The project's Budget is built and maintained by the lender to manage the disbursements and the progress of the project.
The Budget is accessible from within each project by selecting the Budget tab.
Below are clarifying details regarding the definitions and calculations of each column that may be included in your budget view.
Please Note: The columns below are controlled by the lender. Some columns may not be visibile depending on your lender's settings and preferences.
- Item No: Unique identifying number assigned to the line item
- Description of work: Description of what scope of work is being tracked by the line item (e.g., excavation)
- Total cost: The total amount that will be disbursed to complete the work associated with the line item
- Borrower equity reconciled at closing: Funds disbursed at the closing table from an equity account
- Loan advanced at closing: Funds disbursed at the closing table from the loan amount
- Borrower contribution advanced at closing: Funds disbursed at the closing table from the contribution account
- Scheduled value: Total cost + funds disbursed at closing
- Change Orders: Positive or negative value input via change order
- Revised scheduled value: Scheduled value + change orders
- Pending requests: Value of any draw requests in the submitted/pending status
- Last inspection (MM/DD/YYYY): The percentage of completed work provided by the inspector
- Completed: Disbursed amount for work completed
- Deposits: Disbursed amount for on-site material
- Total disbursed: Completed + Deposits
- Balance to finish: Revised scheduled value - total disbursed
- Retainage: Any retainage held back by the lender
- Cost Type: Direct Cost, Indirect Cost, Other Costs