Construction Budget Allocation

Prepared by: [Your Name]
Date: December 11, 2050

At [Your Company Name], we are dedicated to ensuring our construction projects are completed efficiently and within budget. Below is the detailed allocation of the budget for the upcoming project. This breakdown reflects the resources required for each phase.

Expense Category	Estimated Cost	Actual Cost	Variance	Notes
Labor	$300,000	$280,000	-$20,000	Labor costs reduced
Materials	$500,000	$510,000	+$10,000	Slight increase
Equipment	$150,000	$140,000	-$10,000	Lower than expected
Permits & Fees	$50,000	$50,000	$0	On Target
Contingency	$100,000	$95,000	-$5,000	No major issues
Site Preparation	$120,000	$125,000	+$5,000	Extra work needed
Utility Setup	$200,000	$210,000	+$10,000	Additional wiring
Design & Engineering	$80,000	$75,000	-$5,000	Under budget
Miscellaneous	$50,000	$55,000	+$5,000	Unforeseen costs

Notes:

• The labor costs were lower than expected due to a more efficient crew.

• Material costs went over due to supply chain delays.

• The project budget is on track with minor variations, and we'll monitor it closely.

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