Construction live
Percent-complete WIP, backlog, change orders, and over/under billings.The WIP schedule below is formatted the way a bonding agent and a CPA read it — percent-complete revenue against billings, so over- and under-billings are explicit. This is the schedule that protects (or sinks) your bonding capacity.
WIP schedule
5 active jobs · percent-complete revenue vs billings| Job | Contract | % complete | Billed | Earned | Over / (Under) |
|---|---|---|---|---|---|
| Riverside Medical OB | $8,400K | 62% | $5,460K | $5,208K | $252K |
| Gateway Logistics Park | $12,200K | 38% | $4,880K | $4,636K | $244K |
| Cedar Heights Apartments | $15,800K | 71% | $10,428K | $11,218K | ($790K) |
| Northpoint Retail | $4,600K | 88% | $4,416K | $4,048K | $368K |
| Summit Civic Center | $21,400K | 22% | $4,922K | $4,708K | $214K |
Backlog walk
Signed backlog, month over month ($M)What the model sees
Grounded read on the WIP bookOver-billing risk: Northpoint Retail is billed $368K ahead of earned revenue at 88% complete. That's borrowed cash, not profit — if costs run over on the back third it reverses into a loss. Verify the cost-to-complete before booking the margin.
Cedar Heights Apartments is under-billed by $790K — you're financing the owner. Catch up billings to the schedule of values this cycle; it's the cheapest working-capital fix on the board.
Backlog is $47.9M and the book is well-diversified across 5 active jobs. Backlog-to-revenue gives ~1+ year of coverage — defend change-order recovery (approved vs submitted) before chasing new bids; recovered COs are pure margin.