Cedar Plaza Builders

What happened

1. Retainage outstanding climbed to $214K — the Maple Street mixed-use job hit substantial completion but the 10% retainage won't release until the punch list closes in Q3. That cash is earned but uncollectable for ~60 more days; the 13-week forecast now models the release in week 11, not week 4.
2. Costs ran ahead of billings on the Cedar Plaza job — $186K of work-in-progress is unbilled because the April draw missed the owner's pay-app cutoff. The worker called it a one-cycle timing slip; the supervisor flagged a pattern of late pay-apps on this GC, so it routed to your inbox.
3. Blended gross margin held at 18.0% vs the 16.8% bid plan — the Riverside change orders were approved at full markup and the self-perform concrete crew beat the subcontracted estimate on two pours.

The numbers

What to expect

Cash $918,000 today → $924,332 in week 13; the lowest point is $477,538 in week 6. No cash-floor breach inside the horizon.

What needs your decision

· Retainage outstanding climbed to $214K — the Maple Street mixed-use job hit substantial completion but the 10% retainage won't release until the punch list closes in Q3. That cash is earned but uncollectable for ~60 more days; the 13-week forecast now models the release in week 11, not week 4. — You · 05 Jun

· Unbilled work in progress on the Riverside job crossed 24 days — move the June progress-billing cut-off to the 25th so the draw lands in the owner's July pay-app cycle? — Controller · 20 May