13.15.1 Actual Costs

A. Actual costs are all costs paid by the General Contractor under the Construction Contract for completion of the project, and to which the General Contractor certifies using form HUD-92330A.

1. Include actual costs paid in cash, or to be paid in cash (such as items of delayed completion), within 45 days after the date of the substantial completion, for labor, materials, equipment, subcontract work, general requirements (job overhead), fees, and general overhead. Also include amounts estimated for any items requiring an escrow.

   • General Requirements may include salaries of clerical staff for time actually spent at the project site.

• 1. Prorating of annual salaries on a percent basis is not permitted.
• 2. Salaries of executives may not be included in General Requirements. Such salaries are included in General Overhead.

• General Overhead includes only the amount of the accepted Schedule of Values in form HUD-2328.

  • 1. Form HUD-2328 may be adjusted by the effect of approved change orders.
  • 2. Itemization is not required.

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Chapter 13 Cost Certification 13.15 Review of Contractor’s Cost Certification

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2. Kickbacks, rebates, adjustments, discounts, or any other devices which the contractor may have received, or is entitled to, must be deducted from actual costs.