Description
The Department of Higher Education (DHE) seeks an independent auditor or financial‑consulting firm to provide supplemental financial‑assessment and advisory support services for its Financial Assessment and Risk Monitoring (FARM) program, which monitors private higher‑education institutions for financial health and closure risk. The contractor will review high‑risk institution data, evaluate DHE’s screening methodology, assess risk‑mitigation plans, and provide ongoing consultation through November 2026 – December 2027.
• Review and analyze audited statements, ARFEs, loan documents, real‑estate appraisals, and other financial records for “high‑risk” colleges.
• Evaluate and recommend improvements to DHE’s 12‑factor financial‑screening model.
• Produce written assessments of each institution’s ability to sustain an 18‑month teach‑out and maintain required reserves.
• Deliver hourly consulting support and develop training/webinar materials for institutional leadership.
• Ensure strict confidentiality and compliance with state statutes and contractual terms.