Monthly management report
Halverson & Delacroix LLP
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.
01 · Executive summary
Three conclusions, and the decisions they imply
- 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.
Scorecard
Scorecard
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
P&L summary — vs prior month, last year and plan
P&L summary — vs prior month, last year and plan
Month over month — vs prior period — Apr 26 vs Mar 26
| Line | Apr 26 | Mar 26 | Δ | Δ% |
|---|---|---|---|---|
| Revenue | $684,000 | $666,462 | +$17,538 | +2.6% |
| Cost of revenue | $266,760 | $259,920 | +$6,840 | +2.6% |
| Gross profit | $417,240 | $406,542 | +$10,698 | +2.6% |
| Operating expense | $331,240 | $328,360 | +$2,880 | +0.9% |
| Operating profit/(loss) | $86,000 | $78,182 | +$7,818 | +10.0% |
| Ending cash | $412,000 | $326,000 | +$86,000 | +26.4% |
Year over year — same month last year — Apr 26 vs Apr 25
| Line | Apr 26 | Apr 25 | Δ | Δ% |
|---|---|---|---|---|
| Revenue | $684,000 | $500,823 | +$183,177 | +36.6% |
| Cost of revenue | $266,760 | $195,321 | +$71,439 | +36.6% |
| Gross profit | $417,240 | $305,502 | +$111,738 | +36.6% |
| Operating expense | $331,240 | $298,282 | +$32,958 | +11.0% |
| Operating profit/(loss) | $86,000 | $7,220 | +$78,780 | +1091.1% |
| Ending cash | $412,000 | $181,518 | +$230,482 | +127.0% |
Next month forecast $702,000
Trends
Monthly revenue — last 14 closed months
Mar 25 — Apr 26 · $414,784 … $684,000
Ending cash at each month close
Mar 25 — Apr 26 · $152,449 … $412,000
03 · Cash & working capital
Cash & working capital
Opening cash $326,000 net for the month +$86,000 closing cash $412,000
$412,000 today → $542,199 in week 13 · lowest point $343,584 (week 3) · no cash-floor breach
View weekly schedule
| Week | Opening | Receipts | Disbursements | Ending |
|---|---|---|---|---|
| 1 | $412,000 | $157,968 | $180,773 | $389,195 |
| 2 | $389,195 | $157,968 | $180,773 | $366,390 |
| 3 | $366,390 | $157,968 | $180,773 | $343,584 |
| 4 | $343,584 | $157,968 | $138,106 | $363,446 |
| 5 | $363,446 | $157,968 | $138,106 | $383,307 |
| 6 | $383,307 | $157,968 | $138,106 | $403,169 |
| 7 | $403,169 | $157,968 | $138,106 | $423,030 |
| 8 | $423,030 | $157,968 | $138,106 | $442,891 |
| 9 | $442,891 | $157,968 | $138,106 | $462,753 |
| 10 | $462,753 | $157,968 | $138,106 | $482,614 |
| 11 | $482,614 | $157,968 | $138,106 | $502,476 |
| 12 | $502,476 | $157,968 | $138,106 | $522,337 |
| 13 | $522,337 | $157,968 | $138,106 | $542,199 |
What changed and why
What changed and why
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.
✓ second model confirmed · General ledger · Time Entries · Apr 2026 · QuickBooks · Project Brightline · April
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.
second model disagrees — review · General ledger · WIP Maritime · Apr 2026 · QuickBooks · Matter Maritime · April
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.
✓ second model confirmed · General ledger · Write Downs · Apr 2026 · QuickBooks · Billing Review · April
04 · Decisions & follow-ups
Decisions & follow-ups
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
Open · outcome pending · You · Review by 05 Jun 2026
shift two associates off the stalled Henley matter onto the billable backlog to lift utilization toward the 75% target.
Reviewed · Grace Halverson (Partner) · Review by 16 Jun 2026
Forecast reliability
Forecast reliability Inferred
Your revenue forecasts have run 8% optimistic over the last 6 months.
How we measure it: every past monthly forecast is scored against the month that actually closed — out-of-sample, never fit to the answer.
Sources & evidence
- General ledger · Time Entries · Apr 2026
- QuickBooks · Project Brightline · April
- General ledger · WIP Maritime · Apr 2026
- QuickBooks · Matter Maritime · April
- General ledger · Write Downs · Apr 2026
- QuickBooks · Billing Review · April