A general estimate of costs of any capital construction project shall be determined prior to any specific planning of a given project.
Preliminary estimates on any capital construction project shall be made by the architects and engineers using generally accepted methods of the trade prior to firming the plans and specifications.
When final plans and specifications have been drawn, the architect shall make a final cost estimate which shall be used to determine the basis for acceptance, rejection or negotiation on formal bids received on the project.
Periodic computations shall be made during construction based on approved change orders.
At the completion of a project, the final computation of the total cost shall be made by the architect taking into consideration the original contract amount reduced or increased by all approved change orders.
Adopted September 5, 1967
Revised February 11, 1974
Adoption Date: September 05, 1967
Last Revised: February 11, 1974