Township Council Meeting — Packet

State of New Jersey DEPARTMENT OF TRANSPORTATION P.O. Box 600 Trenton, New Jersey 08625-0600 PHILIP D. MURPHY Governor DIANE GUTIERREZ-SCACCETTI Commissioner SHEILA Y. OLIVER Lt. Governor August 22, 2023 Mr. Michael J. Buoncore Sr. Vice President/CFO Greenman-Pedersen, Inc. 325 West Main Street Babylon, NY 11702 Mr. Buoncore: Based on our review of Greenman-Pedersen, Inc.’s submitted Schedule of Burden, Fringe, Overhead and Direct Labor for the year ended December 31, 2022, we recommend overhead rates of 129.45 percent should be used for construction inspection projects and 167.83 percent should be used for all other projects for funding purposes on future contracts with the Department as well as your firm’s settle-up schedules. In addition, and in accordance with current Department policy, if FCCM is specifically identified in the cost proposals relating to the contract under which the cost is to be claimed, the audited FCCM rate of 0.15 percent should be used for construction inspection projects and 0.19 percent for all other projects, respectively. The combined overhead rate of 148.65 percent and FCCM rate of 0.17 percent may be used for settle-up schedule purposes, only going forward for contracts funded with your combined rate. The overhead rates proposed on this overhead letter expire on July 1, 2024. These rates are subject to audit verification. Our acceptance of these rates does not extend beyond contracts with the New Jersey Department of Transportation. Any other entity contracting the firm is responsible for determining the acceptability of the overhead statement. If you have any questions, feel free to contact Dennis Show at (609) 963-2379. Sincerely, Richard Temmer Manager, Bureau of External Audit