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Monthly Estimates

All payrolls must have been checked and be correct before an estimate can be approved.

If work has been done each month, an estimate will be submitted monthly and must be in our office (CORRECT) by the 25th of each month. An updated progress schedule must accompany each estimate.

If the 25th falls on a weekend or holiday, the estimate MUST BE in our office the last working day BEFORE the 25th.

When the estimates come in, give a copy of it to the Resident Project Representative to be checked for general accuracy.

On the 1st Estimate (not the ones that have "materials in storage" only), pull the Contract.

Check the following things to make sure that they are correct on the estimate:

  1. Quantities
  2. Unit Prices
  3. Total Price

The "Item Numbers" on the Bid Proposal should 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.

Find the estimate in excel on the computer. 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 calculates the Total Work, Subtotal, Retainage and Due This Estimate. You must enter the Material Stored Amount, Retainage and Less Previous Payments.

Check the breakdown of figures.

  • SEE EXAMPLE SECTION (Page 98)
  • If all figures check out - we are ready to approve.

To Prepare For Transmittal:

  1. Stamp and Prepare For Engineer Approval and Execution
  2. List In The Project Book
  3. Do A Letter of Transmittal to the Owner - Mayor
    • SEE FORM LETTER SECTION (Page 89)
    • CC:
      • Attorney (w/enclosures)
      • Contractor (w/enclosures)
      • Administrator (w/enclosures)
      • Resident Project Representative (copy-estimate)
      • Clerk (w/enclosures) - Only Some Towns
  4. The approved file copy of the Estimate goes in the front section of the project book; the work copy of the estimate goes in the back section of the project book and the file copy of the letter goes in the contractor's file on the left-hand side.
  5. Put the letters in the envelopes and put all of the envelopes in the project book; list the job #, the client's name, percentage complete on a "post-it" note on the front of the project files.