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City of Everett 01 29 73 - 2 <br /> <br /> <br />01 29 73 - 2 SCHEDULE OF VALUES <br /> <br />A. Maintain Schedule of Values as basis for supporting Application for Payment amounts <br />requested for each progress payment. <br />B. Correlate corresponding items listed by Schedule of Values line items with other <br />required administrative schedules and forms, including: <br />1. Contractor's Construction Progress Schedule. <br />2. Application for Payment forms, including Continuation Sheets. Correlate <br />Schedule of Values line items to that listed by Application for Payment: <br />a. Correspond to indirect costs and margins on actual cost. <br />b. Make amounts for total coast and overhead and profit complete and <br />proportionate. <br />c. Include overhead and profit as a single line item. <br />3. List of subcontractors. <br />4. List of principal suppliers and fabricators. <br />5. Schedule of submittals and list of products. <br />C. Use as basis for determining dollar value amount for each work activity and component <br />of work for duration of Project. <br />D. Make Scheduled of Values total sum equal to current Contract Sum. <br />E. Round-off figures to nearest dollar amount. <br />F. Identify Schedule of Value line items by corresponding Section Titles in Project Manual <br />Table of Contents. <br />G. Break down major portion of work by areas, disciplines, phase, systems, or as <br />appropriate for ease of review. <br />H. For work that exceeds 1 percent of Contract Sum, break out separate line items <br />according to major work activities, components, products, or operations. <br />1.6 CONTENT <br />A. Identification: Include the following Project identification on the Schedule of Values: <br />1. Project name and location. <br />2. Owner's name. <br />3. Name of the Architect / Engineer. <br />4. Project number. <br />5. Contractor's name and address. <br />6. Date of original submittal. <br />7. Date of revised submittals. <br />B. Work Activities: Indicate Cost Values for labor, material, equipment, and Contractor's <br />overhead and profit, and Total Cost Value for each line item.