments" may be deemed non-responsive. A non-responsive proposal is one that does not meet the basic proposal requirements.

f. All documents requiring a signature must bear a signature of a person authorized to bind the proposing firm.

g. Proposals must be submitted for the performance of all the services described herein. Any deviation from the work specifications will not be considered and will cause a proposal to be rejected.

h. SCO may reject any or all proposals. A proposal may be rejected if it is conditional or incomplete, or if it contains any alterations of form or other irregularities of any kind.

i. SCO may waive an immaterial deviation in a proposal. SCO waiver of an immaterial deviation shall in no way modify the RFP document or excuse the Proposer from full compliance with all requirements if awarded the Agreement.

j. Costs incurred for developing proposals and in anticipation of award of the Agreement are entirely the responsibility of the Proposer and shall not be charged to the State of California.

k. An individual who is authorized to bind the Proposer contractually shall sign Attachment 2, Proposal/Proposer Certification Sheet. The signature should indicate the title or position that the individual holds in the firm. An unsigned proposal shall be rejected.

l. A proposer may modify a proposal after its submission by withdrawing its original proposal and resubmitting a new proposal prior to the Final Date for Proposal Submissions. A proposer’s modification offered in any other manner, oral or written, will not be considered.

m. A proposer may withdraw its proposal by submitting a written withdrawal request to SCO, signed by the Proposer or an authorized agent. A proposer may thereafter submit a new proposal prior to the Final Date for Proposal Submission. Proposals may not be withdrawn without cause subsequent to the Final Date for Proposal Submission.

n. SCO may modify the RFP prior to the Final Date for Proposal Submission by issuing an addendum that shall be posted to Cal eProcure.

o. SCO reserves the right to reject all proposals. SCO is not required to award an agreement.

p. SCO does not accept alternate agreement language from a prospective contractor. A proposal with such language will be considered a counterproposal and will be rejected. The State’s General Terms and Conditions (GTC 02/2025) are not negotiable.

q. No oral understanding or agreement shall be binding on either party.

E. Evaluation Process

1. The evaluation process complies with the requirements for competitive bidding in California Public

Contract Code Section 10344. Each proposal will be evaluated to determine responsiveness to the requirements and standards described in this RFP. SCO cannot assume nor infer qualifications, skill, experience, or competence not specifically and expressly addressed in the Proposal. During the evaluation and selection process, SCO may wish to interview a proposer for clarification only.

2. Proposals cannot be changed after the time and date designated for receipt.

3. Proposals that contain false or misleading statements, or which provide references, which do not support an attribute or condition claimed by the Proposer, may be rejected.

4. A responsive proposal is one which meets or exceeds the requirements stated in this RFP. At the time of proposal opening, each proposal will be checked for the presence or absence of required information in conformance with the submission requirements of this RFP, proposals that meet the minimum qualifications will be evaluated and scored according to the criteria indicated in the following process:

a. Administrative Evaluation

1. Proposals shall be date/time stamped upon receipt.

2. Proposals will be reviewed to verify that submission is in a single PDF and Excel workbook, properly identified, and received on or before the final filing date and time specified in Section I.

General Information, Section C. Proposal Requirements and Information, 1. Key Action Dates.

3. Proposals shall remain sealed until after Final Date for Proposal Submission.

4. Proposals will be reviewed to determine completeness of required documentation and compliance as identified in this RFP. SCO staff will use the Attachment 1, Required Attachments Checklist, submitted by the Proposer to confirm receipt of all required documents.

Proposal requirements will be evaluated on a “pass/fail” basis for all criteria and information.

SCO may reject any or all Proposals that fail to meet these requirements.

b. Minimum Qualification Evaluation

Upon satisfactory Preliminary Review, the Technical Proposal will be reviewed to determine the Proposer’s satisfaction of the Minimum Qualifications requirements. For Proposals that satisfy the Minimum Qualifications, the Technical Proposal will be evaluated by a team of SCO Staff (Evaluation Team).

c. Technical Proposal Evaluation and Scoring

1) The Evaluation Team will independently evaluate each Proposer’s Technical Proposal using the

Proposal evaluation criteria as stated in Section E. Evaluation Process, Item 5. Evaluation Worksheet.

2) Each proposal shall be awarded up to the maximum points available in each category for a maximum of 700 points available with an emphasis on the experience, qualifications, and the references of the Proposer, as well as the experience and qualifications of the key staff assigned to SCO. The Technical Proposal should provide the detail, clarity, completeness, relevance, and appropriateness of the experience as it relates to the needs of SCO as stated in this RFP.

3) Once individual scoring has been completed, team members will determine a single score for each Proposers Technical Proposal upon consensus of the Evaluation Team.

d. Cost Assessment and Scoring

1) The Evaluation Team will review the Cost Proposal Worksheets to verify mathematical accuracy and determine if there are any deviations in the proposal. If a deviation is material, it may be cause for rejection. Immaterial deviations will be processed as if no deviation had occurred.

2) Cost Proposal Worksheets shall be evaluated and scored based on the total proposal cost for the term of the Agreement.

3) The Proposer with the lowest cost Proposal will be awarded the maximum number of points available (210 points), which is 30 percent of the total points available. The technical score is 27 percent and 190 points, the interview score is 43 percent and 300 points, and the cost score is 30 percent and 210 points.

4) The Proposer’s cost score will be based on a proportional number of points as it relates to the total costs associated with the lowest responsive proposal multiplied by the maximum number of cost points.

5) The following formula shall be used to determine cost points (Sample):

Lowest Proposer’s Cost ($600,000) X maximum cost points (210) divided by other Proposer’s Cost = cost points awarded to the other Proposer.

LOWEST COST PROPOSAL ($600,000) X 210 COST POINTS AVAILABLE

OTHER PROPOSAL COST

= COST POINTS AWARDED TO OTHER PROPOSAL

10. Selection

Award will be made to the highest scoring, responsive, responsible proposer.

11. Evaluation Worksheet

The Evaluation Worksheet details the evaluation and scoring criteria. The Evaluation Worksheet will be found on the following pages for your reference.

Proposer Proposal Cost Calculation Points

Awarded A $675,000 $600,000 (Proposer B) X 210 (weight) / $675,000 (Proposer A) 187

B $600,000 $600,000 (Proposer B) X 210(weight) / $600,000 (Proposer B) 210 C $650,000 $600,000 (Proposer B) X 210 (weight) / $650,000 (Proposer C) 194

EVALUATION WORKSHEET

Name of Proposer: ______________________________________________

Evaluator: ________________________________ Date: ________________

A. Administrative Evaluation

Description Pass/Fail Proposal received by the date and time specified in the RFP.

Proposal includes no more than three Key Staff assigned to perform services

All applicable attachments identified on Attachment 1, Required Attachment Checklist were completed and submitted. Proposers are not to alter or modify the forms other than by providing the required information; please note, adding your firm’s logo or letterhead to the form is not considered a modification or alteration of the form.

Proposer Letter of Guarantee included in proposal package as specified in RFP.

Firm’s Organizational and Operational Structure included in the proposal package as specified in the RFP.

Firm’s Approach/Methodology included in the proposal package as specified in the RFP.

References included in the proposal package as specified in the

RFP.

B. Minimum Qualification Evaluation

Proposer Firm Minimum Qualifications Description Pass/Fail

Proposer must have experience working at state or local level in California.

The Proposer must be a professional economic consulting and forecasting firm or practitioner that provides detailed analysis of the State’s economic trends, focusing on key indicators such as employment income, industry performance, construction, trade, and consumer spending.

The Proposer shall have a minimum of 10 years of experience, within the last 15 years, performing similar type of services as stated in this RFP.

The Proposer shall have a minimum of 10 years of direct experience, within the past 15 years, working with a California State Agency or any of the 50 U.S. states including the District of Columbia, excluding U.S. Territories, performing economic consulting and/or forecasting.

Proposer Key Staff Minimum Qualifications Description Pass/Fail Each proposed key staff must have at least 10 years of experience within the past 20 years, working in the capacity of professional economic professor, consultant, or forecaster;

including providing detailed analysis of economic trends, focusing on key indicators such as employment, industry performance, and consumer spending

Each proposed key staff must have at least 10 years of experience, within the past 20 years, in regional economic analysis focusing on unique economic sectors, demographic trends, public policies, and expertise in econometrics for developing robust economic and forecasting models.

At least one of the proposed key staff must possess a master’s degree in economics, finance, or public policy. A copy of the degree must be included in the proposal submission. If a degree was obtained outside the United States, the Proposal must include a credential evaluation report issued by a member organization of the National Association of Credential Evaluation Services (NACES) or the Association of International Credential Evaluators (AICE).

Proposers must receive a “Pass” for the Minimum Qualifications to have the remaining Technical Proposal evaluated. If the Proposer did not receive a “Pass” for the Minimum Qualifications the Proposal is considered non-responsive and will, therefore, be disqualified.

C. Technical Proposal Evaluation and Scoring

Technical Evaluation will consist of an evaluation based on the technical criteria described below to determine scoring for the Proposer and Key Staff Desirable Qualifications. Each proposal will be scored on the following criteria: Key Staff Desirable Qualifications, Proposer Guarantee, Firm’s Organizational and Operational Structure, Approach/Methodology, Firm References, and Key Staff References.

Proposers must receive a “Pass” for the Minimum Qualifications to have the remaining Technical Proposal evaluated. If the Proposer did not receive a “Pass” for the Minimum Qualifications the Proposal is considered non-responsive and is therefore disqualified.

1. Key Staff Desirable Qualifications

Key Staff Desirable Qualifications (KSDQs) are optional. If submitted, it will be assessed and scored up only for proposals that pass the Pass/Fail components. Each Key Staff that meets a KSDQ will be awarded a maximum of 50 points. Awarded scores will be summed up and averaged to become the KSDQ Score.

The Proposer must complete Attachment 22, Key Staff Qualifications Workbook, Key Staff DQs tab to qualify for additional points. For the purpose of assessing KSDQs, one (1) year of experience is defined as 52 weeks of full-time work (40 hours per week).

Key Staff Desirable Qualifications Scoring Example:

Key Staff Desirable Qualifications

Description Maximum Points

Points Scored

Experience as an economics professor or adjunct professor. 5

Ten (10) years’ experience with Advance Technical and Data Skills in causal interface and modeling with the ability to move beyond predictive machine learning to “cause and effect” analysis and/or data visualization experience with tools like Tableau or Power BI to present complex findings clearly

A doctorate degree in economics, finance, or public policy. A copy of the degree must be included in the proposal submission. If a degree was obtained outside the United States, the Proposal must include a credential evaluation report issued by a member organization of the National Association of Credential Evaluation Services (NACES) or the Association of International Credential Evaluators (AICE).

Total Points 50

2. Proposer Guarantee

Information Proposer Provided

Indicates Maximum Points Points Scored

Insufficient Information Provided 0 Sufficient Information Provided 5 Comprehensive Information Provided 10

Total Points 10

3. Firm’s Organizational and Operational Structure

a. Organizational structure identifying the assigned key staff members.

Indicates Maximum Points Points Scored

Insufficient Information Provided 0 Sufficient Information Provided 5 Comprehensive Information Provided 10

b. Operational structure identifying usual process for interface with the client and the communication plan.

Insufficient Information Provided 0 Sufficient Information Provided 5

Comprehensive Information Provided 10

Total Points for Firm’s Organizational and Operational

Background Maximum Points Points Scored

Insufficient Information Provided 0 Sufficient Information Provided 10 Comprehensive Information Provided 20

Total Points 20

4. Approach and Methodology

Insufficient Information Provided 0 Sufficient Information Provided 5

Comprehensive Information Provided 10

5. Firm References

The Proposer shall provide three (3) current references from previous engagements that substantiate the Proposer’s expertise in providing forecasting and economic advisory services and assist SCO in response to the economy, financial changes, and budget deficits performed within the last 10 years on Attachment 17, Firm References. Attachment 17, Firm References must be completed in its entirety. Include the service description, name, and current telephone number of the reference contact person(s), the score, and signature of the reference contact person(s). References will be scored based on the accumulative average score provided by the three contacts listed on Attachment 17, Firm References.

Firm Reference Form Scoring Example

Proposer A PR1 PR2 PR3 PR4 PR5 Firm Reference Score Firm Reference #1 10 10 10 10 10 50* Firm Reference #2 10 8 10 8 8 44 Firm Reference #3 10 10 10 10 10 50

Subtotal (sum all reference scores) 144 Firm Reference Score (subtotal ÷ # of references) 144 ÷ 3 = 48

*Average ratings resulting in a decimal will be rounded to the nearest whole number.

6. Key Staff References

The Proposer shall provide two (2) current references for each proposed key staff that substantiate the key staff’s expertise in providing similar types of services performed within the last five (5) years on Attachment 16, Key Staff References. Attachment 18, Key Staff References must be completed in its entirety. Include the service description, name, and current telephone number of the reference contact person(s), the score, and signature of the reference contact person(s). References will be scored based on the accumulative average score provided by the three contacts for each Key Staff listed on Attachment 18, Key Staff References.

Key Staff Reference Form Scoring Example

Proposer A, Key Staff #1

PR1 PR2 PR3 PR4 PR5 Score

Reference 1 10 8 8 8 10 44 Reference 2 10 10 10 10 10 50 Proposer A, Key Staff #2

PR1 PR2 PR3 PR4 PR5 Score

Reference 1 10 10 10 10 10 50 Reference 2 8 5 8 8 10 39 Proposer A, Key Staff #3

PR1 PR2 PR3 PR4 PR5 Score

Reference 1 10 8 8 8 10 44 Reference 2 10 10 10 10 10 50

Subtotal (sum all reference scores) 277 Key Staff Reference Score (Subtotal ÷ # of references) 277÷ 6 = 46*

*Average ratings resulting in a decimal will be rounded to the nearest whole number.

7. Interview

Proposer’s key staff who will exercise a significant role under the Agreement will be required to appear for an interview with SCO via Microsoft Teams.

Table 1 - Interview Score Example:

A B C D

Q# Assigned Rating Value Maximum Possible Score

Score (B X C = D)

1 100% 60 100% x 60 = 60 2 100% 60 100% x 60 = 60 3 100% 60 100% x 60= 60 4 100% 60 100% x 60 = 60 5 100% 60 100% x 60= 60

Total Interview Score (Sum all Scores) 300 *Standard rounding rules apply.

Table 2 - Interview Rating Values and Criteria:

Rating Values Rating Criteria

100% Excellent: All components are addressed with the highest degree of confidence.

75% Good: The response addressed almost all of the components with an above average degree of confidence.

50% Fair: The response addressed most of the components with an average degree of confidence.

25% Poor: The response minimally addressed the components with a below average degree of confidence.

0 No Value: The response failed to address the topic with no degree of confidence.

8. Score Total

Total Points Maximum Points Points Scored

1. Key Staff Desirable Qualifications 50

2. Proposer Guarantee 10

3. Firm’s Organizational and Operational Structure 20

4. Approach and Mythology 10

5. Firm References 50

6. Key Staff References 50

7. Interview 300

Proposer’s Technical Score 190 Proposer’s Interview Score 300

Proposer’s Cost Score 210 Incentives and Preferences, as applicable TBD

Proposer’s Total Score 700

COMMENTS:

► End of Evaluation Worksheet ◄

G. Award and Protest

1. Notice of the Proposed award shall be posted for five working days prior to awarding the Agreement in a place accessible by the general public on the California State Contracts Register, Cal eProcure Event page: https://caleprocure.ca.gov/pages/Events-BS3/event-search.aspx.

2. If any proposer, prior to the award of the Agreement, files a protest with the SCO and the Department of General Services (DGS), Office of Legal Services (OLS), 707 Third Street, 7th Floor, Suite 7-330, West Sacramento, CA 95605, on the grounds that the (protesting) proposer would have been awarded the Agreement had the SCO correctly applied the evaluation standard in the RFP, or if the SCO followed the evaluation and scoring methods in the RFP, the Agreement shall not be awarded until either the protest has been withdrawn or the DGS has decided the matter. It is suggested that you submit any protest by certified or registered mail.

3. Within five (5) days after filing the protest, the protesting proposer shall file with the DGS, OLS and the

SCO, a detailed statement specifying the grounds for the protest. The written protest must be sent to DGS OLS, 707 Third Street, 7th Floor, Suite 7-330, West Sacramento, CA 95605. A copy of the detailed written statement must be emailed to SCO, at SCOBids@sco.ca.gov, Attention: Contracts Office

H. Disposition of Proposals

1. Upon proposal opening, all documents submitted in response to this RFP will become the property of the State of California and will be regarded as public records under the California Public Records Act (GC Section 6250 et seq.) and subject to review by the public.

I. Agreement Execution and Performance

1. The Agreement will be executed only upon SCO acceptance of all documents required by this RFP.

The Agreement is attached and by virtue of submitting a proposal, the Proposer agrees to the terms and conditions stated herein.

2. Service shall start no sooner than the Agreement start date specified in Section C, Proposal Requirements and Information, 1. Key Action Dates, or on the express date set by SCO and the Contractor, after all approvals have been obtained and the Agreement is fully executed. Should the Contractor fail to commence work at the agreed upon time, SCO, upon five (5) days written notice to the Contractor, reserves the right to terminate the Agreement. Commencement of work prior to final approval of the Agreement is at the risk of the Contractor. The Contractor may not receive any payment for work performed prior to final approval of the Agreement.

3. All performance under the Agreement shall be completed on or before the termination date of the

Agreement.

J. Preference Programs

The Preference and Incentive Programs listed below may be combined but will not exceed a combined total of 15 percent of the Proposal amount or $100,000 per proposal, whichever is less. No proposal price will be reduced by more than $100,000, and all preference and incentive cost adjustments are for proposal evaluation purposes only and do not alter the actual cost offered by the Proposer.

A Small Business (SB)/Microbusiness (MB) and/or a Disabled Veteran Business Enterprise (DVBE) must have current and valid certification through DGS, Office of Small Business and Disabled Veteran Business Enterprise Certification Services (OSDS). Completed certification applications and required support documents must be submitted to OSDS no later than 5:00 p.m. PT on the Final Date for Proposal Submission and OSDS must be able to approve the application as submitted.

For certification and preference approval process information, contact OSDS by telephone at

(916) 375-4940 or access OSDS Internet website at https://www.dgs.ca.gov/PD/About/Page-Content/PD- Branch-Intro-Accordion-List/OSDS/OSDS

1. Disabled Veteran Business Enterprise (DVBE) Program Participation

a. The DVBE Participation Program requirements for this solicitation have been waived. However, SCO is committed to achieving legislatively established goals for the participation of DVBEs and seeks to use certified DVBE business whenever possible. Therefore, SCO requests your voluntary participation in reporting any certified DVBEs, including yourself, that will be used in the performance of this Agreement.

b. DVBE must have current and valid certification through DGS OSDS. Completed certification applications and required support documents must be submitted to OSDS no later than 5:00 p.m.

PT on the Final Date for Proposal Submission and OSDS must be able to approve the application as submitted.

c. For certification and preference approval process information, contact OSDS by telephone at (916) 375-4940 or access OSDS Internet website at https://www.dgs.ca.gov/PD/About/Page-Content/PD- Branch-Intro-Accordion-List/OSDS/OSDS

2. DVBE Incentive

Firms that are DVBEs or are voluntarily utilizing DVBE subcontractors can have an incentive applied based on their level of DVBE participation identified in the proposal response. The DVBE Incentive is for proposal computation purposes only and is only applied to responsive proposals from responsible proposers committing to DVBE participation. Information and instructions on the DVBE Incentive are found at: https://www.dgs.ca.gov/- /media/Divisions/PD/OSDS/Certification/DVBE/DVBEProgramRequirements.pdf?la=en&hash=FBCA25

7A3ED083F3DBB85ECEEB37013CBCF0545C

A DVBE must perform a Commercially Useful Function in the performance of the Agreement as defined in Military and Veterans Code (MVC) 999 (B).

The incentive shall be applied as follows:

DVBE Participation Level Incentive Applied

1.0 - 1.99% 1%

2.0 – 2.99% 2%

3.0 – 3.99% 3%

4.0 – 4.99% 4%

5.0% OR MORE 5%

a. The incentive is subject to a minimum of one (1) percent and a maximum of five (5) percent.

Proposals with DVBE participation of more than five (5) percent will be calculated with a five (5) percent incentive.

b. A signed Disabled Veteran Business Enterprise Declarations DGS PD 843 must be submitted with the Proposal response. The fill and print form is available at this link:

https://www.documents.dgs.ca.gov/dgs/fmc/gs/pd/pd_843.pdf. The form must be completed if a proposer is a DVBE or subcontracts to a DVBE.

c. The DVBE Incentive is computed from the total possible proposal score.

d. Application of the DVBE incentive CANNOT displace a California Certified Small Business.

e. Contractor understands and agrees that should award of this contract be based in part on their commitment to use the Disabled Veteran Business Enterprise (DVBE) subcontractor(s) identified in their proposal , per Military and Veterans Code 999.5 (e), a DVBE subcontractor may only be replaced by another DVBE subcontractor and must be approved by the Department of General Services (DGS). Changes to the scope of work that impact the DVBE subcontractor(s) identified in the Proposal and approved DVBE substitutions will be documented by agreement amendment.

f. Failure of the Contractor to seek substitution and adhere to the DVBE participation level identified in the Proposal may be cause for agreement termination, recovery of damages under rights under rights and remedies due to the State, and penalties as outlined in M&VC § 999.9, Public Contract Code (PCC) § 10115.10, or PCC § 4110 (applies to public works only).

g. If the awarded contractor has a certified DVBE perform an element of work for the Agreement, within 60 days of expiration of the Agreement, the awarded contractor shall complete and submit to SCO a Prime Contractors Certification -…