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Iowa State University is seeking proposals for consulting services to review and assess its university budget model and related financial services. The selected contractor will be expected to analyze financial data, evaluate revenue and cost allocation methodologies, assess incentive structures, benchmark against peer institutions, engage with stakeholders, and provide recommendations for improvement. Deliverables include a project work plan, interim briefing, draft report, final report, and an executive presentation. Proposals must include a detailed quote, supplier qualifications, project team qualifications, project approach, and a rate card. The estimated project start date is July 2026, with final deliverables due by December 11, 2026. Onsite visits for stakeholder engagement are required. Payment will be based on deliverables, with no upfront payments. Questions are due by May 14, 2026, and responses are due by May 28, 2026. All bid responses must be submitted online via ISUBid.
The final deliverables for the project are due by December 11, 2026.
The bid notice states that Iowa State University will not pay any amounts upfront for services and prefers to base the payment schedule on the project's deliverables, though other options may be considered.
The evaluation of this RFP/RFQ may be based upon, but not limited to: relevant experience and expertise working with higher education finance, quality and feasibility of proposed approach, qualifications of the project team, cost and overall value, value added services, and exceptions taken to ISU general terms and conditions.
The awarded supplier must have prior experience leading consulting efforts for similar projects with higher education budget model reviews.
There will be some required onsite visits for stakeholder and leadership engagement for this project.