Funds Control and Administration Services
VERTEX Funds Control and Administration Services Team provides strategic support for the financial health of projects operating under Lender financing agreements or commercial construction loans. Designed as an independent financial controls team for our Owner’s Representative service area, we have a successful track record working on projects of all sizes, scopes, magnitudes, and locations, either as a stand-alone or complementary service.
Whether administering FBO or disbursement accounts, assisting Contractors with their disbursements and loan repayments, monitoring an existing contract with supplemental project controls, or preparing a project for complete relet, VERTEX Funds Control Services ensure that projects stay on track for completion with minimal exposure. Services are innovative, flexible and tailored to each project and client’s unique demands.
VERTEX‘s Funds Control Team currently offers a full portfolio of Project Management services for our Commercial Development and OPM Clients which includes:
- VERTEX offers licensed CPAs to investigate the financial health and viability of projects. We conduct multiple work sessions, documentation reviews, and backlog calculations to facilitate our financial analyses.
- Losses and reserves are calculated within cost-to-complete studies where we address variations in remaining project budgets, potential claims or lien exposure, and anticipated revenues.
- VERTEX-established disbursement accounts are independently controlled by our accounting team.
- In-house Engineering and Finance divisions review project progress and subcontractor pay applications.
- Project controllers verify all documentation, releases, and lower-tier vendor payments on a timely basis, before releasing project funds.
- Our philosophies of agility and diligence ensure that payments are made promptly, with a high degree of reasonableness, and without diverting or misusing project funds.
- Profit and overhead is strictly controlled to keep projects self-sustaining from conception through completion.
- VERTEX maintains meticulous budgets; any cost overruns are immediately identified and clients are promptly notified.
- Account balances and subcontract accounting records are reconciled on an ongoing basis.
- Since we take pride in transparency and efficiency, we offer clients access to our project databases through a secured client web-portal.