Exception ledger
Each row states what was claimed, what the contract and the supporting documents actually support, and the difference between them.
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 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.