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Financial Statement Analysis

The Office of Comptroller Operations provides financial analysis services on behalf of agencies that want to analyze a supplier’s financial stability as part of a request for proposal/request for quote (RFP/RFQ) evaluation. The financial analysis includes an examination of the entity’s financial statements and the calculation, analysis, and comparison of various financial ratios to industry standards and trends. Upon completing the analysis, Comptroller Operations provides a report, including key financial information, to the agency to assist in determining if an entity should be included or excluded from the procurement process for financial reasons or if some form of security should be requested. The agency is ultimately responsible for making these determinations.

How do I request financial analysis services?

Requests for financial analysis services require the completion of an RFP Financial Analysis Submittal Form.  Requests that do not use the updated RFP Financial Analysis Submittal Form will be returned and not completed until the agency submits the form.

What information am I required to provide with my request?

Agencies must provide the entity’s complete financial statements for the number of years stipulated in the RFP/RFQ as well as the entity's Dun & Bradstreet Universal Numbering System (DUNS) number. In addition, agencies should provide a brief description of requirements of the RFP/RFQ (i.e., deliverable-based, fixed price, no payments for first 6 months, a timeline for milestones, etc.).

How long will it take to receive the results?

Comptroller Operations attempts to provide a written response and supporting analytical details within 15 business days of its receipt of the request.

What response will I receive back from Comptroller Operations as a result of the financial analysis?

Comptroller Operations will provide a risk score of 1-5 (5 being the riskiest) in accordance with the most recent policy.  The agency will be provided information related to any risks identified with each supplier. The agency is ultimately responsible for making the determination to include or exclude an entity or to request some form of security.

Please note that a risk score will only be provided when appropriate financial information has been submitted.  In the event adequate information has not been provided, the agency will be notified of the inability to perform the financial analysis.