Schedule of Values Template

Project Name: Application #:

Project #: Application Date:
Contractor: Period to:

WORK COMPLETED Retainage*

Stored Materials Total Completed & Balance to
Item # Description of Work Scheduled Value Previous % Complete
This Period (not in D or E) Stored to Date Finish 10%
Application
9970 Demolition $ 3,000.00 $ 2,000.00 $ - $ - $ 2,000.00 67% $ 1,000.00 $ 200.00
9955 Drywall & Carpentry $ 36,000.00 $ 11,000.00 $ 4,200.00 $ 1,800.00 $ 17,000.00 47% $ 19,000.00 $ 1,700.00
9940 Doors & Hardware $ 1,000.00 $ - $ 500.00 $ - $ 500.00 50% $ 500.00 $ 50.00
9943 Electrical $ 7,000.00 $ 1,000.00 $ 3,000.00 $ 850.00 $ 4,850.00 69% $ 2,150.00 $ 485.00

Totals $ 47,000.00 $ 14,000.00 $ 7,700.00 $ 2,650.00 $ 24,350.00 52% $ 22,650.00 $ 2,435.00

Guide
Guide to
to using
using Schedule
Schedule of
of Values
Values Template:
Template:

Columns
Columns A,A, B,
B, C:
C: In
In these
these columns,
columns, enter
enter the
the item
item number,
number, description,
description, and
and estimated
estimated cost
cost for
for each
each line
line item.
item. Each
Each line
line can
can represent
represent
items
items of
of work
work or
or subcontractors.
subcontractors.

Column
Column D: D: In
In this
this column,
column, enter
enter the
the amount
amount of
of work
work that
that was
was listed
listed as
as completed
completed in
in previous
previous pay
pay applications.
applications. IfIf there
there were
were no
no previous
previous
applications,
applications, you
you can
can leave
leave this
this column
column blank.
blank.

Column
Column E: E: In
In this
this column,
column, enter
enter the
the amount
amount ofof work
work completed
completed inin the
the current
current period.
period. This
This should
should include
include all
all work
work completed
completed by
by the
the
application
application date
date that
that was
was not
not included
included in
in any
any previous
previous pay
pay applications.
applications.

Column
Column F:F: In
In this
this column,
column, enter
enter the
the value
value of
of stored
stored materials
materials for
for which
which you
you are
are seeking
seeking payment.
payment. Do
Do not
not include
include the
the value
value of
of materials
materials that
that
are
are accounted
accounted for for in
in columns
columns D
D or
or E.
E.

Column
Column G:
G: This
This column
column calculates
calculates the
the total
total amount
amount of
of the
the completed
completed work
work and
and stored
stored materials.
materials. (D
(D ++ EE ++ F)
F)

Column
Column H:
H: This
This column
column calculates
calculates the
the percent
percent of
of work
work completed. (G ⁒⁒ C)
completed. (G C)

Column
Column I:I: This
This column
column calculates
calculates the
the value
value of
of work
work still
still remaining
remaining until
until completion.
completion. (C
(C -- G)
G)

*Column
*Column J: J: When
When the
the project
project contract
contract allows
allows retainage
retainage to
to be
be calculated
calculated on
on aa line-item
line-item basis,
basis, enter
enter the
the retainage
retainage percent
percent into
into cell
cell J10
J10 to
to
calculate
calculate retainage
retainage for
for each
each line
line item.
item. IfIf instead
instead retainage
retainage is
is withheld
withheld from
from the
the overall
overall contract
contract amount,
amount, change
change cell
cell J10
J10 to
to 0.
0.

Learn
Learn more
more about
about schedule
schedule of
of values
values at:
at: https://www.levelset.com/schedule-of-values/
https://www.levelset.com/schedule-of-values/

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