CERTIFIED WAGE RATE FORM (Required Format) Consultant Name: ABC INC

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CERTIFIED WAGE RATE FORM

(Required Format)

Consultant Name: ABC INC

Job Classification Personnel Raise Date Current Salary Percent

Wage Rate at

Mid-Point of

Contract

PROJECT

ADMINISTRATOR

JOE BLACK

BOB BLUE

Work Activities:

2/01/21

2/01/21

20.00

19.00

2%

2%

AVERAGE HOURLY RATE = $19.50

EFFECTIVE ESCALATION FACTOR =

ESCALATED AVERAGE HOURLY RATE =

SR. INSPECTOR

ALICE GRAY

POLLY PURPLE

Work Activities:

2/01/21

2/01/21

17.50 2%

16.50 2%

AVERAGE HOURLY RATE = $17.00

EFFECTIVE ESCALATION FACTOR =

ESCALATED AVERAGE HOURLY RATE =

Secretary/Clerical Work Activities:

AVERAGE HOURLY RATE = $

EFFECTIVE ESCALATION FACTOR =

ESCALATED AVERAGE HOURLY RATE =

* Include one (1) escalated average rate for each job classification of the mid point of the contract.

I certify that the above information is current and accurate as of this date.

BART SIMPSON

_____________________________________

Print Name

BART SIMPSON

_____________________________________

Signature

_______2-22-22________________________

Date

How to arrive at the *Wage rate at Mid-Point of Contract.

Count the number of months from the Notice to Proceed Date to the date of raise indicated in the

Two Year Salary History.

Divide the number by 24 (the length of the contract) and multiply by 1.

The next figure is a full 12 months divided by 24 months times 1 plus the escalation rate being used.

The remaining months are divided by 24 months times the previous calculated rate multiplied by itself.

Add all 3 calculated figures together and multiply this escalation factor times the present salary of the position to arrive at the final escalated salary rate.

Example: Number of months from NTP to date of raise is 9 months.

9/24 x 1 = 0.375 12/24 x 1 + 5% escalation = 12/24 x 1.05 = remaining months = 3

3/24 x (1.05 x 1.05) = 3/24 x 1.1025 = 0.1378

0.375 + 0.525 + 0.1378 = 1.0378, which is the escalation factor.

$10.00 per hour present salary rate x 1.0378 = $10.38 escalated salary to be used for the contract.

If there is more than one rate per classification, add all of them and divide by the number of rates for an average figure. If Anniversary Raise dates are used, calculate each one separately. If the raise date is at the beginning of the month, don’t count that month. If the NTP is at the end of the month, don’t count that month.

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