Independent Financial Viability Assessment for Compassionate Use Program Providers

The Texas Department of Public Safety is requesting qualifications for financial viability assessment services for the Texas Compassionate Use Program (low-THC cannabis dispensing), with responses due June 12, 2026 and anticipated award on that same date.

Respondents must hold current CPA licensure; Certified Fraud Examiner (CFE) credentials are preferred. The scope encompasses four phases applied to conditional licensees: document review of approximately 40,000 financial records (audited and unaudited statements, bank statements, capital commitments, debt agreements, revenue projections, operational budgets, and tax returns); financial analysis covering liquidity, working capital, cash flow, debt ratios, capital adequacy, burn rate, and growth-funding assessments; risk assessment with financial risk ratings and operational sustainability evaluations; and reporting deliverables including individual assessment reports, executive summaries, comparative risk rankings, and recommendations for monitoring and mitigation.

Respondents must demonstrate relevant experience in the cannabis industry or similarly regulated industries, with at least one completed engagement within the past five years. Contractors must disclose any past or current involvement with cannabis organizations, conflicts of interest, and disciplinary actions within the past five years. Project personnel with physical or logical access to DPS property or data must pass a fingerprint-based criminal history background investigation at the contractor's expense.

The contract term is five years from the effective date, with DPS retaining the right to extend for up to an additional six-month period. The contract operates on a no-minimum, as-needed, as-requested basis with no guaranteed compensation. Pricing is not a factor in selection and will be negotiated following DPS's identification of the preferred provider; DPS will renegotiate if proposed pricing does not represent best value. A mandatory pricing schedule covers three engagement tiers (small: 1–10 providers; medium: 11–20 providers; large: 21–30 providers) across the five-year term. Contractors must submit financial rating information (audited financial statements for two prior years, Dun & Bradstreet reports, or alternative statements compiled by independent CPAs) within 120 days after the end of their fiscal year. Insurance coverage in types and amounts customary to the industry or as determined by DPS is required. All work products, data, and intellectual property are exclusive property of DPS.