16 Springvale St · Thrive One Trust Data as at 4 Nov 2026 · ledger reconciled to the CBA statement of 4 Nov 10:00 AEST (149 entries)

Cash

Where the money is, what each package still needs, and when the next capital call lands.

Position

Trust account (CBA), 149 entries from 26 May to 4 Nov, balance recomposed entry by entry (credits $505,645 − debits $478,580 = $27,065). Paid, committed and to-go are this page's numbers; the EAC and the budget cover come from The Deal. Categorised ledger: ThriveOne_CBA_razao_ate_2026-11-04.csv.

Bank balance · 4 Nov
$27,065
Above the $20k floor only because Rod ($15k, 3 Nov) and Jean ($5k, 4 Nov) paid; ~$40–50k of bills land in the next two weeks.
Paid on the reno
$124,753
35% of the EAC · $72,327 since 22 Sep · $14,161 since 21 Oct. Per package.
Committed, not yet paid
$25,130
Hamilton $7,950 + deck (OZ) ~$4,180 + AC installed, invoice pending ~$13,000. Detail.
To-go
$206,201
EAC − paid − committed. Per package.
EAC · MRF-2026-09-21
The Deal · 21 Sep. Unchanged by this statement; proposals pending the gate are flagged below.
Budget cover
0.76×
BZ $270,000 ÷ EAC $356,084 (The Deal · 21 Sep).

Pace

Since 7 Sep (week 9 of 14) the account has paid about $10k a week on the works — $12k a week since 22 Sep, but only $7k a week in the last fortnight, because the big October items (kitchen, deck, Hamilton) are paid and the next ones (AC, pool interior, flooring balance, plaster, painting, fence) have not been invoiced yet. October alone was $61.5k. Read plainly: the account looks healthy today and will not be in two weeks — the equalising call is now (calls).

Holding costs run at $6,594/month ($1,522/week); paid to 4 Nov $20,233 — Pepper $5,816.48 × 3, Allianz $287.65 × 5, Gold Coast rates $623.58, water $289.90, AGL $416.70 (paid twice on 3 Nov — credit to request), bank fees $15 (The Deal · 21 Sep). On budget against the $59,347 for nine months. Acquisition all-in: $1,290,668 (The Deal · 21 Sep).

Cost to complete, per package

BZ = allocation approved at G4 (5 Sep). Under each package name, its share of the EAC (MRF-2026-09-21, from The Deal). Paid follows the categorised ledger of 4 Nov, by payee. To-go = EAC share − paid − committed. A negative to-go is a package that has outrun its EAC share: a proposal for the gate, not a number change.

PackageBZPaidCommittedTo-go
P0 Demolition, skip bins, excavation, treesEAC 12,670 · Javier demolition 4,950 + skip/BSC/Tom's Tree 4,630 · done8,0009,580—3,090
Roof restoration + gutter cleanoutside the WBS · EAC 3,618 · done03,618—0
P1 Termite treatment / timber repairsEAC 20,000 · Bang $1,500 paid by Rei outside the account; truss D41, Pegasus baits not contracted20,0000—20,000
P2 PlumbingEAC 14,000 · rough-ins ($900) sit inside Hamilton; pump station installed by Dean this week; HWS (D44) open14,0000—14,000
P3 ElectricalEAC 16,000 · MattElec 1,385 · João 2,445 (25 + 31 Oct) · Sparky Direct 167 · switchboard upgrade (D62) to quote16,0003,997—12,003
P4 General layout + fire-rated wall + kitchen + flooring + glassEAC 65,500 · kitchen BDW 13,132 + installation 8,716 + appliances 2,438 (installed 5–6 Nov) · flooring deposit WZ Vision 2,123 · glass 400 (2 Nov)60,00026,809—flooring balance ~$9–12k on 12 Nov38,691
P5 Bathroom 1EAC 18,000 · Bathroom Trade Outlet 2,173 + Tile Collective 1,134 + Swan Plumbing 1,281 — provisional18,0004,588source conflict noted in QA—13,412
P6 Bathroom 2 — ensuiteEAC 16,000 · Kijun Sung tiling 4,200 (25 Oct, new trade — licence and invoice to file); demolition and villaboard are Hamilton variations (P13)16,0004,200—11,800
P7 Bedrooms + robesEAC 8,000 · IKEA robe doors 1,347 (fitted DIY 2 Nov — D58 closed)8,0001,347—6,653
P8 PaintingEAC 20,000 · Javier 5,000 (deposits Sep) + gutter paint 700 · interior quotes $5k / $7.5k / $14k, cap $7–7.5k (D54, undecided)20,0005,700—14,300
P9 DeckingEAC 20,000 · OZ (Liming Lei) 16,720 = 80% of an implied ~$20.9k · deck complete 3 Nov · final 20% against the evidence pack (D51)20,00016,7204,180−900proposal: EAC +900
P10 Pool interior + coping + surrounds + barrierEAC 35,000 · Matias Schroder deposit 2,000 + pool clean 400 · shell ground; interior balance, coping (D52) and glass barrier not quoted20,0002,400—Matias balance unknown32,600
Ducted air-conditioning — new system (D9)outside the WBS · EAC 15,000 · installed 2–3 Nov with ceiling/wall damage (D61) · invoice not received; $11k quote of 1 Oct + granny split, or "$15k incl. granny AC"0013,000midpoint, before the make-good credit2,000
P11 Landscaping, backyard + fenceEAC 12,000 · B&B Fencing $5,500 (full replacement, ABN) vs Chinese $4,200 repair — D56a at the gate12,0000—12,000
P12 Front yard & carparkEAC 8,000 · front deck re-boarded (inside P9's OZ work)8,0000—8,000
P13 Granny flat — Hamilton + fixturesEAC 42,545 · contract $36,300 + variations $3,540 (700h) · 9 transfers 10 Aug → 30 Oct6,00034,185source conflict noted in QA7,950410
P14 Fees + design packageEAC 29,183 · Apex 695 + Bugres (Joana) 1,200 · new certifier (D50) to engage · falls to ~14–17k under D45 (proposed)8,0001,895—27,288
Paid, not yet allocated to a packagecash withdrawals 3,840 (carpenter Ned 1,950 · Jorge regrout 1,350 · 140 · 400 on 29 Oct) · Alibaba + Gamfreight import 3,189 · Bunnings / eBay / Amazon / tools 2,684 · EAC line: misc 56809,713—−9,145nets against the packages above once classified
PackagesEAC 356,084 · +102,084 on the 254,000254,000124,75325,130206,201
Contingencyconsumed · −16,00016,000——0
BZ → EAC270,000 → 356,084 · +86,084 (+32%) · budget cover 0.76×270,000124,75325,130206,201

Reclassified on 4 Nov against the 21 Oct page: freight and import purchases (Alibaba, Gamfreight) and the cash withdrawals are shown as unallocated instead of inside P0; Swan Plumbing sits in P5 provisionally; the gutter paint ($700) stays with painting. Three packages sit at or beyond their EAC share (deck, Hamilton, unallocated): proposals for the Wed 11 Nov gate. Where the EAC could land lower — proposals, not numbers: painting at the cap instead of P8's $20k (−$11k), P14 without the general project (−$12–15k), DIY robe doors / glass / doors (−$3k). Where higher: AC damage if not recovered (+$1–3k), fence +$1.5k, patio cover +$8.5k if approved, floor removal +$2–4k, switchboard upgrade (D62) +$1.5–3k indicative. Net: a $20–30k improvement is plausible if the make-good is recovered and painting lands at the cap — rebased on The Deal after the gate, not here.

Package notes from the ledger

Commitments

Signed, agreed, or work already done and awaiting an invoice. Only these lines count as committed; everything being quoted sits in to-go until a contract exists.

Booked or being quoted — inside the EAC, not committed

Watch list — not in the EAC

Patio cover ~$8.5k (Chinese, 3×5 m; Rei wants cheaper quotes) · removal of the existing floor +$2–4k · HWS replacement ~$2k (D44) · solar panel removal CoTC → ~$390k if everything enters (The Deal · 21 Sep). An item enters only if it buys at least 2× its cost in ARV.

Capital calls

Equal hard money, one quarter each, always. Each partner pays up to the common level. Floor: the account never goes below $20k — it is at $27,065 with ~$40–50k due in two weeks, so the call is now.

CallDueCoversTotalPer partner
Call 3 · equalisingFri 6 NovAC (after the make-good) · Hamilton up to $3.5k · deck final · flooring balance · plaster · Pepper 16 Nov · fence if contracted; brings every partner to $130,00031,500to $130,000Rod 2,500 · Jean 5,000 · Rei 9,000 · Marcos 15,000
Call 4~Tue 1 DecPainting · pool balance, coping, barrier · bathroom 1 · fit-off · landscaping start · holding80,00020,000to $150,000
Call 5~1 JanLandscaping, certification, sales pack, holding to March — indicative~60,000~15,000to $165,000
Call 6~1 FebHolding and sale costs to settlement — indicative; the balance to the target~72,000~18,000to ~$183,000
Still to contribute · Base
$243,380
EAC $356,084, holding to March → target $182,970/partner: Rod 55,470 · Jean 57,970 · Rei 61,970 · Marcos 67,970.
Target vs facility limit
$182,970/partner
Loan facility $185,000 — $2,030 of headroom, no contingency. Original commitment $148,416. Scenarios.

Formula: target = (contributed to date $488,500 + reno still to pay $231,331 + holding still to pay $39,114 − cash $27,065) ÷ 4. Rei's own count (2 Nov: "Rod and Marcos still owe $5k each") and Jean's ("$75k + $65k = $140k") are personal tallies; the statement is the single source — the only differences are Rei's $1,000 of 26 May and the $2,500 Rod says went to the ManCo in June, both audit items below. Time between contributions is compensated by the 6% in the loan agreements (C3a–d).

Contributions per partner

Phase 1 $85k each (29 Jun–6 Jul), then post-settlement rounds: Rod $42.5k · Jean $40k · Rei $35k · Marcos $30k (the "income by source" view Rei posted on 3 Nov reconciles exactly to the statement).

PartnerContributed to 4 NovCall 3Level after Call 3Still to contribute · Base
Rod+20,000 on 8 Oct · +15,000 on 3 Nov · $2,500 to the ManCo in June, to confirm127,5002,500130,00055,470
Jean+10,000 on 14 Oct · +5,000 on 21 Oct · +5,000 on 4 Nov125,0005,000130,00057,970
Rei+10,000 on 19 Oct · +5,000 on 23 Oct · incl. $1,000 of 26 May, to confirm121,0009,000130,00061,970
Marcos+10,000 on 23 Oct ("Capital call 2A") · $15,000 due now115,00015,000130,00067,970
Total488,50031,500520,000243,380

Other credits: Pexa settlement $3,298 (15 Jul), PRD $1,000 (5 Jun, Pristine), $280 cash "JJ shed and heater" (14 Aug, a reimbursement, not a contribution) and internal reversals $1,067. ManCo advances $11,500 to the Trust with no Management Agreement yet — to be settled in writing.

Spend governance G1–G6

The six rules we protect so that one budget and one ledger stay true. Company governance and the loan agreements: Governance.

G1 · One account

Single Trust account

Every payment leaves the Trust account. Personal cards only with an invoice in the name of ThriveCo One Pty Ltd ATF Thrive One Trust and a reimbursement the same week. Open: Bang ($1,500) and the electrician's materials bought by Rei.

G2 · Approval authority

Who approves what

≤ $1k: any partner, notify the group. $1–5k: two partners. > $5k or > 10% of a package: all four. The painting contract (D54), the fence (D56a) and the AC settlement (D61) are all-four decisions.

G3 · Suppliers

Quotes in the trustee's name

At least two quotes above $5k; written contract above $10k. Open: OZ (deck), Matias (pool) and the AC installer have no written contract on file; B&B's quote is addressed to a partner.

G4 · Evidence

Evidence before payment

Dated photo + Form or CoTC + reconciliation to the WBS package. The deck's final 20%, Hamilton's bathroom milestone and the AC invoice all wait for evidence — and the AC's make-good.

G5 · One budget, one ledger

BZ $270,000 · forecast = EAC

The statement is classified after every upload and the budget cover is recomputed. Rei's spreadsheet and ChatGPT summary are reconciliation aids, not a second budget.

G6 · Capital

Equalised call

To a common level per partner; the floor ($20k) triggers a call whenever it is breached or about to be, not only on the 1st. Advances recorded in the loan agreements.

Weekly routine

Audit items

Open items from the reconciled ledger, for Grow (accountant). Each one names what closes it.

Decisions on cash for the Wed 11 Nov gate

Record the outcome in the minutes; until then the figures on this page stand as proposed.

  1. Call 3 now (equalising to $130,000 by Fri 6 Nov) and Call 4 ~1 Dec ($20,000 each) — the floor rule (G6) triggers a call whenever the balance is about to breach $20k.
  2. AC settlement (D61) — no payment before the make-good or credit is written on the invoice; licences and CoTC with it.
  3. Painting package D54 — cap $7–7.5k on one scope sheet; above 10% of P8 it is an all-four decision.
  4. Fence D56a — B&B $5,500 full replacement (termite remediation, ABN, re-issued to the trustee) vs $4,200 repair.
  5. Packages at or beyond their EAC share — deck +$900 (D51), Hamilton reconciled to contract + variations, the unallocated $9.7k classified — EAC bridge updated on The Deal after the gate.
  6. Evidence before the next payments — deck final 20%, Hamilton bathroom and robe milestones, Matias balance: photos and documents first (G4).