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Home My WebLink AboutGCPO-TIF26 David BidGibson County, Indiana Gibson County Request for Bid No. GCPO-TIF26 BID CHECKLIST Bidders are to complete, sign and return the following forms. Use the list below to check off the items as they are completed and as a mailing check list. A complete bid package must contain all the items. 1, V Request for Bid Form (signed) 2. Bid Price Sheets and Bid Summary Sheet (signed) 3. V Bid Bond 4. �/ Vendor Information form 5. V Vendor Reference form 6. V Completed Statement of Bidder's Qualifications document with point by point responses and additional sheets attached as necessary 7. V/ E-Verify Affidavit. 8. Contractors Bid for Public Works Form 96. 9. J Indiana Iran Investment Cert. 10. V Addendum to Bid Documents # of Addendums I 11. —V All bidders must indicate on the outside of their response the bid number, date and time of bid opening, and in large letters "SEALED BID ENCLOSED". Fax bids must follow all instructions included in Special Conditions of Bid. NOTE: Gibson County reserves the right to reject incomplete bids. State of Indiana, Gibson County BIDS MUST BE SEALED AND ADDRESSED TO: nRemove from bidder list for this commodity/service. (Return this page only AGENCY ADDRESS: Bid envelope must be sedated and plainly marked in lower corner with due date and Request for Bid Attention: Mr. Mike Watkins # GCr"p0`TIFL6. Late bids will be rejected. Bids MUST be date and time stamped by Gibson County Auditor the soliciting purchasing office on or before the date and time that the bid is due. Bids dated and Gibson County Courthouse time stamped in another office will be rejected. Receipt of a bid by the mail system does not 101 North Main St. constitute receipt of a bid by the purchasing office. Any bid which is inadvertently opened as a result of not being properly and clearly marked is subject to rejection. Bids must be submitted Princeton, IN 47670 separately, i e not included with sample packages or other bids Bid openings are public unless otherwise specified Records will be available for public inspection after issuance of the notice of intent to award or the award of the contract. Bidder should contact person named below for an appointment to view the bid record. Bids shall be firm for acceptance for sixty, 60) days from date REQUEST FOR BID of bid opening unless otherwise noted. The attached terms and conditions apply to any subsequent award THIS IS NOT AN ORDER Bids MUST be in this office no later than BIDDER (Name and Address) 4:00 PM CST, Tuesday, April 21, 2026 Name (Contact for further information) David Enterprises, Inc Matthew L. Holden, P.E. email address: Mholden@gibsoncounty-in.gov Phone Date (812) 385-4887 March 12,2026 Quote Price and Delivery FOB Destination Fax bids are not accepted Item Quantity Description Price No. and Unit Per Unit Total Gibson County is requesting bids for the Hot Mix Asphalt "HMA" paving/marking of the following county roads: CR350E, CR550S, CR100E, CR650S and CR175E. The County is soliciting bids for a contractor to perform subgrade preparation, milling, hauling, patching, wedging, "HMA" Hot Mix $2,668,300.45 Asphalt paving, shoulder restoration, and striping. for the aforementioned roads. The contractor will be responsible for all utility location and protection, surveying, traffic control, CQA testing, HMA quality control, and safety. As per the attached Specifications/Scope of Work, Special Conditions of Bid, Contractors bid for public works - Form 96, E- Verify Affidavit, Statement of Bidder's Qualifications, Bid Price Sheet, Bid Bond, Standard Terms and Conditions, Supplemental Standard Terms and Conditions for Procurements for Services and Indiana Iran Cert. Note: Please complete, sign and return the following forms: this Request for Bid Form, Contractors Bid for Public Work — Form 96, E-Verify Affidavit, Bid Bond, Statement of Bidder's Qualification, Bid Price Sheet, Vendor Information Form, Vendor Reference Form and Indiana Iran Cert. Use the Bid Checklist to ensure submission of complete bid. Bid packages may be picked up at the Gibson County Highway Office. Special Note: A Mandatory Pre Bid meeting will be held on April 7, 2026 at 9:00 a.m. CST at the Gibson County Highway Garage 1491 E 350 S., Princeton, IN 47670. See the Special Conditions of Bid for details and for information about submitting written questions. Payment Terms I Delivery Time In signing this bid we also certify that we have not, either directly or indirectly, entered into any agreement or participated in any collusion or otherwise taken any action in restraint of free competition, that no attempt has been made to induce any other person or firm to submit or not to submit a bid, that this bid has been independently arrived at without collusion with any other bidder, competitor or potential competitor- that this bid has not been knowingly disclosed prior to the opening of bids to any other bidder or competitor; that the above statement is accurate under nenalty of neriunr We will cmmnly with all termscnnditinns and snecifications reauirnd by the state in this Renimst fnr Bid and all terms of nur hid Name of Authorized Company Representative (Type or Print) Jake David Title Phone 812 422- 1827 Fax Signature of Above Date Federal Employer Identification No.LP,.pnet urity No. if Sole 4/21/26 35-1634581 (Voluntary) ra TIF ESTIMATE 1 RFB # GCPO-TIF26 HMA OVERLAY OF CR350E FROM SR168 TO Dead End GIBSON COUNTY, INDIANA (EST. 29730 FT) ITEM Description (Planned Section Width 25 ft., 3 in. Thick) Quantity Units Unit Price Extended Cost 1 Mobilization / Demobilization 1 EA $3,000.00 $3,000.00 2 Milling Transitions and tie-ins to existing pavement 43 EA $150.00 $6,450.00 3 Scarify road, 1/2" 84153 SYS $0.90 $75,737.70 4 HMA Intermediate, Type B, 12.5, mm 165 lb/sq. yd. 6943 Tons $97.00 $673,471.00 5 HMA Surface, Type B, 12.5 mm, 165 lb/sq. yd. 6943 Tons $97.00 $673,471.00 6 Tack Coat 8415 Gal. $3.50 $29,452.50 7 #53 Shoulder Stone 1494 TN $60.00 $89,640.00 8 Striping 118920 LF 1 $0.201 $23,784.00 BID SUB -TOTAL $1,575,006.20 Approaches: CR600S, CR550S, CR450S, CR650S, CR250S, CR175S Haul millings to CR675E/CR475S TIF ESTIMATE 2 RFB # GCPO-TIF26 HMA OVERLAY OF CR550S (EST. 3750 FT) FROM CR100E TO CR25E GIBSON COUNTY, INDIANA ITEM Description (Planned Section Width 22 ft., 3 in. Thick) Quantity Units Unit Price Extended Cost 1 Mobilization / Demobilization 1 EA $3,000.00 $3,000.00 2 Milling Transitions and tie-ins to existing pavement 8 EA $150.00 $1,200.00 3 Scarify road, 1/2" 9673 SYS $0.90 $8,705.70 4 HMA Intermediate, Type B, 12.5, mm 165 lb/sq. yd. 798 Tons $97.00 $77,406.00 5 HMA Surface, Type B, 12.5 mm, 220 lb/sq. yd. 798 Tons $97.00 $77,406.00 6 Tack Coat 967 Gal. $3.50 $3,384.50 7 #53 Shoulder Stone 188 TN $60.00 $11,280.00 8 Striping 15000 LF $3,000.00 k__.$0.20 BID SUB -TOTAL $185,382.20 Approaches: Haul millings to CR675E/CR475S TIF ESTIMATE 3 RFB # GCPO-TIF26 HMA OVERLAY OF CR100E FROM CR525S to CR600S GIBSON COUNTY, INDIANA (EST. 4045 FT) ITEM Description (Planned Section Width 19 ft., 3 in. Thick) Quantity Units Unit Price Extended Cost 1 Mobilization / Demobilization 1 EA $3,000.00 $3,000.00 2 Milling Transitions and tie-ins to existing pavement 6 EA $150.00 $900.00 3 Scarify road, 1/2" 8915 SYS $0.90 $8,023.50 4 HMA Intermediate, Type B, 12.5, mm 165 lb/sq. yd. 736 Tons $97.00 $71,392.00 5 HMA Surface, Type B, 12.5 mm, 165 lb/sq. yd. 736 Tons $97.00 $71,392.00 6 Tack Coat 892 Gal. $3.50 $3,122.00 7 #53 Shoulder Stone 203 TN $60.00 $12,180.00 8 Striping 16180 LF 0.20 $3,236.00 H BID SUB -TOTAL $173,245.50 Approaches: Haul millings to CR675E/CR475S TIF ESTIMATE 4 RFB # GCPO-TIF26 HMA OVERLAY OF CR650S FROM US41 TO CR175E GIBSON COUNTY, INDIANA (EST. 9230 FT) ITEM Description (Planned Section Width 20 ft., 3 in. Thick) Quantity Units Unit Price Extended Cost 1 Mobilization / Demobilization 1 EA $3,000.00 $3,000.00 2 Milling Transitions and tie-ins to existing pavement 2 EA $150.00 $300.00 3 Scarify road, 1/2" 20827 SYS $0.90 $18,744.30 4 HMA Intermediate, Type B, 12.5, mm 165 lb/sq. yd. 1718 Tons $97.00 $166,646.00 5 HMA Surface, Type B, 12.5 mm, 220 lb/sq. yd. 1718 Tons $97.00 $166,646.00 6 Tack Coat 2083 Gal. $3.50 $7,290.50 7 #53 Shoulder Stone 464 TN $60.00 $27,840.00 8 Striping 36920 LF $0.20 $7,384.00 BID SUB -TOTAL $397,850.80 Approaches: Haul millings to CR675E/CR475S TIF ESTIMATE 5 RFB # GCPO-TIF26 HMA OVERLAY OF CR175E (EST. 10590 FT) FROM CR350S TO CR150S GIBSON COUNTY, INDIANA ITEM Description (Planned Section Width 20 ft., 3 in. Thick) Quantity Units Unit Price Extended Cost 1 Mobilization / Demobilization 1 EA $3,000.00 $3,000.00 2 Milling Transitions and tie-ins to existing pavement 6 EA $150.00 $900.00 3 Scarify road, 1/2" 23849 SYS $0.90 $21,464.10 4 HMA Intermediate, Type B, 12.5, mm 165 lb/sq. yd. 1968 Tons $97.00 $190,896.00 5 HMA Surface, Type B, 12.5 mm, 220 lb/sq. yd. 1968 Tons $97.00 $190,896.00 6 Tack Coat 2385 Gal. $3.50 $8,347.50 7 #53 Shoulder Stone 532 TN $60.00 $31,920.00 8 Striping 42360 LF $0.20 $8,472.00 BID SUB -TOTAL $455,895.60 Approaches: Haul millings to CR675E/CR475S ESTIMATE SUMMARY RFB # GCPO-TIF26 GIBSON COUNTY, INDIANA ITEM Description Quantity Units Unit Price Extended Cost 1 Mobilization / Demobilization 5 EA $3,000.00 $15,000.00 2 Milling Transitions and tie-ins to existing pavement 65 EA $150.00 $9,750.00 3 Scarify road, 1/2" 147417 SYS $0.85 $125,304.45 4 HMA Intermediate, Type B, 12.5, mm 165 lb/sq. yd. 12163 Tons $93.00 $1,131,159.00 5 HMA Surface, Type B, 12.5 mm, 165 Ib/sq. yd. 12163 Tons $93.00 $1,131,159.00 6 Tack Coat 14742 Gal. $3.50 $51,597.00 7 #53 Shoulder Stone 2881 TN $55.00 $158,455.00 8 Striping 229380 LF $0.20 $45,876.00 BID TOTAL $2,668,300.45 BID BOND KNOWN BY ALL PERSONS BY 1 HESF: PRESENTS THA-, THE UNDERSIGNED: BIDDER: Jerry David Enterprise-. Inc. as principal. and SURETY: [Name] Granite Re, Inc. [Address] 14001 Quailbrook Drive Oklahoma City, OK 73134 as Surety, are firmly bound unto Gibson County, Indiana in the full and just sum of an amount equal to TEN PERCENT of the amount of the Principal's bid, to the payment of which, well and truly to be made, we bind ourselves jointly and severally, and our joint and several heirs, executors, administrators and assigns, firmly by these prosents THE CONDITIONS OF THE ABOVt_ OBLIGATIONS ARE SUCH THAT, whereas, the Principal is herewith submitting a bid and proposal for construction and completion of this contract in accordance with plans and specifications, which are made part of this bond; NOW, THEREFORE, if Gibson County shall award the Principal the contract and the Principal shall promptly, enter into contract with Gibson County, then this obligation shall be void; otherwise to remain in full force, virtue, and effect. IT IS AGREED that no modifications, omissions, or additions in or to the terms of such contract or in or to the plans or specifications therefore shall affect the obligation of such sureties on this bond. IN WITNESS WHEREOF, we hereto set our hands and seals: Jerry David Enterprises, Inc (Bid Bond) < < BIDDER > > t OLKe (Prix, (Title State of Indiana, County of Before me, the undersigned Notary Public, personally appeared; JG�-� bCL «1 _____•.As Principal and acknowledged thUM� bond on this Z i�� Day of ._ 2-6 �_. SEAL My commission Expires: 2 3 — 3C�_____ •. , .Vctyu� u (County of Resident (Notary Signature & < <SURETY > > Granite Re, Inc (Bid Bond) (Sign ..ire) Kenneth D Whittington Attorney -In -Fact (Printed) (Title) Oklahoma State of kPdiM, County of Oklahoma _ , SS; Before me, the undersigned Notary Public, personally appeared; DIANE E FOLZ Commission # NP0657018 Vanderburgh County My Commission Expires August 23, 2030 ``��ttiii�►►,, I T E RF �;•vpKpORq�F ;C - SEAL - V�*,V E S' � Surely Kenneth D Whittington As F4AX?W and acknowledged the execution of the above bond on this `I � _ _ day of April 20 2 My commission Expires: 03/0&2027 .`��aA•S •CO Oklahoma #19002532 - EXp.03108/27 - (County of Residence) (Notary Signature & Seal) .OF OKI, GRANITE RE, INC. GENERAL POWER OF ATTORNEY Know all Men by these Present%: That GRANITE RE, INC., a corporation organized and existing under the laws of the State of MINNESOTA and having its principal office at the City of OKLAHOMA CITY in the State of OKLAHOMA does hereby constitute and appoint: I\L\NFTH D. WHITTINGTON, KYLE MCDONALD its true and lawful Attorney-in-Fact(s) for the following purposes, to wit: To sign its name as surety to, and to execute, seal and acknowledge any and all bonds, and to respectively do and perform any and all acts and things set forth in the resolution of the Board of Directors of the said GRANITE RE, INC, a certified copy of which is hereto annexed and made a part of this Power of Attorney; and the said GRANITE RE, INC. through us, its Board of Directors, hereby ratifies and confirms all and whatsoever the said: KENNETH D. WHITTINGTON; KYLE MCDONALD may lawfully do in the premises by virtue of these presents. In Witness Whereof, the said GRANITE RE, INC. has caused this instrument to be sealed x%ith its corporate seal, July attested by the signatures of its President and Assistant Secretary, this 31 st day of July, 2023. ash 4 Kenneth D. Whi n, President STATE OF OKLAHOMA ) s " t w ,• SS: COUNTY OF OKLAHOMA ) Kyl P. McDonald, Assistant Secretary On this 31st day of July, 2023, before me personally came Kenneth D. Whittington, President of the GRANITE RE, INC. Company and Kyle P. McDonald, Assistant Secretary of said Company, with both of whom I am personally acquainted, who being by me severally duly s%Norn. said, that they, the said Kenneth D. Whittington and Kyle P. McDonald were respectively the President and the Assistant Secretary of GRANITE RE, INC., the corporation described in and which executed the foregoing Power of Attorney; that they each knew the seal of said corporation; that the seal affixed to said Power of .Utorney was such corporate seal, that it was so fixed by order of the Board of Directors of said corporation, and that they signed their name thereto by like order as President and Assistant Secretary, respectively, of the Company. My Commission Expires: April 21, 2027 Commission 11003620 GRANITE RE, INC. Certificate �auk- Notary Pubhc THE UNDERSIGNED, being the duly elected and acting Assistant Secretary of Granite Re, Inc., a Minnesota Corporation, HEREBY CERTIFIES that the following resolution is a true and correct excerpt from the July 15, 1987, minutes of the meeting of the Board of Directors of Granite Re, Inc. and that said Power of Attorney has not been re%oked and is now :u full force and effect. "RESOLVED, that the President, any Vice President, the Assistant Secretary, -t:�:' any Assistant Vice President shall each h&-e authority to appoint individuals as attorneys -in -fact or under other appropriate titles with authority to execute on behalf of the company fidelity and surety bonds and other documents of similar character issued by the Company in the course of its business. On any instrument making or evidencing such appointment, the signatures may be affixed by facsimile. On any instrument conferring such authority or on any bond or undertaking of the Company, the seal, or a facsimile thereof, may be impressed or affixed or in any other manner reproduced; provided, ho%Ne�er, that the seal shall not be necessary to the validity of any such instrument or undertaking." IN WITNESS WHEREOF, the undersigned has suhecribgd thia Certificate and affixed the corporate seal of the Corporation this April 21 , 2026. v`" , - • r = Kyle P. McDonald, Assistant Secretary i /'''��//I GR-40 Ed. W24 Gibson County Bid / Proposal # GCPO-26TIR Commodity / Service PAVING HOT MIX ASPHALT VENDOR INFORMATION 1. BIDDING / PROPOSING COMPANY NAME Jerry David Enterprises, Inc FEIN 35-1634581 Phone ( 812) 422-1827 Toll Free Phone ( ) FAX ( 812) 422-4855 E-Mail Address Address 3600 Broadway Ave City State Zip + 4 Evansville IN 47712 2. Name the person to contact for questions concerning this bid / proposal. Name Title Jake David Phone ( 812)746-6030 Toll Free Phone ( ) FAX ( ) E-Mail Address ,iake@davidenterprisesinc.com Address 3600 Broadway Ave City State Zip + 4 3. Any vendor awarded over $25,000 on this contract must submit affirmative action information to the department. Please name the Personnel / Human Resource and Development or other person responsible for affirmative action in the company to contact about this plan. Name Title Brent Garibay Safety Director / HR Phone ( 812) 456-1880 Toll Free Phone ( ) FAX ( ) E-Mail Address brentodavidenterprisesinc.com Address 3600 Broadway Ave _ City State Zip + 4 4. Mailing address to which purchase orders are mailed and person the department may contact concerning orders and billings. Name Title Diane Folz Vice President Phone ( 812) 422-1827 _ Toll Free Phone ( ) FAX ( ) E•Mail Address diane@davidenterprisestnc.com Address 3600 Broadway Ave City StateYu Zip + 4 5. CEO / President Name Jerry David, Jr. _ This document can be made available in accessible formats to qualified individuals with disabilities. GIBSON COUNTY, INDIANA Bid / Proposal # GCPO-26TIF GIBSON COUNTY HMA OVERLAY VENDOR REFERENCE FOR VENDOR: Jerry David Enterprises, Inc Provide company name, address, contact person, telephone number, and appropriate information on the product(s) and/or service(s) provided by your firm for four (4) or more projects with requirements similar to those included in this solicitation document. If vendor is proposing any arrangement involving a third party, the named references should also be involved in a similar arrangement. Company Name Posey County Highway Address (include Zip + 4) 1203 O'Donnel Road, Mount Vernon, IN 47620 Contact Person Steve Schenk Phone No. 812-838-1334 Product(s) and/or Service(s) Used Asphalt Paving_ Company Name Vanderburgh County Engineer Address (include Zip + 4) 201 NW Fourth St Old Courthouse, Suite 306, Evansville, IN 47708 Contact Person John Stoll Phone No. 812-435-5773 Product(s) and/or Service(s) Used Asphalt Paving and Patching Company Name City of Mount Vernon Address (include Zip + 4) 406 Old Hwy 69 South, Mount Vernon, IN 47620 Contact Person Jim Kilgore Phone No 812-838-2352 Product(s) and/or Service(s) Used Asphalt Paving and Patching Company Name Evansville Water & Sewer Address (Include Zip + 4) 1 NW MLK Jr Blvd, Evansville, IN 47708 Contact Person Justin Guetling Phone No. 812-436-7846 Product(s) and/or Service(s) Used Asphalt Paving and Patching This document can be made available in accessible formats to qualified individuals with disabilities. RFB #GCPO-26TZF STATEMENT OF BIDDER'S QUALIFICATIONS GIBSON COUNTY HMA OVERLAY OF VARIOUS COUNTY ROADS REQUIREMENTS A. This Statement of Bidder's Qualifications shall be completed and returned with the bid. B. The Statement of Bidder's Qualifications shall be used to determine the bidder's ability to perform the work as specified in these bid documents and the accompanying permit conditions. C. All questions shall be answered and the data given shall be clear and comprehensive. If necessary, questions may be answered on separate attached sheets. D. The successful bidder shall have a minimum of 5 years of experience in heavy highway paving, hauling, milling and disposal of materials. The successful bidder shall also have experience in general grading, drainage, traffic control, utilities relocation, shoulders, striping, and common erosion control practices. E. The bidder shall include resumes of key personnel to be used for the work and the reporting requirements. The bidder shall list the name of the laboratory proposed for use in the quality control work that may be required by the County. F. The bidder shall list any other capabilities that may be useful in conducting the work. ll. STATEMENTS A. Name of Bidder Jerry David Enterprise, Inc B. Permanent main office address 3600 Broadway Ave Evansville, IN 47712 If a corporation, where is it incorporated'? Indiana D. Name of any affiliated business and the location of the bidder's proposed contact person and the names of the proposed personnel that would be conducting on -site inspections, emergency responses, surveying, utility locates, and quality control for this project. See attachment Do you have background experience in working with potential utilities that could be encountered through the course of the work? Do you have the necessary equipment and trained personnel? Describe this experience. I Yes. We have worked with Evansville Water & Sewer and Centerpoint Energy for over 35 years. Do you have a health and safety program to adequately educate and protect your personnel in working in a hazardous environment in accordance with the requirements specified in OSHA 29 CFR 1910.120(b)(4)? If not, briefly describe your health & safety program. Our H & S program does not cover Hazardous Waste Operations and Emergency Response. We do not transport or house anything in recordable quantities that can be deemed hazardous waste. Our program does include: D&A, power tool safety, ladder safety, electrical safety, reasonable suspicion training, Hazcom & GHS, PPE, hearing conversation. G. Certification of Health and Safety training, including the date of the most recent training, for all personnel that would conduct the operations and maintenance for the field activities shall be submitted by the successful bidder prior to the start of field activities. Do all designated personnel meet current safety training requirements? [yes H. Do you have experience in working with the proposed HMA proposed mixes? Do you have experience in hauling of these materials? Please list the name and location of the asphalt plant from where you are planning to haul your material. Is the plant an INDOT approved plant'? Yes. Our plant located at 4301 Hogue Rd, Evansville, IN 47712 Do you own your own pavement milling machines? If not, what is the name of the company that you propose to use for milling? Please list the relevant experience. Yes. E-Verify Affidavit Pursuant to Indiana Code 22-5-1.7-11, the Contractor entering into a contract with the County is required to enroll in and verify the work eligibility status of all its newly hired employees through the E-Verify program. The Contractor is not required to verify the work eligibility status of all its newly hired employees through the E-Verify program if the E-Verify program no longer exists. The undersigned, on behalf of the Contractor, being first duly sworn, deposes and states that the Contractor does not knowingly employ an unauthorized alien. The undersigned further affirms that, prior to entering into its contract with the County, the undersigned Contractor will enroll in and agrees to verify the work eligibility status of all its newly hired employees through the E-Verify program. (Contractor): ck-u By (Printed Name): D(0-04_ E (�) lZ (Title): V P (' eu . Important - Notary Signature and Seal Required in the Space Below STATE OF l COUNTY V,4VV280('(-dbF SS: Subscribed and sworn to before me this J( day of 2 i ,20 SEAL ��,`Q`.•.•9�M1SStON F N• � r f0 • A .O� ': �A% J. FSLIC My commiss(oy' filll�� Residing in Wvl-(ZP—(C (L County, / N Stat CONTRACTOR'S BID FOR PUBLIC WORK - FORM 96 State Form 52414 (R2 / 2-13) / Form 96 (Revised 2013) ' Prescribed by State Board of Accounts PART (To be completed for all bids. Please type or print) Date (month, day, year): 04/21 /26 1. Governmental Unit (Owner): Board of Commissioners of Gibson County 2. County: Gibson County 3. Bidder (Firm): Jerry David Enterprises Inc. Address: 3600 Broadway Ave City/State/ZlPcode: Evansville, IN 47712 4. Telephone Number: 812-422-1827 5. Agent of Bidder (if applicable): Pursuant to notices given, the undersigned offers to furnish labor and/or material necessary to complete the public works project of GCPO - 26TIF (Governmental Unit) in accordance with plans and specifications prepared by Jerry David Enterprises Inc. and dated 04/21/26 for the sum of Two million six hundred sixty eight thousand three hundred dollars and forty five cents $ 2,668, 300.45 The undersigned further agrees to furnish a bond or certified check with this bid for an amount specified in the notice of the letting. If alternative bids apply, the undersigned submits a proposal for each in accordance with the notice. Any addendums attached will be specifically referenced at the applicable page. If additional units of material included in the contract are needed, the cost of units must be the same as that shown in the original contract if accepted by the governmental unit. If the bid is to be awarded on a unit basis, the itemization of the units shall be shown on a separate attachment. The contractor and his subcontractors, if any, shall not discriminate against or intimidate any employee, or applicant for employment, to be employed in the performance of this contract, with respect to any matter directly or indirectly related to employment because of race, religion, color, sex, national origin or ancestry. Breach of this covenant may be regarded as a material breach of the contract. CERTIFICATION OF USE OF UNITED STATES STEEL PRODUCTS (If applicable) I, the undersigned bidder or agent as a contractor on a public works project, understand my statutory obligation to use steel products made in the United States (I.C. 5-16-8-2). 1 hereby certify that I and all subcontractors employed by me for this project will use U.S. steel products on this project if awarded. I understand that violations hereunder may result in forfeiture of contractual payments. The above bid is accepted this following conditions: Contracting Authority Members: ACCEPTANCE day of PART II (For projects of $150,000 or more — /C 36-1-12-4) Governmental Unit: Bidder (Firm) Board of Commissioners of Gibson Cou Jerry David Enterprises Inc. Date (month, day, year). 04/21 /26 , subject to the These statements to be submitted under oath by each bidder with and as a part of his bid. Attach additional pages for each section as needed. SECTION I EXPERIENCE QUESTIONNAIRE What public works projects has your organization completed for the period of one (1) year prior to the date of the current bid? Contract Amount Class of Work Completion Date Name and Address of Owner 1,500,000.00 Asphalt/Concrete 12/31/2025 Evansville Water & Sewer 5,000,000.00 Asphalt/Concrete 12/31/2025 Center Point Energy 1,400,000.00 Asphalt 11/13/25 Posey County Highway 480,000.00 Asphalt 11/01/2025 City of Mt Vernon 2. What public works projects are now in process of construction by your organization? Contract Amount Class of Work Expected Completion Date Name and Address of Owner 1,500,000.00 Asphalt/Concrete 12/31/26 Evansville Water & Sewer 6,900,000.00 Asphalt/Concrete 12/31/26 Center Point Energy 1,400,000.00 Asphalt 11/01/26 Posey County 1,800,000.00 Asphalt 11/01/26 Posey County 3. Have you ever failed to complete any work awarded to you? no If so, where and why? 4. List references from private firms for which you have performed work. Skanska - Evansville IN SABIC - Mt Vernon, IN One Main Financial - Evansville, IN ALCOA - Boonville IN ARC Construction - Evansville, IN SECTION II PLAN AND EQUIPMENT QUESTIONNAIRE 1. Explain your plan or layout for performing proposed work. (Examples could include a narrative of when you could begin work, complete the project, number of workers, etc. and any other information which you believe would enable the governmental unit to consider your bid.) Once a notice to proceed is given, we would begin construction as soon as possible. weather permitting 2. Please list the names and addresses of all subcontractors (i.e. persons or firms outside your own firm who have performed part of the work) that you have used on public works projects during the past five (5) years along with a brief description of the work done by each subcontractor. Pavement Sealinq 935 Canal Street Evansville IN Charbon Contracting LLC 475 Whittington Dr Madisonville KY Q Striping 1661 Buchanon Rd Evansville, IN O'Risky Excavating 10630 Copperline Rd Evansville IN Starnes Trucking 1539 S 100 W Princeton IN If you intend to sublet any portion of the work, state the name and address of each subcontractor, equipment to be used by the subcontractor, and whether you will require a bond. However, if you are unable to currently provide a listing, please understand a listing must be provided prior to contract approval. Until the completion of the proposed project, you are under a continuing obligation to immediately notify the governmental unit in the event that you subsequently determine that you will use a subcontractor on the proposed project. NA What equipment do you have available to use for the proposed project? Any equipment to be used by subcontractors may also be required to be listed by the governmental unit. Jerry David Enterprises possesses all necessary equipment to properly perform the work to complete all projects within this contract. Have you entered into contracts or received offers for all materials which substantiate the prices used in preparing your proposal? If not, please explain the rationale used which would corroborate the prices listed. yes SECTION III CONTRACTOR'S FINANCIAL STATEMENT Attachment of bidder's financial statement is mandatory. Any bid submitted without said financial statement as required by statute shall thereby be rendered invalid. The financial statement provided hereunder to the governing body awarding the contract must be specific enough in detail so that said governing body can make a proper determination of the bidder's capability for completing the project if awarded. SECTION IV CONTRACTOR'S NON — COLLUSION AFFIDAVIT The undersigned bidder or agent, being duly sworn on oath, says that he has not, nor has any other member, representative, or agent of the firm, company, corporation or partnership represented by him, entered into any combination, collusion or agreement with any person relative to the price to be bid by anyone at such letting nor to prevent any person from bidding nor to include anyone to refrain from bidding, and that this bid is made without reference to any other bid and without any agreement, understanding or combination with any other person in reference to such bidding. He further says that no person or persons, firms, or corporation has, have or will receive directly or indirectly, any rebate, fee, gift, commission or thing of value on account of such sale. SECTION V OATH AND AFFIRMATION I HEREBY AFFIRM UNDER THE PENALTIES FOR PERJURY THAT THE FACTS AND INFORMATION CONTAINED IN THE FOREGOING BID FOR PUBLIC WORKS ARE TRUE AND CORRECT. Dated at this 21 day of April 2026 Jerry David Enterprises Inc. �\ (Name of Organization) 0 Jon David Treasurer (Title of Person Signing) ACKNOWLEDGEMENT STATE OF IN ) ) ss COUNTY OF Vanderburgh Before me, a Notary Public, personally appeared the above -named Jon David and swore that the statements contained in the foregoing document are true and correct. Subscribed and sworn to before me this 21 day of April 2026 My Commission Expires 7 - Z, 3 -- 30 County of Residence: Vanderburgh Notary -Public i �R' ''e, DIANE E FOLZ a' Commission # NP0657018 sSEAL Vanderburgh County My Commission Expires �'� = ti+KIP August 23, 2030 D T a O n O N 0 a) a o_ n 0 3 0 0 1 0 UJ cr 0 0 0 C O n m w < rn a) o :3 O co 0 a) 0- z v D N cu TI O INDIANA IRAN INVESTMENT CERTIFICATION The State of Indiana has enacted a law (I.C. 22-5-16.5) which requires all state agencies and political subdivisions request certification from its contractors that the contractor is not engaged in investments act'vities in or with Iran as those terms are defined by Chapter 16.5. This certification serves as notice that all contractors doing business with the Gibson County - must, as a term of its contract, certify that he/she/it does not engage in investments activities in or with Iran. David Enterprises I, Jake David the duly authorized representative of iname of company), certify under penalty of perjury that David Enterprises (name of company) d_:i°s not engage in investments activities in or with Iran as those terms are defined by 1 C. 5-22-16.5 David Enterprises, Inc Name of Company` BY. �t�ofhorized of Representative Company} GIBSON COUNTY HIGHWAY DEPARTMENT 1791 E 350 S, Princeton, Indiana 47670 (812) 385-4887 Fax: (812) 385-4983 Matthew L. Holden, P.E. Engineer/Superintendent of Highway Department ADDENDUM #1 TO: GCPO-TIF26 Bidders Date April 16, 2026 This addendum, issued prior to award, alters, amends, corrects, or clarifies the Proposal Documents to the extent stated herein and does thereby become part of the Proposal Documents and will become part of the Contract Documents of the successful bidder(s) Items Included in this Addendum Standard Terms and Conditions: 1.0: While it is specified "Current INDOT Standards are to be used", PG 58S-28 OR PG 64-22 are acceptable for this project. Sincerely, Matthew L. Holden, P.E. Gibson County Engineer Attachment A David Enterprises, Inc Contact Name Role/Area Phone Jake David Estimator/QC 812-746-6030 Jeramy David Prep/Milling 812-550-6750 Jerry David Superintendent/President 812-305-0544 Don Shaw Superintendent 812-453-8570 Brent Schmitt QC 812-297-1298 Brent Garibay EHS 812-459-1880 .1ERRY DAVID ENTERPRISES, INC. EVANSVILLE, INDIANA REVIEWED FINANCIAL STATENIENTS AND SUPPLEMENTARY INFORMATION Years Ended December 31, 2024 and 2023 JERRY DAVID ENTERPRISES, INC. TABLE OF CONTENTS Page Independent Accountant's Review Report 1 - 2 Financial Statements: Balance Sheets 3 Statements of Income and Retained Earnings 4 Statements of Cash Flows 5 6 Notes to Financial Statements 7 - 19 Supplementary Information: Independent Accountant's Review Report on Supplementary Information 20 Schedules of Cost of Goods Sold 21 Schedules of Selling, General and Administrative Expenses 22 r'�r KEMPER V� _CPA GROUPLLn UCertified Public Accountants and Consultants INDEPENDENT ACCOUNTANT'S REVIEw REPORT Board of Directors Jerry David Enterprises, Inc. 3600 Broadway Avenue Evansville, Indiana 47712 We have reviewed the accompanying financial statements of Jerry David Enterprises, Inc. (an S Corporation), which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of income and retained earnings and cash flows for the years then ended, and the related notes to the financial statements. A review includes primarily applying analytical procedures to management's financial data and making inquiries of company management. A review is substantially less in scope than an audit, the objective of which is the expression of an opinion regarding the financial statements as a whole. Accordingly, we do not express such an opinion. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement whether due to fraud or error. Accountant's Responsibility Our responsibility is to conduct the review engagement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. Those standards require us to perform procedures to obtain limited assurance as a basis for reporting whether we are aware of any material modifications that should be made to the financial statements for them to be in accordance with accounting principles generally accepted in the United States of America. We believe that the results of our procedures provide a reasonable basis for our conclusion. We are required to be independent of Jerry David Enterprises, Inc. and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our review. 7200 Eagle Crest Blvd. ■ Evansville, IN 47715-8154 Phone: (812) 421-8000 Fax: (812) 421-2292 kempercpa.com Board of Directors Jerry David Enterprises, Inc. Basis for Qualified Conclusion As disclosed in Note 3 to the financial statements, accounting principles generally accepted in the United States of America require lessees with operating leases with lease terms greater than 12 months record a right -of -use asset, representing the right to use the asset for the non -cancelable portion of the lease term, and a related lease liability, representing the obligation to make lease payments. 'Management has informed us that the accompanying financial statements do not include the right -to -use assets or lease liabilities resulting from operating leases that, in accordance with accounting principles generally accepted in the United States of America, should be presented. Management has not determined the effect of these departures on the financial statements Qualified Conclusion Based on our review, except for the effect of the matter described in the Basis for Qualified Conclusion paragraph, we are not aware of any material modifications that should be made to the accompanying financial statements in order for them to be in accordance with accounting principles generally accepted in the United States of America. cm, /.c March 20, 2025 Certified Public Accountants and Consultants Evansville, Indiana JERRY DAVID ENTERPRISES, INC. BALANCE SHEETS ASSETS Current Assets Cash Accounts receivable — trade, net Accounts receivable — other Notes receivable — shareholder Total Current Assets December 31 2024 $ 3,135,225 2,690,898 26,571 80,110 5,922,804 2023 $ 3,946,742 3,068,058 7,855 112,868 7,135,523 Property and Equipment 16,704,993 10,696,101 14,308,673 8,992,684 Less accumulated depreciation Net Property and Equipment 6,008,892 5,315,989 Other Assets Note receivable — related party 156,246 228,034 $ 12,087,942 $ 12,679,546 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities $ 406,984 $ 385,832 Accounts payable 0 2,176 Accounts payable — shareholder 27,078,051 236,532 Accrued taxes and expenses 1,1 51 678,697 Current Portion of Notes Payable 16,493 25,546 Current Portion of Finance Leases 1,328,783 Total Current Liabilities 1,871,573 Long -Term Debt 2,474,110 1,931,469 Notes Payable, net of current portion 13,291 31,285 Finance Leases, net of current portion Total Long Term Debt 2,487,401 1,962,754 Shareholders' Equity Capital stock, no par common; 1,000 shares authorized; 300 shares issued 3,500 3,500 and outstanding 7,725,468 9,384,509 Retained earnings Total Shareholders' Equity 7,728,968 9,388,009 $ 12,087,942 $ 12,679,546 3 See accompanying notes and independent accountant's review report. JERRY DAVID ENTERPRISES, INC. STATEMENTS OF INCOME AND RETAINED EARNINGS Years Ended December 31, 2024 2023 Income Excavating, blacktop and $ 23,253,307 100.00 % $ 26,322,972 100.00 % concrete Costs of Goods Sold 17,873,451 76.84 18,103,167 68.77 Gross Profit 5,379,856 23.16 85219,805 31.23 Selling, General and Administrative 5,888,260 25.34 5,387,693 20.46 Expenses Income (Loss) from Operation: (508,404) (2.18) 2,832,112 10.77 Other Income (Expense) 12,898 .06 4,985 .02 :Miscellaneous 56,477 .24 42,094 .16 Interest Gain (Loss) on disposal of assets 67,611 .29 (116,295) (.44) Total Other Income (Expense) 136,986 .59 (69,216) (.26) NET INCOME (LOSS) BEFORE STATE TAXES (371,418) (1.59) 2,762,896 10.51 State Income Taxes NET INCOME (LOSS) Retained Earnings at Beginning of Year Distributions paid RETAINED EARNINGS AT END OF YEAR 50,836 .22 (422,254) (1.81) % 9,384,509 (1,236,787) $ 7,725,469 102,257 .39 2,660,639 10.12 % 7,810,020 (1,086,150) $ 9,384,509 See accompanying notes and independent accountant's review report. 4 JERRY DAVID ENTERPRISES, INC. STATEMENTS OF CASH FLOWS Years Ended December 31, 2024 CASH FLOWS FROM OPERATING ACTIVITIES Net income (loss) $ (422,254) Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 1,734,297 (Gain) Loss on disposal of assets (67,611) (Increase) decrease in: Accounts receivable — trade 387,160 Accounts receivable — other (18,716) Accounts receivable — shareholder 32,758 Increase (decrease) in: Accounts payable 21,152 Accounts payable - shareholder (2,176) Accrued taxes and expenses 33,513 NET CASH PROVIDED BY OPERATING ACTIVITIES 1,698,123 CASH FLOWS FROM INVESTING ACTIVITIES Purchase of property and equipment (697,788) Notes receivable - related party 71,788 Proceeds from sale of equipment 88,198 2023 $ 2,660,639 1,773,636 116,295 1,134,615 40,295 (71,426) (597,379) (9,824) 12,451 5,059,302 (1,170,333) (71,788) 0 NET CASH USED IN INVESTING ACTIVITIES (537,802) (1,242,121) CASH FLOWS FROM FINANCING ACTIVITIES Principal payments on debt and finance leases (735,051) (784,576) Distributions Payable 0 (887) Distributions paid (1,236,787) (1,086,150) NET CASH USED IN FINANCING ACTIVITIES (1,971,838) (1,871,613) NET INCREASE (DECREASE) IN CASH (811,517) 1,945,568 CASH AT BEGINNING OF YEAR 3,946,742 2,001,174 CASH AT END OF YEAR $3,135,225 $ 3,946,742 See accompanying notes and independent accountant's review report. 5 JERRY DAVID ENTERPRISES, INC. STATEMENTS OF CASH FLOWS (CONTINUED) Supplemental Disclosure of Cash Flow Information: Cash paid during the year for: Interest Income taxes Supplemental Disclosure of Non -Cash InvestinV,_ and Financing Activities: Equipment acquired through issuance of debt Years Ended December 31, 2024 2023 $ 97,762 $1,750,000 $ 78,446 $ 0 See accompanying notes and independent accountant's review report. 6 JERRY DAVID ENTERPRISES, INC. NOTES TO FINANCIAL STATEMENTS December 31, 2024 and 2023 Note 1— Summary of Significant Accounting Policies Business Activity Jerry David Enterprises, Inc. (the Corporation) is a contractor engaged in excavating, trucking, and the manufacture of asphalt and ready -mix concrete. All projects are located in Southern Indiana. Basis of Accounting The accompanying financial statements have been prepared using the accrual basis of accounting whereby all revenues are recorded when earned and all expenses recorded when incurred. Revenue and Cost Recognition The manufacturing and installation of asphalt and concrete is a single performance obligation that is satisfied over time. Payment is also due overtime in installments, based on project phases as specified in the contract, with a final payment due at the time the project is completed and ready for use. Revenues from cost plus percentage fee projects are recognized on the basis of costs incurred during the period plus the percentage fee earned. Revenues from fixed price contracts are recognized using the percentage of completion method, measured by the percentage of cost incurred to date to management's estimated total cost for each contract. This method is used because management considers total cost to be the best available measure of progress on the contracts. Because of the inherent uncertainties in estimating costs, it is at least reasonably possible that the estimates used will change within the near term. Contract costs include all direct material and labor costs and those indirect costs related to contract performance, such as equipment related costs, payroll taxes and insurance. Selling, general and administrative costs are charged to expense as incurred. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions and estimated profitability may result in revisions to costs and income, which are recognized in the period in which revisions are determined. Changes in estimated job profitability resulting from job performance, job conditions, contract penalty provisions, claims, change orders, and settlements, are accounted for as changes in estimates in the current period. 7 JERRY DAVID ENTERPRISES, INC. NOTES TO FINANCIAL STATEMENTS December 31, 2024 and 2023 Note 1 Summary of Significant Accounting Policies (Continued) Accounts Receivable On January 1, 2023, the Company adopted new accounting guidance related to the allowance for credit losses on accounts receivable. The impact of adoption of this standard was not material to the financial statements and had no impact on the opening balance of retained earnings. The Company extends credit on a short-tenn basis to customers in the nonnal course of business. Accounts receivable are stated at their estimated collectible amounts and comprise amounts billed and currently due from customers. The carrying amounts of accounts receivable are reduced by an allowance that reflects management's best estimate of the amounts that will not be collected. Collections from customers are continuously monitored and an allowance for credit losses is maintained based on historical experience adjusted for current conditions and reasonable forecasts taking into account geographical and industry -specific economic factors. The Company also considers any specific customer collection issues. Since the Company's accounts receivable are largely similar, the Company evaluates its allowance for credit losses as one portfolio segment. At origination, the Company evaluates credit risk based on a variety of credit quality factors including prior payment experience, customer financial information, credit ratings, probabilities of default, industry trends and other internal metrics. On a continuing basis, data for each major customer is regularly reviewed based on past -due status to evaluate the adequacy of the allowance for credit losses; actual write-offs are charged against the allowance. At December 31, 2024 and 2023 the balance of the allowance for credit losses was $134,747 and $129,691, respectively. Write-offs to the allowance for credit losses were $5,056 and $75,831 for years ending December 31, 2024 and 2023, respectively. Property and Equipment Property and equipment, consisting of buildings, equipment, and vehicles are stated principally at cost. Provisions for depreciation of property and equipment have been computed on the straight-line method at rates based on their estimated useful lives. Buildings and improvements 7 — 40 years Plant and equipment 3 — 40 years Excavating equipment 7 years Vehicles 5 — 7 years Furniture and fixtures 5 —10 years Leased equipment 5 — 7 years JERRY DAVID ENTERPRISES, INC. NOTES TO FINANCIAL STATIa,MENTS December 31, 2024 and 2023 Note 1— Summary of Significant Accounting Policies (Continued) Accounting for Impairment of Long -Lived Assets The Company evaluates long-lived assets held and used for impainnent whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Impairment is recognized when the carrying amounts of such assets cannot be recovered by the discounted net cash flows, they will generate. There were no impairment losses recognized for the years ended December 31, 2024 and 2023. tlse of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to snake estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Variable Interest Entity As a result of common ownership and a lease agreement between the Company and 3D Leasing, LLC. the Company has determined it is the primary beneficiary under this lease agreement. The Company adopted Accounting Standards Update No. 2014-07, Consolidation (Topic 810): Applying Variable Interest Entities Guidance to Common Control Leasing Arrangements, issued by the Financial Accounting Standards Board. Under 2014-07, nonpublic companies may elect not to consolidate variable interest entities in certain common control leasing arrangements. Accordingly, the Company has not consolidated the 3D Leasing, LLC, in the financial statements. 9 JERRY DAVID ENTERPRISES, INC. NOTES TO FINANCIAL STATEMENTS December 31, 2024 and 2023 Note 1— Summary of Significant Accounting Policies (Continued) Leases The Company leases office, warehouse and manufacturing real estate, equipment and vehicles. The Company detennines if an arrangement is a lease at inception. Finance leases are included in property and equipment on the balance sheet. The Company has not adopted the lease standard for office, warehouse and manufacturing real estate operating leases, therefore the balance sheet omits the right -of -use asset (ROU) and lease liabilities for these leases. The impact on the balance sheets for the omission of the operating lease liabilities and ROU assets is not readily determinable and the impact of the omission on the statements of income and retained earnings is not material. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term using the implicit rate of the lease in detennining the present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Lease teens may include options to extend or tenninate the lease when it is reasonably certain that the option will be exercised. Lease expense for lease payments is recognized on a straight-line basis over the lease teen. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company has elected to apply the short-term lease exemption to all classes of underlying assets. Date of Management's Review Subsequent events have been evaluated through \larch 20, 2025, the date on which the financial statements were available to be issued. 10 JERRY DAVID ENTERPRISES, INC. NOTES TO FINANCIAL STATEMENTS December 31, 2024 and 2023 Note 2 — Property and Equipment Property and equipment at December 31, 2024 and 2023 consisted of the following: 2024 2023 Land $ 59,233 $ 59,233 Buildings and improvements 589,501 574,501 Furniture and fixtures 195,900 170,856 Asphalt plant and equipment 6,101,539 3,913,850 Concrete plant and equipment 3,792,608 3,792,608 Vehicles 4,160,356 4,009,103 Excavating equipment 1,179,029 1,179,029 Landscaping equipment 49,412 32,078 Leased equipment 538,895 538,895 Sweeper equipment 38,520 38,520 Total 16,704,993 14,308,673 Accumulated depreciation (10,696,101) (8,992,684) Property and Equipment, net $ 6,008,892 $ 52315,989 Note 3 — Leases The Company has finance leases for certain vehicles. The leases have remaining lease terms of 5 to 25 months. Occasionally, the Company will temporarily rent equipment on a as needed basis for specific contracts. Total equipment rent expense for these items was $66,850 and $23,357 for the years ended December 31, 2024 and 2023, respectively. The Company rents a hydro -excavating truck on an as needed basis from an entity common control. The cost of the rent was $46,837 and $21,016 for the years ended December 31, 2024 and 2023, respectively. The Company leases real estate from David Properties, LLC, an entity under common control of the owner, under a lease agreement. The lease has a term of 1 year. The lease is classified as a short -tern lease and, therefore, is not recognized on the balance sheet. The total short-term lease expense under this agreement for the years ended December 31, 2024 and 2023 was $277,536 and $183,768, respectively. The remaining lease payments due in 2025 are $237,888. The Company leases Real Estate from JK, LLC, an entity under common control of the owner, under a lease agreement. The lease has a tenn of 1 year. The lease is classified as a short-term lease and, therefore, is not recognized on the balance sheet. The total short -teen lease expense under this agreement for the years ended December 31, 2024 and 2023 was $18,000 and $6,000, respectively. The remaining lease payments due in 2025 are $6,000. JERRY DAVID ENTERPRISES, INC. NOTES TO FINANCIAL STATEMENTS December 31, 2024 and 2023 Note 3 — Leases (continued) The following table provides quantitative infonnation concerning the Company's operating and finance leases for the years ended December 31, 2024 and 2023. 2024 2023 Finance lease: Amortization of right -of -use assets $ 22,414 $ 41,487 Interest from lease liabilities 5,689 9,295 Total lease cost $ 28,103 $ 50,782 Cash flow and other information related to leases are included in the following table for the years ended December 31, 2024 and 2023: 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases (i.e. Interest) $ 5,689 $ 9,295 Financing cash flows from finance leases (i.e. principal portion) $ 21,225 $ 19,623 The weighted -average lease terms and discount rates for operating and finance leases are presented in the following table as of December 31, 2024 and 2023: 2024 2023 Weighted -average remaining lease tenn in years: Finance leases 1.91 2.55 Weighted -average discount rate applied: Finance leases 12.31 % 11.370o 12 JERRY DAVID ENTERPRISES, INC. NOTES TO FINANCIAL STATEMENTS December 31, 2024 and 2023 Note 3 — Leases (concluded) Minimum future lease payments under capital leases as of December 31, 2024 for each of the next three years and in the aggregate are: Years Ending December 31, Amount 2025 $ 18,524 2026 14,429 2027 2,623 Total undiscounted cash flows 35,576 Less: present value discount (5,792 Amount recogiiized on balance sheet The right -of -use assets for finance leases are presented with property and equipment on the balance sheet and included with vehicles in Note 2. 13 JERRY DAVID ENTERPRISES, INC. NOTES TO FINANCIAL STATEMENTS December 31, 2024 and 2023 Note 4 — Long -Term Debt Long-tenn debt at December 31, 2024 and 2023 consisted of the following: 2024 2023 Note payable, payments of $7,019 per month including interest at 6.35%, due December 12, 2027 (A) $ 229,272 $ 296,329 Note payable, payments of $2,809 per month including interest at 4.45%, due June 10, 2024 (A) 0 79,548 Note payable, payments of $2,649 per month including interest at 3.90%, due August 8, 2024 (A) 0 80,256 Note payable, payments of $3,549 per month including interest at 2.49%, due September 14, 2024 (A) 0 24,376 Note payable, payments of $3,035 per month including interest at 3.95%, due February 14, 2024 (A) 0 16,094 Note payable, payments of $5,034 per month, including interest at 3.20% due November 2, 2024 (A) 59,509 78,071 Note payable, payments of $2,709 per month including interest at 3.40%, due June 13, 2024 (A) 0 6,039 Note payable, payments of $3,455 per month including interest at 4.16%, due September 14, 2024 (A) 0 101,272 Note payable, payments of $2,173 per month including interest at 3.90%, due January 27, 2025 (A) 52,039 75,538 14 JERRY DAVID ENTERPRISES, INC. NOTES TO FINANCIAL STATEMENTS December 31, 2024 and 2023 Note 4 — Long -Term Debt (Continued) 2024 2023 Note payable, payments of $4,474 per month including interest at 3.35%, due April 15, 2024 (A) 561,156 605,656 Note payable, payments of $4,392 per month including interest at 3.15%, due June 5, 2025 (A) 126,478 174,302 Note payable, payments of $4,491 per month including interest at 3.25%, due July 20, 2027 (A) 480,926 518,253 Note payable, payments of $6,348 per month including interest at 3.15%, due July 30, 2025 (A) 188,657 257,608 Note payable, payments of $4,767 per month due September 24, 2024 (A) 0 42,872 Note payable, payment of $155,150. Interest only payments at 3.20%, final principal and accrued interest payment due November 1, 2026 (A) 96,168 126,131 Note payable, payment of $182,031. Interest only payments at 3.20%, final principal and accrued interest payment due November 1, 2026 (A) 107,955 127,821 15 JERRY DAVID ENTERPRISES, INC. NOTES TO FINANCIAL STATEMENTS December 31, 2024 and 2023 Line of Credit for $2,500,000. Balance as of December 31, 2024 of 1,750,000. Interest only payments at 7.642, final principal and accrued interest payment due January 28, 2030 (A) 1750,000 0 Total Loans 3,652,160 2,610,166 Less current maturities 1,178,051 678,697 Total Long -Term Debt 2,474.109 $ 1,931.469 (A) Secured by substantially all of the Corporation's assets. N11aturities of long-term debt are as follows: Years Ending December 31, 2025 2026 2027 2028 Thereafter Amount $ 1,178,051 403,292 794,932 190,990 1,084,895 $ 3,652,160 Interest expense for the years ended December 31, 2024 and 2023, was $97,762 and $78,446, respectively. 16 JERRY DAVID ENTERPRISES, INC. NOTES TO FINANCIAL STATEMENTS December 31, 2024 and 2023 Note 5 — Related Party Transactions Shareholder Notes Receivable The Corporation holds notes receivable from shareholders. These notes are interest free. Repayments are made at the discretion of the shareholder. There are no repayment terms or due on demand provisions. Amounts due from Diane Folz, a 33% shareholder of the Corporation, were $26,748 and $9,097 for years ending December 31, 2024 and 2023, respectively. Amounts due from Jon David, a 33% shareholder of the Corporation were $24,609 and $39,096 for years ending December 31, 2024 and 2023, respectively. Amounts due from Jerry David II, a 33% shareholder of the Corporation, were $28,753 and $64,675 for years ending December 31, 2024 and 2023, respectively. Other Assets The Corporation has an accounts receivable due from JK, LLC, a Company wholly owned by the owners of Jerry David Enterprises, Inc. in the amount of $156,246 for years ending December 31, 2024 and 2023. The Corporation also has an account receivable due from David Properties, LLC, a Company owned by the owners of Jerry David Enterprises, Inc. for years ending December 31, 2024 and 2023 in the amount of $0 and $71,788, respectively. The receivables are interest free. Repayments are made at the discretion of the shareholders. There are no repayment terms or due on demand provisions. Property Rental The Corporation leases the land for its facility annually from a related entity through common ownership. The Corporation is responsible for all taxes, insurance, and maintenance. Rent expense under this lease was $277,536 and $183,768 for years ending December 31, 2024 and 2023, respectively. Note 6 — Concentration of Revenue Risk The Corporation had one customer in 2024 and 2023 who account for approximately 21% and 38% of its accounts receivable, respectively. 17 JERRY DAVID ENTERPRISES, INC. NOTES TO FINANCIAL STATEMENTS December 31, 2024 and 2023 Note 7 — Income Taxes The Corporation has elected, and the shareholders have consented to be taxed under the provisions of Subchapter S of the Internal Revenue Code Section 1372(a) for the year ended December 31, 1985 and subsequent years. Under this election, the Corporation is not subject to Federal income taxes. The income of the Corporation is included in the current taxable income of the individual shareholders. Therefore, no provision or liability for federal income taxes is reflected in the accompanying financial statements. Effective January 1, 2023, the Company has made a Pass-Tlirough Entity Tax (PTE Tax) election in accordance with SB 2 (Public Law 1) under which the Company incurs and pays a state income tax that would otherwise be paid individually by its stockholders. In accordance with the PTE Tax election, the Company computes a state income tax in the amount of 3.05% of state taxable income, for tax year 2024, respectively, with its stockholders receiving a state tax credit equal to 3.05% times their distributive share of net income. The PTE tax is recorded as state income tax expense in the statement of income. The PTE Tax election is made annually. The Company has evaluated their exposure resulting from uncertain tax positions and determined the exposure is not material to the financial statements. Therefore, these financial statements do not include a liability for unrecognized tax positions. Upon recognition of a liability for an unrecognized tax benefit the Company would recognize interest accrued in interest expense and penalties in operating expenses. The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. Note 8 — Compensated Absences Employees of the Company are entitled to paid vacation, paid sick days, and personal days off, depending on job classification, length of service, and other factors. The Company accrued an expense to recognize the potential compensated absences in the amount of $95,021 and $111,375 for years ending December 31, 2024 and 2023, respectively. Note 9 — 401(k) Profit Sharinp, Plan The Company has a 401(k)-profit sharing plan which covers substantially all eligible employees. The Company may snake additional contributions to the 401(k) plan at the owner's discretion. Profit sharing costs were $150,810 and $154,026 for years ended December 31, 2024 and 2023, respectively. 18 JERRY DAVID ENTERPRISES, INC. NOTES TO FINANCIAL STATEMENTS December 31, 2024 and 2023 Note 10 - Concentration of Credit Risk The Company maintains its cash in bank deposit accounts. The accounts are insured by the Federal Deposit Insurance Company (FDIC) up to $250,000 per bank at December 31, 2024 and 2023. Cash deposits at December 31, 2024 and 2023 in excess of federally insured amounts were $2,744,511 and $3,668,956, respectively. 19 - - - - - SUPPLEMENTARY INFORMATION - - - - - V-CPA KEMPER GROUPLLP Certified Public Accountants and Consultants INDEPENDENT ACCOUNTANT'S REVIEw REPORT ON SUPPLEMENTARY INFORMATION Board of Directors Jerry David Enterprises, Inc. 3600 Broadway Avenue Evansville, Indiana 47712 Our report on our review of the basic financial statements of Jerry David Enterprises, Inc. for 2024 and 2023 appears on pages one and two. The objective of that review was to perform procedures to obtain limited assurance as a basis for reporting whether we were aware of any material modifications that should be made to the financial statements for them to be in accordance with accounting principles generally accepted in the United States of America. The supplementary information included in the accompanying schedules on pages 21 and 22 is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information is the responsibility of management and was derived from, and relates directly to, the underlying accounting and other records used to prepare the financial statements. The supplementary information has been subjected to the review procedures applied in our review of the basic financial statements. Except for the effect of not accounting for operating leases in accordance with the generally accepted accounting principles, we are not aware of any material modifications that should be made to the supplementary information. We have not audited the supplementary information and do not express an opinion on such information. /6 CrA t-P March 20, 2025 Certified Public Accountants and Consultants Evansville, Indiana 7200 Eagle Crest Blvd. ■ Evansville, IN 47715-8154 Phone: (812) 421-8000 Fax: (812) 421-2292 kempercpa.com 20 JERRY DAVID ENTERPRISES, INC. SCHEDULES OF COST OF GOODS SOLD Depreciation Fuel for plant operations Equipment rental Gas, fuel, and oil Labor Licenses Materials and supplies — blacktop, excavating and concrete Payroll taxes Repairs — equipment Repairs — vehicles Lease management fees Subcontract labor Work permits Years Ended December 31, 2024 % of 2023 % of Revenue Revenue $ 1,181,922 5.08 % $ 1,032,667 3.92 % 290,679 1.25 307,958 1.17 46,837 .20 44,373 .17 812,157 3.49 936,947 3.56 4,770,375 20.51 4,993,363 18.97 55,436 .24 96,364 .37 8,851,119 38.06 134,904 .58 221,921 .95 507,135 2.18 12,169 .05 950,648 4.09 38,149 .16 $ 17,873,451 76.84 % 8,892,872 33.78 168,911 .64 273,582 1.04 669,152 2.54 26,047 .10 660,931 2.51 0 .00 $ 18,103,167 68.77 % See independent accountant's review report on supplementary information. 21 JERRY DAVID ENTERPRISES, INC. SCHEDULES OF SELLING, GENERAL AND ADNHNISTRATIVE EXPENESES Years Ended December 31, 2024 % of 2023 % of Revenue Revenue Expenses Advertising $ 21,498 .09 % $ 22,593 .09 % 11ad debts 85,169 .37 86,068 .33 Bank charges 31,266 .13 9,131 .03 Casual labor 10,321 .04 20,717 .08 Computer support 255,746 1.10 212,186 .81 Depreciation 552,375 2.38 740,969 2.81 Donations 28,440 .12 38,213 .15 Dues and subscriptions 88,280 .38 106,538 .40 Entertainment 169,997 .73 145,433 .55 Gifts and flowers 47,179 .20 76,926 .29 Insurance 1,062,274 4.57 1,089,975 4.14 Interest 97,762 .42 78,446 .30 Legal and accounting 87,617 .38 77,324 .29 Miscellaneous 33,837 .15 24,085 .09 Office salaries 912,469 3.92 838,386 3.18 Office supplies 112,923 .49 154,458 .59 Officers' salaries 984,552 4.23 724,860 2.75 Penalties 10,795 .05 2,671 .01 Physical and drug testing 8,868 .04 18,563 .07 Property damages 0 .00 12,936 .05 Rent 319,536 1.37 213,768 .81 Repairs and maintenance 389,672 1.68 125,702 .48 Taxes - other 5,876 .03 9,892 .04 Taxes - property 43,754 .19 46,881 .18 Taxes - social security/unemployment 103,645 .45 93,372 .35 401(K) match 150,810 .65 154,026 .59 Telephone 93,642 .40 91,823 .35 Travel 17,943 .08 34,544 .13 Uniforms 69,168 .30 56,993 .22 Utilities 40,788 .18 32,726 .12 Work in progress 52,001 .22 44,573 .17 Sweeper repairs 57 .00 2,915 .01 25.34 % 20.46 % $ 5,387,693 $ 5,888,260 See independent accountant's review report on supplementary information. 22