After bidding opens for Round 1 2017 on October 15, 2015, all bidders must submit the required financial documents listed below. Bidders whose financial documents are received on or before the covered document review date (CDRD), November 16, 2015, will be notified if any of the required financial documents below are missing.
- Tax return extract for the most current year filed (must be either a 2013 or 2014 tax return)
- Financial statements that correspond with the tax return extract:
- Income statement
- Balance sheet
- Statement of cash flows
- Current credit report with a credit score (report must contain name and date)
As a reminder, we strongly recommend that the financial statements be compiled, reviewed, or audited by an accounting professional, and that you provide the accounting professional a copy of the Request for Bids (RFB) instructions along with the Required Financial Documents by Business Type Chart to help ensure that you meet all documentation requirements.
Financial statements should be prepared in accordance with generally accepted accounting principles (GAAP). Bidders should be aware that certain specialized accounting software programs and/or applications available on the market may not be compliant with GAAP. It is the bidder’s responsibility to ensure the required financial statements submitted as part of the bid are in compliance with GAAP and the RFB.
Common Mistakes to Avoid:
- Mismatches between financial statements. For instance, the net income on the income statement and the net income on the statement of cash flows do not match.
- Ending cash balance on the statement of cash flows and the ending cash balance on the balance sheet do not match. These two fields must match.
- Balance sheet not balancing. Total assets must exactly match the sum of the equity and liabilities.
- Tax return extract for a different time period than financial statements. For instance, submitting a 2013 tax return with 2014 financial statements.
- Financial statements and tax return extract
sare at different organizational levels. For instance, the submitted financial statements are for the subsidiary while the submitted tax return extract is for the parent company. Please see RFB for more information on parent/subsidiaries.
- Credit report without a name and/or a preparation date.
- Statement of Cash Flows that do not specify whether cash flows are from operating activities, financing activities or investing activities.
- Statement of cash flows that do not contain a cash reconciliation, which contains a beginning cash balance, ending cash balance, and a net increase/decrease in cash.
Use the links below to access detailed financial documents requirements and instructions:
- Request for Bids (RFB) instructions
- Required Financial Documents
- Required Financial Documents by Business Type Chart
- Hardcopy Documents Package Checklist
- Sample Financial Statements
- Covered Document Review Date (CDRD) fact sheet
As a reminder, the Competitive Bidding Implementation Contractor (CBIC) is the official information source for bidders and bidder education. The Centers for Medicare and Medicaid Services (CMS) cautions bidding suppliers about potential inaccurate information concerning the Competitive Bidding Program posted on non-government websites. Suppliers that rely on this information in the preparation or submission of their bids could be at risk of submitting a non-compliant bid.
If you have any questions about the financial document requirements as it relates to your particular situation, please call the CBIC customer service center toll-free at 877-577-5331 between 9 a.m. and 7 p.m. prevailing Eastern Time, Monday through Friday. Hours are extended to 9 p.m. prevailing Eastern Time during the last two weeks of the registration and bidding windows.