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USDA ~ 7:=fi ~Development

United States Department of Agriculture

Rural Development

INSTRUCTIONS FOR USE OF RUS FORM 281

Project Designation - Show "State 500-Loan Letter."

Contract No. - Show the contract number assigned by REA.

Column 1 and 2, "Description of Item" - Show the standard REA letter

designation of the item in the List of Materials and description, respectively, of

each item of material furnished to the contractor (e.g. "oc" Fiber Optic Cable - 4

fibers).

Column 3, "Quantity"- List the total number of each item of material, as shown

by charge-out tickets covering materials issued to the contractor less the number

shown by credit tickets reflecting materials returned. (Quantities are to be

furnished to the engineer by the borrower.

Parts I and II of Tabulation - Divide the tabulation into two parts and list under

Part I only the items of materials specified in the "List of Owner's Materials on

Hand" or in the "List of Materials ordered by the Owner but Not Delivered" in the

Contract. Any additional items of materials, including any materials removed

from existing line and reused in the construction of the project, are to be shown

under Part II. All reused materials are to be grouped under Part II, separate from

new materials by the borrower. This segregation is important in order that

reused materials can be readily identified for the purpose of adjusting loan fund

advances to actual cost of materials furnished under the contract.

Column 4, "Actual Cost to Borrower...;.,Unit Cost" - List the average unit cost

to the borrower for each item of material furnished to the contractor. This

average unit cost for new materials shall be based on the cost for each item

shown on material charge out and credit tickets relating to this construction and

is to be determined by dividing the total cost for each item by the total quantity

furnished. ~The unit costs used to price the tickets should be the average unit

cost shown on stock record cards for the applicable period. (The average nit

cost is to be furnished to the engineer by the borrower.) In Column 4, Part I!, the

reused material referred to in paragraph 3 above are to be priced at the current

value for like items q!ogMlll&~ah&~v~:%.Q,.b.xat/;)~t~~2~!t-&'dJdcars. Web: http://www.rurdev.usda.gov

Committed to the future of rural communities.

"USDA is an equal opportunity provider, employer and lender."

To file a complaint of discrimination, write USDA, Director, Office of Civil Rights,

1400 Independence Avenue, S.W., Washington, DC 20250-9410 or call (800) 795-3272 (VOice) or (202) 720-6382 (TOO).
Instructions for Use of RUS Form 281

Page 2 of2

o Column 5, "Actual Cost to Borrower - Extended Cost" - Show the total cost

of each item of material furnished to contractor. Column 3 times Column 4.

Column 6, Part I, "Amount Chargeable to Contractor - Unit Price" - Show

the unit price specified in the "List of Owner's Materials on Hand" or in the "List of

Materials Ordered by Owner but Not Delivered," included in the construction

contract and not the Bidder's material unit prices. It is suggested that, where the

owner furnishes and the contractor accepts items of materials in excess of the

quantities specified in the "List of Owner Materials on Hand" or in the "List of

Materials Ordered by Owner but Not Delivered," the owner and contractor agree

to use the same unit prices for the excess quantities as those specified for like

items in the lists included in the contract. In Column 6, Part II, the new material

items included are to be charged to the contractor at the prices agreed to by the

owner and the contractor. In Column 6, Part II, the reused material items are to

be charged to the contractor at the prices agreed to by the owner and the

contractor.

Column 7, "Amount Chargeable to Contractor - Extended Price" - Show

the extended amount determined by multiplying the quantity in Column 3 by the

unit price in Column 6. The total amount chargeable to the contractor as

indicated by the total of Column 7 should agree with the total value of all

supporting receipts for materials furnished less credits. Upon final settlement it

should also agree with the total deduction from contractor's invoices for material

furnished.

Column 8, "Net Difference" - Show the difference between actual total cost to

the borrower, Column 5, and the total amount chargeable to the contractor as set

forth in Column 7. The total of Column 8 represents the net difference (plus or

minus) of the cost of material furnished to the contractor.

All basic data used to compile the information shown in this tabulation should be

retained by the borrower in its files for future reference or use by the REA

auditor.

The official signing the final inventory for the borrower and for the contractor

should also sign this tabulation.
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I. MATERIAL ITEMS INCLUDED IN

LIST SET FORTH IN

~NSTRUCTIO~TRA~T(52,

-- SAMPLE

This form to be furnished

by borrowers engineer

-~ 'I.--

'!........-- ,...-/

II

II

II. OTHER MATERIAL ITEMS

FURNISHED BY THE BORROWER

A. New Materials

B. Reused material from existing

system ~

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lnformatlon from

Form 787

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U. S. DEPARTMENT OF AGRICULTURE

RUR~L ELECTRIFICATION ADMINISTRATION

Form Approved

Bu.dget Bureau No. 4O.R2526~4

BORROWER DESIGNATION

TABULATION OF MATERIALS FURNISHED BY BORROWER

[Acsual Cost to Borrower and Amount Chargeable to Contractor}

CONTRACT NO.

REA DESIGNATION

DESCRIPTION OF ITEM

NAME OF ITEM

2

QUANTITY

3

UNIT COST

ACTUAL COST TO BORROWER

EXTENDED COST

4

TOT A L ----------- ...•..

5

AMOUNT CHARGEABLE TO

CONTRACTOR AT CONTRACT PRICE

UNIT PRICE

6

liiiiiiiiiiiliilillliiiii:lliliiliiiiiii

The above tabulation is correct to the best of our knowledge and belief.

NAME OF BORROWER

By DATE PRESIDENT

DATE

DATE

EXTENDED PRICE

.7

NET

DIFFERENCE

8

BORROWER'S ENGINEER

CONTRACTOR

By

REA FORM 281 REV. !5-e'