CEO BRIEF · ONE PAGE
Halverson & Delacroix LLP
April 2026 · Professional practice
Composed from the reviewed close. Same facts as the management report — one page.
What happened
- Billable utilization slipped to 72% in April from 76% — two senior associates rolled off the Brightline engagement before the next matter staffed, leaving ~120 bench hours. At the blended rate that is ~$54K of unrealized revenue for the month.
- Unbilled WIP grew to $298K — the Maritime arbitration matter has 33 days of work-in-progress not yet invoiced pending the monthly bill review. The worker treated it as normal cycle timing; the supervisor flagged the aging on this client, so it routed to your inbox to decide whether to bill interim.
- Realization held at 91% vs the 89% plan — the new matter-level scope sign-off cut write-downs on the Halverson and Delacroix engagements, so more of the recorded hours billed at standard rate.
The numbers
Cash status
Cash-positive
Revenue
$684,000
-$22,000 · -3.1% vs plan
Monthly outflow
$598,000
-$9,000 · -1.5% vs plan
Gross margin
61.0%
DSO / DPO (days)
54 / 24
What to expect
Cash $412,000 today → $542,199 in week 13; the lowest point is $343,584 in week 3. No cash-floor breach inside the horizon.
What needs your decision
· Billable utilization slipped to 72% in April from 76% — two senior associates rolled off the Brightline engagement before the next matter staffed, leaving ~120 bench hours. At the blended rate that is ~$54K of unrealized revenue for the month. — You · 05 Jun