27 CAR § 92-305 – Project funding

(a) In all D-B projects, the Arkansas Department of Transportation should identify funding sufficient to support the project, considering total project cost as well as cash flow requirements, prior to the initiation of the procurement process.
(b) If sufficient funding is not committed prior to the initiation of the procurement process, it should certainly be completed before short-list proposers are required to submit their proposals.
(c) The short-list proposers will expect to see evidence in the RFP that the department has identified committed funding, and they will view insufficient funding as a major risk to the project and their participation in the procurement process.