How to use this renovation budget vs actual calculator
A renovation budget is useful only if you can compare it with what the project is actually becoming. This tool gives you a quick budget-versus-current-cost view.
What the calculator is showing you
Approved project cost is the original contract plus approved additions minus credits. Pending changes stay separate until you decide to approve them.
Potential total adds pending changes to the approved cost so you can see the possible impact before committing.
Remaining approved balance subtracts payments made from the current approved project cost. That number changes as approved changes change the project price.
Why not just use the original contract amount?
The original contract remains an important baseline, but it stops representing the current project price as soon as approved work changes. Keeping both numbers visible lets you see how far the project has moved without losing the original reference point.