I would guess that the shrinkage refers to soil excavated from the site and moved to another location on the site would shrink 0.10 - 0.15 feet per foot when compacted as specified (90 or 95% of max).
Preparation and compaction of subgrade may also cause the ground to subside since the in-situ density may be low. Simply driving the scraper over the site a number of times may cause some compaction of the subgrade. Rolling with a sheepsfoot will almost certainly result in additional subsidence.
As stated above, a soils report is needed for the "borrow site" (probably not a quarry) to determine the following:
a)suitability for use
b)shrinkage or swell when excavated, placed and compacted
c)maximum density and optimum moisture content for compaction
However, unless you are working for the contractor, location of a borrow site and precise estimation of the quantity at the borrow site is usually left up to the contractor. Bidding and payment is usually based on accepted quantities placed on the job.
For this job, I would assume that you move existing dirt around on the site, achieve desired subgrade compaction using rollers or scrapers and then calculate some subsidence amount. This will give your subsided subgrade elevation. Then just calculate the theoretical amount of fill required to achieve the finished grade.