Author: Renée J. Schomp, Director
Are you gearing up for an ADU project, and want to make sure to track your spending and budget throughout the build? We’re making it as easy as possible for you to do just that with our new Editable ADU Budget Template Spreadsheet, available for free download right here!
There are a few reasons I’m really excited about this new tool for your ADU toolkit:
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Helps you think ahead about budget line items: This provides you with a very detailed list of possible line items for your ADU build that you might not otherwise think of from Day 1. For example, your project might require random things like Dumpster & Removal; Scaffolding Rental; Crawlspace Insulation; Decorative Plaster; and all kinds of other line items.
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Helps you track in real time if you’re going over budget: The spreadsheet prompts you to track your projected budget against your actual spending throughout the course of the entire build – so you won’t be surprised later if you are over budget.
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Helps you manage your vendor payments: Columns are included for amounts due over the course of the project, so you can be sure to track how much you’ve paid a certain vendor and when your next payment is due.
Instructions for use of this spreadsheet:
When you open up the spreadsheet from this link, the first thing you’ll want to do is make a copy of it for yourself. You can do so by going to “File → Make a Copy” in the Menu at the top left-hand corner.
Once you make a copy of the spreadsheet, it will be unlocked and you can edit it to your heart’s content! Make sure not to miss that there are THREE separate “sheets” within the document, labeled:
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How to use this spreadsheet
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Budget Roll Up
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Line Item Budget
The Budget Roll-Up Sheet is largely comprised of amounts pulled from the second sheet, which is the Line Item Budget Sheet. Most of your work will be done on the Line Item Budget Sheet.
Do not modify any cells that are shaded in any way – these are automated calculation fields.
Within the Line Item Budget Sheet, you can enter the following:
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ESTIMATED COSTS – This is your projected budget. For each line item you have a space to enter Materials Cost and Labor Cost. You do not need to enter the total – this is calculated for you. The subtotal for each category is calculated and carried onto the Budget Roll Up Sheet for quick reference. You do NOT need to enter 0 for any items you are not including in the budget, the totals are calculated presuming 0s where spaces are empty.
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ACTUAL COST – This is your billed amount. Enter invoices as you receive them on the appropriate line. Subtotals are calculated automatically.
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VARIANCE – This is a calculation showing the difference between the budgeted total and the invoiced total.
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CURRENT PAID – This is the amount you have spent so far. Enter payments on the appropriate line item.
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AMOUNT DUE – This is a calculation column showing invoiced amount minus amount you have paid.
We hope you find this new tool in our ADU toolkit useful, and don’t forget to check out the many other resources we have available to support you on our ADU Resource page!
For individualized support from “Day 0” of your ADU project, sign up for an ADU Feasibility Consult from us today – once you’ve done your consult, you can join us for our twice-weekly ADU Office Hours for problem-solving support throughout your ADU project!