105 Ind. Admin. Code 11-1-33
Current through November 6, 2024
Authority: IC 8-23-2-6
Affected: IC 8-23-10
Sec. 33.
"Unearned work" means the total dollar value of work contracted for but not performed. The value of items purchased and delivered, but not installed, is considered unearned work. For a specific department contract, the value of unearned work shall be based upon the original amount bid, plus the value of items added by approved change orders, minus items deleted by approved change orders, minus the most recent progress estimate submitted by the department's project engineer/supervisor, minus this person's determination of items performed subsequent to the progress estimate but prior to the point in time for which unearned work is calculated.
105 IAC 11-1-33