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<br /> <br />HARDESTY & HANOVER, LLC <br />Notes to Statement of Direct Labor, <br />Fringe Benefits and General Overhead <br />For the Year Ended December 31, 2019 <br /> <br />NOTE 1: DESCRIPTION OF THE COMPANY <br /> <br />Hardesty & Hanover, LLC is a domestic consulting engineering firm that performs bridge and <br />design engineering for governmental units and private entities primarily throughout the United <br />States of America. <br /> <br />In June 2011, the Delaware limited liability companies, Hardesty & Hanover Holding, LLC, <br />Hardesty & Hanover Construction Services, LLC and Hardesty & Hanover, LLC were formed. <br />Hardesty & Hanover Holding, LLC remained a separate entity while Hardesty & Hanover <br />Construction Services, LLC and Hardesty & Hanover, LLC were under Hardesty and Hanover, LLP <br />as wholly owned subsidiaries. The owners of each LLC were identical to Hardesty & Hanover, <br />LLP. <br /> <br />On January 1, 2012 the wholly owned subsidiaries of the LLP, Hardesty & Hanover Construction <br />Services, LLC and Hardesty & Hanover, LLC were transferred as wholly owned subsidiaries of <br />Hardesty & Hanover Holding, LLC in a nontaxable exchange. <br /> <br />For calendar year 2019 members with ownership interests of Hardesty & Hanover Holding, LLC <br />over 5% were Sean A. Bluni, Paul M. Skelton, Glen E. Schetelich, Daniel Y. Wan, Michael D. <br />Hawkins, Keith R. Griesing and Scott A. Reynolds. <br /> <br />In 2019, Hardesty & Hanover, LLP continued operating only to transition items of income and <br />expense. Selected balance sheet accounts and all of the income statement balances were transferred <br />to the LLCs by year end. <br /> <br /> <br />NOTE 2: BASIS OF ACCOUNTING <br /> <br /> The Company's policy is to prepare its indirect cost rate schedules, which support the statement of <br />direct labor, fringe benefits and general overhead, on the basis of accounting practices prescribed in <br />Part 31 of the Federal Acquisition Regulations (FAR). The Company maintains its accounting <br />records on an accrual basis of accounting and the accompanying Statement has been prepared on an <br />accrual basis. Accordingly, the above mentioned statement is not intended to present the results of <br />operations of the Company in conformity with accounting principles generally accepted in the <br />United States of America. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />-7-