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Construction
Definition of Contracts Included in the Cost and Time Quarterly Reports
Contracts included in the quarter reports are those contracts that have been completed during the quarter being reported and are of contract types Construction, Design Build Contracts and Lump Sum Contracts. Contracts not included are Maintenance Contracts), Renewable Contracts, Push Button Contracts and Emergency Contracts. “Completed” is defined as contracts, where the final estimate was completed, all known claims were settled, and documentation was “passed” to the Comptroller’s Office for final payment to the contractor. In most cases, the physical project has been completed for some time and the public has been enjoying its benefits.
