This Month · Monthly Finance

Six Peak Monthly Finance

Last meeting: 2026-08-31 — Six Peak Monthly Finance call

◆ 0 active to-dos ▲ 0 goals set ● Last meeting 2026-08-31

Action Items

Open To-Dos

Goals Set

Meetings Logged

Meeting Summary

2026-08-31 — Six Peak Monthly Finance call

The meeting reviewed updated financial reporting, job profitability, funding reconciliations, and near-term cash management.
Year-to-date performance was ahead of budget, primarily because bonding profit on Francis and Miverton was excluded from the budget and billing was more aggressive than the budget curve.
Nelrose was operating at a loss because of personnel costs disproportionate to the job, including Joe’s approximately $250,000 compensation, Dorian’s allocation, and Henry’s assignment.
Joe’s compensation will continue through year-end under the restructuring arrangement and is expected to change when he leaves.
Allocations are expected to improve as Francis, Riverton, and Lexington begin, while construction-specific accounting software is being evaluated to automate payroll and job-cost allocation.
The annual budget remains the basis for year-to-date comparisons, while monthly reforecasting is primarily internal.
A discrepancy remained between the portal’s approximately $400,000 consolidated 2026 income projection and the updated file’s approximately $1.2 million year-to-date figure.
Potential factors included bonding revenue timing and the $299,000 non-cash Aimwell loan write-off, which was excluded from the budget.
Francis funding and closing costs remained unresolved.
A $576,000 rate-lock deposit shared with MRK was apparently not credited to the borrower or reflected in closing costs, and a separate $98,000 amount removed from the closing statement also required recovery or inclusion in the first draw.
The reconciliation compared the counterparty’s cost schedule with approximately $13 million recorded in Yardi, with material differences and ledger treatment still under review.
Wilton and Reading had funded their outstanding amounts, leaving GPSP with excess cash.
The proposed approach was to retain approximately four months of Reading debt-service payments as a reserve and return remaining funds to Grandview and Stain, subject to reviewing Reading’s NOI, debt service, and reserve requirements.
Discussions with Goldberg regarding a Reading buyout and the residual at Francis were continuing, although Stain was not expected to have significant appetite for the transaction.

Action Items

From 2026-08-31

Chris Aiello Chris Aiello will discuss more accurate project staffing allocations with Grady as new jobs begin
Chris Andresen Chris Andresen will continue evaluating construction-specific accounting software for automated payroll and job-cost allocations
Chris Aiello Chris Aiello will investigate the discrepancy between the updated model and the board portal projection
Chris Andresen Chris Andresen will send the remaining funding requests after the four agreements being handled by Jane are signed
Chris Andresen Chris Andresen will determine how the $576,000 Francis rate-lock deposit was treated and ensure it is reflected in the appropriate draw or financing records
Chris Andresen Chris Andresen will resolve how the $98,000 Francis closing-statement amount will be recovered or included in the first draw
Chris Andresen Chris Andresen will prepare and send Chris Aiello the draft analysis covering the reconciliation and the question regarding the $98,000 item.
Chris Aiello Chris Aiello will review the draft and provide commentary before distribution.
Chris Andresen Chris Andresen will complete the cost reconciliation against the Yardi figures.
Chris Aiello Chris Aiello will verify whether May partner draws or personal-card reimbursements remain outstanding.
Chris Andresen Chris Andresen will send Chris Aiello the supporting detail for the outstanding payment review.
Chris Aiello Chris Aiello will investigate the discrepancy between the portal, the model, and the submitted math.
Chris Aiello Chris Aiello will review Reading’s NOI, debt service, and reserve needs to determine how much GPSP cash should be retained.
Chris Aiello Chris Aiello will send the remaining GPSP cash to Grandview and Stain after determining the appropriate Reading reserve.
Chris Andresen Chris Andresen will send the Francis draft to Chris Aiello for review and distribution.

Files Referenced

Needed to keep moving

No files referenced.

To-Dos

Active this month

Chris Andresen Chris Andresen will adjust the forecast to better allocate miscellaneous credit-card and job-related expenses as discussed from action item
Chris Andresen Chris Andresen will compile and deliver Francis backup through May 2026 for MRK from action item

6/5/26
Chris Andresen Chris Andresen will schedule a follow-up call with Pedro to confirm the process for updating internal budgets to reflect buyouts and actual costs from action item
Chris Andresen Chris Andresen will run a mock budget adjustment on Ramsgate with Grady to demonstrate the internal change process from action item
Chris Andresen Chris Andresen will discuss the budget revision process and employer burden treatment with Pedro. from action item
Chris Andresen Chris Andresen will send the April billings to Chris Aiello after his review so forecasts can be updated. from action item
Chris Aiello Chris Aiello will attempt to delete and recreate Chris Andresen’s JPMorgan user to resolve access issues. from action item
Chris Andresen Chris Andresen will set up a centralized receipts inbox (e.g., receipts@lv.com) and configure Claude or a filing process to capture emailed receipt photos from action item
Chris Aiello Chris Aiello will evaluate card options and think through how to implement job-specific subcards from action item
Grady Grady will review recent larger LV card charges and identify items billable to jobs for the past months from action item
Grady Grady will code credit-card transactions and jobs more strictly for the current month and the next month until the new card system is in place from action item
Chris Aiello Chris Aiello will send the updated pre-construction agreement to Chris Andresen and Robert for entry and accrual from action item
Chris Aiello Chris Aiello will schedule a call with Pedro to update internal budgets to reflect buyouts from action item
Chris Andresen Chris Andresen will review the tax materials and bank-account activity to produce the requested equity activity by partner and reconcile the tax provider's submission from action item
Chris Andresen Chris Andresen will call the Reseda capital (issue the capital call) after confirming the contract amount from action item
Chris Andresen Chris Andresen will follow up on the last capital call and the underfunding from MRK from action item
Chris Andresen Chris Andresen will send Aiello and Bob an email confirming he completed the tax work and submitted asset schedules to CBEs from action item

Goals

Organizational priorities

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