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Illinois Administrative Code (Last Updated: March 27, 2024) |
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TITLE44. GOVERNMENT CONTRACTS, GRANTMAKING, PROCUREMENT AND PROPERTY MANAGEMENT |
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PART650. PREQUALIFICATION OF CONTRACTORS, AUTHORIZATION TO BID, AND SUBCONTRACTOR REGISTRATION |
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SUBPARTA. PREQUALIFICATION |
§650.210. Computation of Financial Rating
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The Department will use the financial data required by Sections 650.180, 650.190, and 650.200 of this Part to determine an applicant's financial rating by means of the formula set forth below. If the rating determined by the formula results in a negative value, the applicant will not be prequalified.
a)
Total Current Assets
$
(1)
b)
Discounted Assets
$
(2)
c)
Net Current Assets
(line 1 minus line 2)
$
(3)
d)
Current Liabilities
$
(4)
e)
Allowable Net Current Assets
(line 3 minus line 4)
$
(5)
f)
Total Allowable Real Estate
$
(6)
g)
Total Allowable Equipment
$
(7)
h)
Total Allowable Net Current Assets,
Real Estate and Equipment
(line 5 plus line 6 plus line 7)
$
(8)
i)
Multiplication Factor
(if line 8 is negative to $200,000 use 10)
(if line 8 is between $200,001 and $300,000 use 11)
(if line 8 is over $300,001 use 12)
10, 11 or 12
(9)
j)
Maximum Financial Rating
(line 8 x line 9 and round table nearest thousand)
$
(10)