R3 Grant Financial Services Advance Pay

The State of Illinois is soliciting financial services through a Request for Quotation (RFQ) process to support the Restore Reinvest Renew (R3) Grant Program's advance pay grantee analysis function. This procurement, posted on May 12, 2026, with a due date of May 19, 2026, seeks qualified financial services providers to manage advance payments to program grantees and provide comprehensive financial administration services. The selected vendor will be responsible for invoice processing, payment reconciliation, fund allocation tracking, and financial reporting to ensure proper utilization of advance payments by participating grantees. Key deliverables include maintaining audit-ready records of all advance payments, reconciling advance payments with approved project expenses, tracking compliance with grant guidelines and regulatory requirements, and providing detailed financial documentation throughout the grant period. Required qualifications include demonstrated expertise in grant administration, financial management, advance payment processing, and experience with similar grant programs. Evaluation criteria focus on cost efficiency, vendor experience with comparable grant programs, financial management capabilities, and the ability to establish robust financial controls and compliance monitoring systems. Respondents must meet all standard certifications and comply with Illinois state and federal regulations related to civil rights, environmental protection, labor standards, and procurement practices as outlined in the standard certification forms.

The solicitation documentation does not specify particular set-aside designations, disadvantaged enterprise restrictions, or incumbent vendor information; however, all responding organizations must complete the State of Illinois standard certifications and comply with the State's Standard Terms and Conditions (Version 23.2) governing general services contracts. Vendors are required to maintain General Commercial Liability insurance of $1,000,000 per occurrence and $2,000,000 annual aggregate, along with appropriate auto liability and workers' compensation coverage. All records must be maintained for three years following final payment, or five years if federal funds are utilized. The State of Illinois retains sole ownership of all work product created under the contract and reserves the right to terminate the agreement for convenience with thirty days' written notice or for cause immediately. No specific award value or budget range is identified in the available procurement documentation; pricing structure and contract terms are to be determined through the quotation responses submitted by qualified vendors during the RFQ process.