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Final Estimates

After completion of contract and before final payment write to the contractor.

They are to submit 3 copies with final estimate:

  1. Certification of payment of costs
  2. Release from Surety
  3. Affidavit on compliance with P & S.

We have 30 days after the final inspection to get all bills to OPC for reimbursement.

List of things that should be done when the job completed:

  1. Letter to OPC (Certification Letter) - All Sewer Jobs
  2. O&M Manual

Check For Signatues

The "Item Numbers" on the Bid Proposal must correspond to the "Item Numbers" on the estimate.

Check the materials in storage. This will be checked by the Resident Project Representative. SEE EXAMPLE SECTION (Page 97) This must be checked against the invoices. All materials must be on the invoice, check description and unit price. The unit price on the invoice must be exactly the same price as the contractor shows on his materials in storage inventory. Verify the quantities on the storage list against the contract quantities.

Enter the "quantities installed this estimate" under the column of the appropriate estimate. This will automatically calculate the "Quantity To Date" and the "Value To Date". This also automatically calculate the Total Work, Subtotal and Due This Estimate. You must enter the Material Stored Amount, Retainage and Less Previous Payments. There will not be a "Materials In Storage Amount" figure or a "Retainage" figure.

Check the breakdown on the figures. SEE EXAMPLE SECTION (Page 98)

To Prepare For Transmittal:

  1. Stamp and Prepare For Engineer Approval and Execution
  2. List In The Project Book (Be sure that the Total Accumulated Amount = The Total Contract Amount with All Change Orders)
  3. Do A Letter of Transmittal to the Owner - Mayor
    • CC:
      • Attorney (w/enclosures)
      • Contractor (w/enclosures)
      • Administrator (w/enclosures)
      • Resident Project Representative (copy-estimate)
      • Clerk (w/enclosures) - Only Some Towns

This Letter Should Also Transmit the Following:

  1. A release from the Surety;
  2. A certification by the Contractor that all bills for materials, wages due for labor and other costs of the work have been paid in full (Certification of payment of costs);
  3. A notarized affidavit by the Contractor that the work has been completed in full compliance with the contract, plans and specifications (Affidavit on compliance with plans and specifications). This letter should also give an acceptance date, which will be the completion date on Summary Change Order. We should put a reminder in our calendar for eleven (11) months after the acceptance and tell the Engineer so they can do the inspection before the warranty runs out.
  4. The approved copy of the estimate goes in the front of the project book; the work copy of the estimate goes in the back of the project book and the file copy of the letter is filed in the Contractor's file on the left-hand side. SEE FORM LETTER SECTION (Page 89)
  5. Put the letter in the envelope and put all envelopes in the project book; list the job #, client's name and note "FINAL" on a post-it note on the front of the project files.

The Engineer shall process a final estimate of the work done under this Contract and the value thereof. Such final estimate shall be submitted to the Board within ten (10) days after the preparation has been authorized as aforesaid and the Board shall within forty-five ( 45) days after said final estimate is made and certified, pay the entire sum so found to be due hereunder, after deducting all amounts to be kept and retained under any provisions of this contract and securing any required approvals from Federal and State agencies.

By 50% completion of the project, send in the O & M Manual for draft. By 90% completion of the project, send in the modified user charge.

We are required to check and approve monthly estimates from all prime contractors on the project. The estimates should be arranged to show separately OPC eligible and non-eligible work. (Breakdown sheet) Send to OPC. However, a copy of all estimates must be available for OPC inspection at any time and the current estimates must be submitted for the first payment request and when construction is 50%, 80% and 90% complete. All loan payments are subject to audit.