Prequalification Changes - Review vs. Audit



Notice from the Office of Contracts

August 26, 2011

Financial Statement and Financial Audit Requirements Change

Please know that there was a recent change in law affecting the financial statement and financial audit requirements for ODOT’s prequalification for construction contracts.  Section 5525.04 of the Ohio Revised Code now requires an independent financial audit in order to obtain a Certificate of Qualification for an amount of 5 million dollars or more.  An independent financial review is required in order to obtain a Certificate of Qualification for an amount less than 5 million dollars.  Prior to this change in law the trigger for an audit was 2 million dollars. 

Please review your Certificate of Qualification with ODOT.  If you determine this change could positively impact your company’s prequalification amount and would like an updated Certificate of Qualification please make the request via email to diane.hupp@dot.state.oh.us. In order to make the process as  smooth as possible please indicate in the email subject, “Prequalification Dollar Amount Update” and request an updated Certificate of Qualification in the body of the email.  We will review your request and so long as this change in law does apply to your company we will issue an updated Certificate of Qualification reflecting the revised dollar amount.   

If you have any questions, please contact Diane Hupp at 800-461-2823.  Thank you.

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