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ST9302-CS 980807FAX (21~4) 352-3201 ~ ~ TELEPHONE (214) 358-6581 ED BELL CONSTRUCTION COMPANY POST OFFICE BOX 540787 10605 HARRY HINES DALLAS, TEXAS 75354-0787 DALLAS, TEXAS 75220 August 7, 1998 Mr. Jim Ragsdale Purchasing Agent CITY OF COPPELL 255 Parkway Boulevard Coppell, TX 75019 Sandy Lake Road Paving, Drainage and Water System Improvements Project Bid No. ST 93-02 Bidder Qualification Submittal Dear Mr. Ragsdale; As required by Section 4, Qualifications of Bidders, of the Instructions to Bidders of the referenced project, we are submitting the required post-bid package of information. Please f'md attached our Current Projects List, Completed Projects (over $2.0mm) List, List of Available Equipment, and Financial Statement. We believe that these project lists will serve as proof of technical experience as required by Item E of the Qualifications of Bidders Section. We have attached a copy of a property tax invoice as proof we maintain a permanent place of business here at 10605 Harry Hines, Dallas, TX. We have also included a similar contractor's qualifications submittal from our utility contractor, M-Co Construction, Inc., for your review. Please contact us if you need any further information. Sincerely, ELL CONSTRUCTION COMPANY IJOUl Viceftident P.E., Project XC:[~Lee Allison, Engr. Kimley-Hom & Associates, Inc., Suite 1100, 801 Cherry Street, Fort Worth, TX 76102 Ken Griffin, P.E., Director of Public Works City of Coppell, 255 Parkway Boulevard, Coppell, TX 75019 AN EQUAL OPPORTUNITY EMPLOYER Ed Bell Construction Co. Current Projects List Project Description Location Owner Contract Amount % Complete l Est. Compl. Date Tarrant County FM 157 (Cooper Street) Arlington TXDOT - Oppermann $ 2,518,189.00 50% Oct-98 Tarrant County CS (Intersections) Arlington TXDOT - Oppermann $ 849,895.00 55% Dec-98 .Frankford Road Dallas City of Dallas $ 1,458,359.00 37% Dec-98 Street Group 421 Da,~ City of Dallas $ 1,781,311.00 14% Mar-99 Linden, Bsi~e, Calmont and Pershing Strs. Ft. Worth City of Fort Worth $ 788,724.00 30% Sep-98 1997 Phase I Bond Improvements Program Ennis City of Ennis $ 1,857,131.00 98% Sep-98 Cedar Drive & Station Park Allen City of Allen $ 2,048,770.00 91% Sep-98 Collin County FM 544 Wylie TXDOT - Lovil $ 1,014,407.00 40% Oct-98 ::)alias County Loop 354 (Harry Hines) De,~-< TXDOT - Jones $ 14,094,250.00 10% Jun-00 Fai~J-~-~unt Avenue Ft. Worth City of Fort Worth $ 639,241.00 0% F~b-99 Arapaho Road Addison City of Addison $ 3,940,277.00 12% Jun-99 State, Ellis, and Woodside Streets Dallas Post Properties (Da!!es TIF) $ 1,501,654.00 60% Nov-98 Racine Drive 'Dallas City of Dallas $ 933,860.00 0% Feb-99 Hunters V~¢;;' Lane Dallas City of Dallas $ 469,388.00 1% Dec-98 N. Riverside Drive, Phase I Ft. Worth City of Fort Worth $ 1,392,134.00 4% Nov-98 _R!eckburn Street Realignment Dallas City of Dallas (TIF) $ 1,559,981.00 0% Dec-98 Blackburn Street$cape Package Dallas City of Dallas (TIF) $ 936,571.00 0% Mar-99 Curb, Gutter & Sidewalk Replacement Dallas City of Dallas $ 2,349,116.00 0% Nov-99 Ed Bell Construction Company Projects List ($2.0mm +) Project Description Location Owner Contract Amount Completed Dallas County US 175 Dallas TXDOT - Hale $ 2,305,929.00 March-94 Farmers Market Distdct Street Impvts. [3alias City of Dallas $ 10,961,150.00 May-94 Nursery Road Irving City of Irving $ 2,406,550.00 November-94 Navarro County US 287 Corsicana TXDOT - Myers $ 2,917,944.00 March-95 Collin County MH (Colt Road) Piano TXDOT - Lovil $ 2,364,726.00 Apdl-95 Bickers Street, Phase I Da,~-~ City of Dallas $ 3,292,575.00 August-95 Avenue K Piano City of Piano $ 2,255,861.00 September-95 Camp Wisdom Road Duncanville ~Dallas County $ 2,450,530.00 November-95 ;)enton County IH35E (Frankford) Carrollton TXDOT - Jones $ 7,203,925.00 August-96 E. Sixth Street Irving City of Irving $ 2,223,283.00 August-96 Maple Avenue, Phase I De;~;-~ City of Dallas $ 2,681,640.00 September-96 Tarrant County CS (Collins Street) Arlington TXDOT - Opperman $ 3,441,641.00 October-96 Tarrant County MH (B~---ch Street) Ft. Worth TXDOT - Newman $ 3,344,030.00 October-96 Ellis County FM 664 Red Oak TXDOT - Barton $ 3,876,296.00 November-96 Dooley Street Improvements Grapevine City of Grapevine $ 4,323,795.00 November-96 Beckley Avenue, Ph. I Dallas City of Dallas $ 2,630,310.00 July-97 Denton Drive Dallas City of Dallas $ 11,123,801.00 August-97 Collin County CS (Exchange Parkway) Allen TXDOT - Lovil $ 3,749,367.00 May-98 Tarrant County BU287P Mansfield TXDOT - Opperman $ 5,805,976.00 July-98 Ed Bell Construction Company Active Equipment List Equipment Description Quantity Available Caterpillar Motor Grader 5 Caterpillar Wheel Loader 6 Caterpillar Track Loader 1 Caterpillar Hydraulic Excavator 1 Caterpillar D7 Dozer/Ripper 1 3ros Pulvimixer 2 Caterpillar Pulvimixer 2 Bros Pnuematic Roller 3 _ittleford Pnuematic Roller 1 Rex Compactor 3 Loader/Backhoe/Box Blade 3 Motorized Sweeper/Broom 3 International Boom Truck 2 International Form Truck 4 Mack Concrete Mixer Truck 5 Kenworth Concrete Mixer Truck 1 Hagan Concrete Batching Plant 1 Gomaco Slipform, Grade Trimmer 3 Water Truck 4 Other Misc Rollers, Saws, Paving Equip., Screeds, Sen/ice Trucks, Cement Trucks, Arrow Boards, Hyd. Disk, Mechanics Trucks, Air Compressors, Concrete Forms, and Support Equip. in sufficient quantity to perform a project of this magnitude. ... The following items are on Rental to sen/ice our current requirements. Cat Scraper 2 Komatsu Dozer/Ripper 1 Cat 815 Compactor 1 4000g Water Truck 1 ED BELL CONSTRUCTION COMPANY Financi&l Statements October 31, 1997 (With Independent Auditor*s Thereon) Bobert Ao Hubbard, A ProfeSsional Corporation Certified Public Accountant ED BELL CONSTRUCTION COMPANY Table of Contents Independent Auditor's Report Balance Sheet Statements of Earnings and Retained Earnings Statement of Cash Flows Notes to Financial Statements Paaes 1 2 3 4 5 - 7 FI' l ert A. Hubbard, Certified PuDlic Accountant 2997 LB] FREEWAY, SUITE 219 * DALLAS, TEXAS 75234 TELEPHONE (972)620-9855 Independent Auditor's Report' Board of Directors Ed Bell Construction Company I have audited the accompanying balance sheet of Ed Bell Construction Company as of October 31, 1997, and the related statements of earnings, retained earnings and cash flows for the year then ended. These financial statements are the responsibility of the Company's management. My responsibility is to express an opinion on these financial statements based on my audit. I conducted my audit in accordance with generally accepted auditing standards. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An au- dit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. I believe that my audit provides a reasonable basis for my opinion. In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Ed Bell Construction Company at October 31, 1997, and the results of its operations and its cash flows for the year then ended in conformity with generally accepted accounting principles. January 10, 1998 ED BELL CONSTRUCTION COMPANY Balance Sheet October 31, 1997 Current assets: Cash Accounts receivable Due on contracts (including retainage of $ 927,278) Due from parent corporation Inventory Costs and estimated earnings in excess of billings on uncompleted contracts Prepaid expenses 578,073 2,178,375 654,070 12,891 11,924 Liabilities and Stockholders' E_~uit? Current liabilities Accounts payable Due subcontractors (including retainage of $ 574,675) Trade Billings in excess of costs and estimated earnings on uncompleted contracts Accrued liabilities 946,767 1,393,972 9,161 Total current liabilities Long-termdebt, excluding current installments Stockholders' equity: Common stock of $1 par value Authorized 1,000 shares; issued 1,000 shares Retained earnings 1,000 Total stockholders' equity Commitments and contingencies See accompanying notes to financial statements ED BELL CONSTRUCTION COMPANY Statements of Earnings and Retained Earnings Year ended October 31, 1997 Construction - earned revenue Cost of construction Gross profit from operations Selling, general and administrative expenses Earnings from operations Other income (expense)- Interest expense Earnings from operations before provision for income taxes Provision for income taxes- Currently payable Net earnings Retained earnings, beginning of year Retained earnings, end of year $ 16,766,018 866,624 14,352 (2,000) 12,352 See accompanying notes to financial statements 3 ED BELL CONSTRUCTION COMPANY Statement of Cash Flows Year ended October 31, 1997 Cash flow from operating activities Net earnings Adjustments to reconcile net income to net cash provided byoperating activities: (Increase) decrease in accounts receivable (Increase) decrease in inventory (Increase) decrease in costs and estimated earnings in excess of billings on uncompleted contracts (Increase) decrease in prepaid expenses Increase (decrease) in accounts payable Increase (decrease) in billings in excess of costs and estimated earnings on uncompleted contracts Increase (decrease) in accrued liabilities Net cash provided by operating activities Cash at beginning of year Cash at end of year 1997 12,352 1,517,820 20,076 318 (12,025) (1,275,877) (1,726) 2.274 263,212 314.861 $78,073 See accompanying notes to financial statements 4 ED BELL CONSTRUCTION COMPANY Notes to Financial Statements October 31, 1997 (1) Summary of Significant Accountin~ Policies (a) Revenue Recocmition Revenue on contracts is recorded on the basis of the Company's estimates of the percentage of completion, commencing when progress is sufficient to estimate final results with reasonable accuracy. That portion of the total contract price is accrued which is allocable to contract expenditures incurred and work performed. As contracts extend over one or more years, revisions in cost and profit estimates during the course of the work are reflected in. the accounting period in which the facts that require the revision become known. At the time a loss on a contract becomes known, the entire amount of the estimated ultimate loss is accrued. (b) Income Taxes The provision for income taxes is based on income for financial reporting purposes and included deferred income tax charges and credits applicable to timing differences between financial and taxable income. Construction contracts are reported for tax purposes on the percentage of completion-capitalized cost method and for financial statement purposes on the percentage of completion method. Charges to income resulting from an employee stock participation plan are recognized for financial reporting purposes, but are not deductible for tax purposes until paid. The Company files consolidated federal income tax returns with Ed Bell Investments, Inc., owner of all the Company's outstanding stock. (G) Inventory Inventory is stated at the lower of cost (first-in, first-out method) or market. (Continued) 5 ED BELL CONSTRUCTION COMPANY Notes to Financial Statements, Continued (1) Summary of Significant Accounting Policies. Continued (d) Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. (e) Concentrations of Credit Risk The Company contracts with only state and local government agencies during the normal course of business. At times throughout the year the Company may maintain certain bank accounts in excess of the FDIC insured limits. (2) Accounts Receivable ~No allowance for uncollectible accounts has been provided. Management has evaluated the accounts and believes they are all collectible. (3) Contracts in Progress Uncompleted contracts are summarized as follows: Accumulated costs and estimated earnings Billings and accrued billings $ 52,462,584 $ 2. 763 Included in the accompanying balance sheet as: Current assets Current liabilities 11,924 __9.~61 $ 2.763 Estimated earnings (net of losses) on uncompleted contracts totaled $ 5,935,160 for the year ended October 31, 1997. 6 ED BELL CONSTRUCTION COMPANY Notes to Financial Statements, Continued (4) Lone-Term Debt As of October 31, 1997, the Company has a 12.5 % subordinated debenture in the amount of $ 16,000 due November 1, 1998. (5) T~ansactions'with Parent Company The Company is a wholly-owned subsidiary of Ed Bell Investments, Inc., and rents its equipment from its parent company. In addition, the Company is charged a bonding fee as work commences on new contracts. Equipment rental is based on the prevailing market rate as determined by Ed Bell Investments, Inc. Bonding fees are based on 1/2 of i % of the estimated contract revenue. (6) Commitments and Contingencies Completed construction contracts normally require the replacement of all defects due to faulty material and workmanship that appear within one year from the completion (acceptance) date. Substantially all revenue is from construction contracts with state and local governments, primarily in the Dallas area. As of October 31, 1997, the Company had a backlog of approximately $ 29,352,188 including $ 16,907,668 in contracts not yet commenced. ~7) Federal Income Taxes The Company files consolidated federal income tax returns with its parent company, Ed Bell Investments, Inc. The provision for income taxes is based on the Company's portion of the consolidated tax provision. (8) Statement of Cash Flow For the year ended, the Company paid $ 2,000 in interest. 00-0006-0075-900-0000 I (214) 744-1000 LIENHOLDER ID / LOAN NUMBER / OWNER NAME AND ADDRESS / I lllllllfllmlll[ lllllllmllmHmllllll]llllHllllllmlmmnllflllll PROPERTY DESCRIPTION * * $ * * A U T 0 C R B O07 * * 10605 HARRY H%NE$ BLVD DA BLK 8473 H H%NE$ ~HYRTLE $PRZNGS VOL88061PQO086 CO-DALLAS 6473 000 000 ED BELL TNVESTMENTS zNC P 0 BOX 540787 DALLAS, TX 75354-0787 Ih,,hhh,,Ih,hh,h,llh,,h,,Ih,hh,,Ih,hh,,Ihh,I 1987 C%TY AND SCHOOL REAL ESTATE LAND AND %#PROVEHENT$ 00-0006-0076-900-0000 DALLAS CTY D.z.S.D. ASSESSED VALUE 322,730 322,730 TAXABLE VALUE 322,730 322,730 TAX RATE (PER $100) .6516000 1.4605300 TOTAL '2, 102.91 4,713.57 TOTAL DUE IF PAID BY I / 3 I / 98 6, 8 I 6.48 PORTION FOR YOUR RECORD. THIS AND YOUR CANCELLED CHECK WILL BE YOUR RECEIPT.