Policies & Procedures

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Kolter Homes Policies and Procedures

Policy No. 5.5.1 Model Estimat eMonthly Reporting

- (Location : M:\Operations\Purchasing\Finance Meetings)

Directors of Purchasing (cont):

- Instruct Purchasing Agents to review - Any cost changes made throughout the month to the model estimate must be approved by the Project Director/VP on a Master Budget Update Form (N:\Operations\Purchasing\Procedures\Budget Changes)

Purchasing Agents:

- Add detailed explanation column to spreadsheet saved in Finance Folder - Sort the file, so that only variances appear - Provide detailed explanations for the variances

Project Director:

- Receives completed review from Directors of Purchasing - Asks for further explanation/clarification if needed - Signs documents and returns to Director of Purchasing - Updates Margin Analysis & executes a Price Change Notification (PCN) if necessary - The Project Director has five calendar days to complete items above

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