August 2026 · target close date Sept. 5
Month-End Close
Ten tracked steps, one owner each, and no step marked complete without the exception behind it resolved.
Close Progress
75%
6 of 10 steps done
In Progress
3
Steps with open items
Not Started
1
Scheduled later this cycle
Open Exceptions
2
Loan variances to resolve
Close Checklist
Progress tracked step by step, with the note that proves it
Bank reconciliations (4 accounts)Complete
Terry Tully · All accounts tied out Aug 12
Loan reconciliations (16 loans)In progress
Terry Tully · 1 exception open — $8,420 at 124 Oak
AP reviewComplete
Terry Tully · Aged AP reviewed; no items over 45 days
Accrual reviewIn progress
Terry Tully · Awaiting 3 vendor statements
Unfunded draw costsComplete
Terry Tully · $613K floated, agreed to project ledgers
Open commitmentsIn progress
Rachel Kim · 3 stale commitments pending close-out
Project budget reconciliationComplete
Sarah Ellison · 16 of 16 budgets agreed
Intercompany balancesComplete
Terry Tully · Entities netted and cleared
WIP reviewNot started
Terry Tully · Scheduled Aug 19
Cash reconciliationComplete
Terry Tully · Ties to $1.18M available
Blocking Exceptions
These must clear before the books are closed
124 Oak Street loan variance
Gulf Coast Bank — book does not agree to lender balance
931 Pine Hollow loan variance
Hancock Whitney — book does not agree to lender balance
Unfunded draw costs
Agreed to project ledgers — disclose as floated cash
Explain Any Number
Every reported figure opens to the lines that build it
Projected Cash Friday
Safe to Release Today
Currently Being Floated
This Week's Pay Run
Philosophy: every number explainable, every payment traceable. If a figure cannot be opened and proved to a document, a bank feed, or an approval, it does not belong in the close package.