Consulting firm DPFG’s new reimbursement tracking system (RTS) allows a company to track reimbursable costs for a company’s development projects. The Web-based software lets users discern expense functions such as expenditures to date, costs reimbursed to date, and costs that remain to be reimbursed, all in real time.
The software was originally developed four years ago for internal use for the company’s consulting clients, mostly residential and commercial developers and builders. However, says DPFG manager Lisa Welthy, the downturn in the housing market presented an opportunity to make RTS a retail proposition. “As builders were laying off staff, RTS was able to do the work of tracking reimbursements automatically,” she explains.
Applications for RTS include special state taxing districts such as community facilities districts, improvement districts, special improvement districts, municipal utility districts, public improvement districts, metro districts, and community development districts. Other aspects covered are development impact fee credits, cost sharing agreements, joint development agreements, utility reimbursement agreements, and municipal payback agreements.
Features include the ability to review all specific development projects and corresponding costs, view all of the contracts making up a specific construction project, and see detailed invoice or draw information on a contract-by-contract basis. Clients purchase a monthly licensing agreement for $300 per month per development. Discounted pricing is available for multiple projects. For information, visit www.dpfg.com.