Township Council Meeting — Packet

State of Neto Jersey DEPARTMENT OF TRANSPORTATION P.O. Box 600 Trenton, New Jersey 08625-0600 PHILIP D, MURPHY FRANCIS K. O’°CONNOR Governor Commissioner TAHESHA L. WAY Lt. Governor July 9, 2025 David Black, CFO STV Incorporated 205 West Welsh Drive Douglassville, PA 19518 Dear Mr. David Black: Based on our review of STV, Incorporated’s submitted Consolidated Schedule of Direct Labor, Fringe Benefits and General Overhead for the year ended September 30, 2024, we recommend overhead rates of 125.22 percent be used for construction inspection projects and 141.48 percent be used for all other projects for funding purposes on future contracts with the Department. Additionally, 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 rates of 0.10 percent should be used for construction inspection projects and 0.50 percent should be used for all other projects. In addition, the overhead rates proposed on this overhead letter expire on April 1, 2026. 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 with the firm is responsible for determining the acceptability of the overhead statement. If you have any questions, feel free to contact Naitik Parikh at (609)-963-2347 or at Naitik.Parikh@dot.nj.gov. Sincerely, 3 — 7 CnINLLE Richard Temmer Manager, Bureau of External Audit NP “IMPROVING LIVES BY IMPROVING TRANSPORTATION” New Jersey Is An Equal Opportunity Employer « Printed on Recycled and Recyclable Paper