Firms on the Roster annually submit a Consultant Financial
Report to the department no later than five months after the end of their
fiscal year. The deadlines for submitting Consultant Financial Reports have
been extended to 7 months after the consultant firm's fiscal year-end for firms
with fiscal years ending 10/1/19 through 6/30/20. For example, the
Consultant Financial Report for a firm with a calendar 2019 year-end is not due
WisDOT will be accepting submission of Consultant
Financial Reports in electronic format. The forms as instructed
below may be emailed to the WisDOT Audit Supervisor at DOTExternalAudit@dot.wi.gov
One file in PDF format is acceptable. Email attachments must be limited
to 25MBs. Please contact the Audit Supervisor regarding any delivery
issues or for an alternative method of electronic delivery.
The Consultant Financial Report facilitates the
establishment of an indirect cost overhead rate and provides information used
during contract negotiation and subsequent audit processes.
Firms not on the Roster must submit a Consultant Financial
Report using the most recent financial information available before being added
to the Roster.
Firms not currently on the Roster but that may have
provided the Consultant Financial Report for the most recently completed fiscal
year should contact the Audit Supervisor at DOTExternalAudit@dot.wi.gov
to determine if updated financial information is needed.
The report may also be required for consultants who are
not on the Roster as a condition of selection.
Contract provisions may also require annual submittal of
the Consultant Financial Report when consultant’s compensation is based on
Failure to file the report or filing of an inaccurate or
incomplete report will result in the consultant being ineligible for selection
until such time as accurate and complete information is provided.
Submittal of forms
DT1865 Consultant financial report includes instructions for submitting the Consultant financial report. Do not include the instructions with your submittal.
Do not submit form DT1538 (Consultant report) with your financial information.
Allow extra time for hand delivering documents to Hill Farms State Office Building.
Resources and contacts
New firms (does not include firms created as the result of a merger/acquisition/spin-off of existing firms) should submit the financial report based on pro forma rather than historical data. Firms whose historical data does not represent a complete year of full operation may request permission to use pro forma data for an additional year after startup. Contact the Audit Supervisor at DOTExternalAudit@dot.wi.gov for assistance.
Firms with changes in entity
Firms whose entity changes due to merger, acquisition or spin-off of significant business segments or subsidiaries must submit a Consultant Financial Report within 90 days after the new entity is formed. The report must be based on historical financial information of the entities affected by the transaction resulting in the change. New entities created through a merger or spin-off should use historical financial information of predecessor entities as the basis of pro forma information in the Consultant Financial Report.
When an entity contracting with WisDOT is acquired by another entity, the acquiring entity must submit a Consultant Financial Report for the acquiring entity to be eligible for selection.
When gross revenues of an acquired or spin-off entity exceed 25% of gross revenues of the acquiring/surviving entity, the Consultant must submit a revised Consultant Financial Report reflecting indirect cost and accounting disclosures of the surviving entity within 90 days of the closing of the applicable acquisition/spin-off transaction.
Firms will receive email notification when their financial report has been accepted. Firms may then use the rates submitted on the financial report on WisDOT contract proposals and invoicing on existing contracts.
Only firms receiving formal notification of acceptance may use their submitted rate.
Overhead rates submitted on financial reports are considered unaudited and are subject to review upon contract submittal.