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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-31~2006 01:15P FROM: <br /> <br />--. 3056692165 <br /> <br />P.6 <br /> <br />PISTORINO & ALAM CONSULTING ENGINEERS, INe. <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31, 2005 <br /> <br />NOTE 5 - PREMIUM OVERTIME <br /> <br />The Company treats premimu 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 detennine 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 31,2005 is <br />0.630%. 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, 2005: <br /> <br />Description <br /> <br />Home Office <br /> <br />Field Office <br /> <br />Fringe Benefit Rate <br />General Overhead Rate <br /> <br />44.61% <br />138.93% <br /> <br />44.61 % <br />69.30% <br /> <br />Combined Rate <br /> <br />183.54% <br /> <br />113 91 % <br /> <br />The current maximum combined overhead rate allowed by the State of Florida Department of <br />Transportation in 168%for Home Office and 120% for Field Office for contracts entered into before <br />October 1,2003. <br /> <br />4 <br />