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<br />. <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />MAY-31-2005 17:21 FROM: <br /> <br />..;056692165 <br /> <br />P.7 <br /> <br />PISTORINO & ALAl\tf CONSULTING ENGINEERS, INe. <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31, 2004 <br /> <br />NOTE 5 - PREMIUM OVERTIME <br /> <br />The Company treats premium overtime as a direct cost of the contract. Premium overtime is not <br />included in the direct expense costs used to calculate the direct expense percentage nor is it included in <br />the indirect costs used to determine the overhead percentage. <br /> <br />NOTE 6 - FACILITIES CAPITAL COST OF MONEY <br /> <br />The Company's audited facilities capital cost of money for the year ended December 31, 2004 is <br />0.591 %. The maximum FCCM rate allowed by the State of Florida Department of Transportation is <br />1.30% for contracts entered into before October 1,2003. <br /> <br />NOTE 7 - SUMMARY <br /> <br />The following tabulation summarizes the allowable overhead rates incurred by the Company for the year <br />ended December 31,2004: <br /> <br />Description <br /> <br />Home Office <br /> <br />Field Office <br /> <br />Fringe Benefit Rate <br />General Overhead Rate <br /> <br />37.68% <br />144.70% <br /> <br />37.67% <br />62.26% <br /> <br />Combined Rate <br /> <br />182.38,% <br /> <br />99.93% <br /> <br />The current maximum combined overhead rate allowed by the State of Florida Department of <br />Transportation in 1 68%for Home Office and 120% for Field Office for contracts entered into. before <br />October 1,2003. <br /> <br />4 <br />