A project can be on budget and still have a cash problem. The distinction is timing: vendor payments, draw reimbursement, committed equity and available operating liquidity rarely move on the same day.
Start with a dated cash position
Capture unrestricted cash by entity, restricted balances that cannot fund ordinary costs, pending lender reimbursements and unfunded equity commitments. Use a specific as-of date rather than mixing month-end balances with midmonth invoices.
Build one rolling view for every active project
For each project, map expected payments and the anticipated date of related debt proceeds. Put equity needs on their own line instead of assuming a draw reimburses costs immediately.
At portfolio level, distinguish project cash needs from general partner contributions and the corporate overhead that depends on developer fees.
- Weekly cash buckets for the first 13 weeks
- Committed costs and likely change orders
- Draw submission, approval and funding dates
- Minimum liquidity and contingency thresholds
Stress-test timing instead of only budgets
Run cases in which funding is delayed 15 or 30 days, contingency is consumed faster than planned, or closing timing shifts. Show the lowest projected cash balance, not just the quarter-end position.
Make it a monthly management habit
Assign each assumption an owner, reconcile the forecast to current accounting records, and explain what changed since the previous version. The goal is a trusted operating conversation, not a prettier spreadsheet.
Continue the conversation
What does this look like across your portfolio?
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