Exception ledger
Each row states what was claimed, what the contract and the supporting documents actually support, and the difference between them.
Application 14 bills 90.8 percent of the adjusted contract against an observed 76.7 percent complete on Aug 27 2026
Why it matters Front loading moves the contractor's risk onto the owner. If the contractor leaves the job, the remaining money will not buy the remaining work, and that gap is only visible before it is paid.
Line 2 (Structural steel) is billed to $5,220,646 against an adjusted scheduled value of $4,789,583
Why it matters A schedule-of-values line cannot be worth more than its scheduled value plus the approved change orders against it. Anything above that is money claimed for scope that has not been priced or approved.
Line 1 (General conditions) is billed to $4,348,120 against an adjusted scheduled value of $4,102,000
Why it matters A schedule-of-values line cannot be worth more than its scheduled value plus the approved change orders against it. Anything above that is money claimed for scope that has not been priced or approved.
Line 1 is billed $246,120 above its base value while change orders totalling $215,694 on this line are still unapproved
Why it matters Paying against a pending change order concedes the change order. The owner loses the ability to negotiate the price after the work has been paid for.
Supplier invoice invoice_glazing_4471.pdf appears on applications 2 and 3 for the same amount
Why it matters The same invoice appears as backup on two draws for the same amount. Either the material was billed twice or the backup is wrong, and both need answering before payment.
Retainage withheld on application 14 is $8,538,296 against $13,771,445 required at 10.0 percent
Why it matters Retainage is the owner's only remaining leverage at closeout. Under-withholding gives it away quietly, one draw at a time, and it is almost never noticed until the punch list stalls.
Application 10 was paid on Jul 26 2026 and no unconditional lien waiver has been received for it
Why it matters Payment without an unconditional waiver leaves the owner exposed to a lien for work already paid for. It is the single most common way an owner pays twice.
$110,917 of stored materials claimed on line 5 with no supplier invoice or bill of sale in the application
Why it matters Stored materials are paid for before they are installed, so the only protection is proof the material exists, is paid for, and is titled to the project.
$74,500 of stored materials claimed on line 5 under a contract that does not permit billing for stored materials
Why it matters The contract does not permit billing for materials before installation. Paying anyway waives a term the owner negotiated.
$74,500 of stored materials claimed on line 5 under a contract that does not permit billing for stored materials
Why it matters The contract does not permit billing for materials before installation. Paying anyway waives a term the owner negotiated.
Line 3 reports $743,879 complete to date, below the $799,870 reported on the previous application
Why it matters A cumulative figure that falls means an earlier application overstated progress, or the schedule of values has been quietly re-cut between draws. Either one changes what was already paid.