SGAL RFP - Attachment D.docx

ATTACHMENT D

FINANCIAL STABILITY REVIEW

A. Financial Documentation: Vendor is expected to submit the following to demonstrate its financial stability:

1. A current and valid W-9 form and a copy of the confirmation that the vendor has filed a Substitute W-9 form with the Florida Department of Financial Services.

2. A sample invoice. To ensure accurate payments, SGAL requires that the invoices remit to name precisely matches the information provided on the vendor’s W-9 and Substitute W-9 form, particularly when a DBA (Doing Business As) name is listed.

3. One of the following (a, b, c, or d)

a. Documentation of an investment grade rating from a credit rating agency designated as a nationally recognized statistical rating organization by the United States Securities and Exchange Commission, such as Moody’s, Standard & Poor’s, and Fitch Ratings; or

b. Attestation Letter For a vendor with annual revenues exceeding $1 billion, a written declaration issued by the Chief Financial Officer or controller consistent with the following for as proscribed by Florida Statute:

c. Audited Financial Statement for the most recent fiscal year (full 12-month period or the period the entity has been in existence if less than one year), accompanied by the audit report of an independent certified public accountant. The financial statements should include a balance sheet and income statement and clearly identify the basis of accounting (cash or accrual) on which the financial statements are reported; or

d. Other Financial Statement for the most recent fiscal year (full 12-month period of the period the entity has been in existence if less than one year), accompanied by one of the following which are sequenced from highest level of assurance to lowest. The financial statement should include a balance sheet and income statement and clearly identify the basis of accounting (cash or accrual) on which the financial statements are reported.

i. Accompanied by the review report of an independent certified public accountant

ii. Accompanied by the compilation report of an independent certified public accountant

iii. Otherwise prepared by a certified public accountant

iv. Prepared by vendor’s internal management

v. Consolidated financial statements of the vendor’s parent entity. If the vendor uses this option to validate financial activity, a parental guaranty assuring the parent entity will financially support the vendor throughout the term of the prospective contract will be required prior to contracting.

B. Financial Review Documentation: SGAL will assess the Financial Stability of the vendor and make a PASS/FAIL determination. Failure to submit the documentation requested above may result in a “Fail” determination and ineligibility for contract award under this RFP

C. Alternative Documentation and Clarifications: If the vendor has not demonstrated Financial Stability in accordance with Options 1a through 1d above, then SGAL, in its discretion, may request alternative or additional documentation, or assurances, which would assist in demonstrating Financial Stability, including but not limited to

1. Copies of tax returns

2. Interim and supporting accounting reports

3. Banking records

4. Affiliated company financial reports

5. A performance bond for the duration of the Contract

D. Confidential Information: If vendor is providing financial information that it considers confidential and protected from disclosure under Florida Public Records Law, the Vendor must clearly identify and submit it in accordance with the Public Records Section 5.5 (page 31) of the RFP Solicitation document.

SUBMISSION REVIEW

☐ W-9

☐ One of the following:

1. Documentation of investment grade rating; or

2. Attestation letter (Only for vendors with annual revenues exceeding $1 billion); or

3. Audited Financial Statements for the most recent fiscal year including a Balance Sheet and Income Statement; or

4. Other Financial Statement for the most recent fiscal year including a Balance Sheet and Income Statement

☐ Redacted Copy of Confidential Information (if applicable) – See Section 5.5 of the RFP Solicitation image1.jpg