Office of the Illinois State Treasurer
Judy Baar Topinka
Request for Proposals
Auditing Services for the Unclaimed Property Division
May 19, 2005
The Office of the Illinois State Treasurer ("Treasurer") is issuing this Request for Proposals ("RFP") to provide professional auditing services for the Unclaimed Property Division.
Audit services are needed to bring holders of unclaimed property into compliance with the Illinois Uniform Disposition of Unclaimed Property Act (“Act”) (765 ILCS 1025/1 et seq.) and corresponding Administrative Rules, which direct holders of unclaimed property to report and remit abandoned property to the State of Illinois. The successful Contractor(s) must, upon the conclusion of an audit, make a representation to the Treasurer that, as a result of the report, the entity is in compliance with the Act and its associated Administrative Rules.
The Treasurer reserves the right to award multiple contracts for Contractors deemed to be best qualified to provide the services requested under this RFP at a fair and reasonable price.
The Treasurer plans to contract with a Contractor(s) to provide these services for a period beginning July 1, 2005 and continuing through June 30, 2009.
2.0 Audit Services
2.1 Scope of Work. The Contractor shall identify, and collect from persons, firms and entities (hereinafter called "holders") which are holding or in possession of unclaimed property subject to reporting and delivery under the Act. In conjunction with the identification and collection of unclaimed property the Contractor shall:
(a) Audit and process records of unclaimed property obtained from holders and/or their agents;