Financial Management & Administration

Critical to the success of every home construction project is the processing of financial information and the management of related administrative tasks.

These tasks are seamlessly integrated into our project management activities and into our web-based construction management software, BuilderTrend.

An output from the home design & pricing stage of our process is your project’s budget/pricing estimate. This estimate is captured, at a line-item budget level, in our systems and serves as the basis for all future “estimate vs. actual” variance reporting.

All invoices received from sub-contractors are stamped, categorized against a line-item budget and then recorded in our systems. Each invoice is scrutinized against that sub-contractor’s bid as well as against the relevant budget prior to approval. Any discrepancies or disputes are resolved. As well, our field personnel separately review invoices to confirm that the work being invoiced was actually completed, and completed in a satisfactory manner.

On a monthly basis, all invoices are aggregated, reviewed again, and then submitted to you and your bank (if applicable) for approval in the form of what is called a draw. Your bank will typically send their inspector to your job for a third-party confirmation of work completed. After you and your bank agree that the draw is accurate, payment is submitted to us and we release payment to sub-contractors.

Then, we examine your job for variances in budget vs. actual costs at the line-item level. We project what costs we believe are yet to be incurred for each budget line item, giving us an up-to-date projection of cost at completion. Finally, this information is provided to you in an easy-to-read format, as well as being available to you in BuilderTrend.


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Forner-Lavoy Builders, Inc.