Renovation contingency tracker: how much contingency is left

A contingency fund is only useful if you can see how much of it is gone. This page shows the pool, used and left calculations in Excel, with a $60,000 example at 15%.

General information only, not financial, construction or legal advice. Contingency, holdback and payment-split percentages are your own inputs, and payment and deposit rules vary by contract and by state or province; check yours. Figures cited from other sources are dated where they appear.

The answer in one line

Contingency left is the pool minus what has already been used, and the pool is your total budget times your contingency percentage. Show it twice: left now (approved changes only) and left if pending is approved. On a $60,000 project with a 15% contingency, the pool is $9,000. With $3,550 used and $1,800 pending, $5,450 is left now and $3,650 if the pending item is approved.

The pool sits inside the total

The pool is held inside the total budget, not added on top. Here $60,000 at 15% is a $9,000 pool, so the scope lines carry $51,000 between them. Count the pool as extra money on top of the lines and the sheet shows room that does not exist.

There is no single right percentage. As of 2026-10-05, one contractor's budgeting guide says: "Most renovation professionals recommend reserving 10% to 20% of your total project budget as a contingency fund" (Crosspoint Contracting). Another says: "Most experts suggest you save 10 to 15 percent of your total project cost for extras", and to aim for the higher end if the home is more than 30 years old (Levelworks). The two ranges differ, which is the point: this example uses 15% as an input, and you set your own.

Worked example: six lines, two overruns, one pending change

Used means committed above a line's own budget, summed line by line. Put headings in row 1 and the lines in rows 2 to 7.

Percentages are rounded to one decimal. As a cross-check, the lines are committed at $54,550 against a $60,000 total, which also leaves $5,450. That match holds here because every other line is committed at exactly its budget; a line that finishes under budget would make the two numbers differ.

The formulas

The per-line table sits in A to E and the summary in G and H, so they do not overlap.

E2   Overrun per line   =MAX(0,D2-C2)          (fill down rows 2-7)

H1   Total budget       60000   (typed)
H2   Contingency %      15%     (typed)
H3   Pool               =H1*H2                              9,000
H4   Lines should total =H1-H3                              51,000
H5   Lines check        =SUM(C2:C7)-H4                      0
H6   Used               =SUM(E2:E7)                         3,550
H7   Left now           =H3-H6                              5,450
H8   Pending exposure   =SUMIFS('Change Orders'!$F$2:$F$100,'Change Orders'!$G$2:$G$100,"Proposed")   1,800
H9   Left if approved   =H7-H8                              3,650
H10  Pool used %        =IF(H3=0,0,H6/H3)                   39.4%
H11  If approved %      =IF(H3=0,0,(H6+H8)/H3)              59.4%

H5 guards against counting the pool twice: if the line budgets do not add up to the total minus the pool, it will not read 0. A negative H7 means used has gone past the pool, and the overspend is coming out of other lines' room.

H8 is the cautious reading. A proposed change on a line with unspent budget might not touch the pool at all, but the sheet cannot know that, so it treats the whole amount as exposure.

Reading the result

Compare the share of the pool used with how much of the work is done. The same 39.4% means something different when demolition has just finished than when only paint is left. That comparison is your judgment; the sheet only supplies the first number.

Mistakes and checks

• Counting a Proposed or Rejected change as used. Only committed overruns count. Proposed amounts belong in pending exposure.
• Ignoring savings. This method counts overruns only, so a line that finishes under budget does not hand money back to the pool. If you want savings netted, decide that rule yourself and write it beside the total.
• Using Paid instead of Committed. The $2,400 of the $16,400 cabinet commitment that sits above its $14,000 budget uses the pool on the day it is agreed, not when the last invoice is paid.
• Changing the total mid-project without a note. The pool moves with it. Record the date and the reason.

Related guides

The overruns come from approved change orders, logged as in the change order tracker guide; Committed is explained in committed vs paid. For a small bathroom where the pool changes how much looks left, see the bathroom remodel budget spreadsheet. The Hexloom Renovation Budget Tracker shows pool, used and left on one summary tab.

What this does not do

This is a planning tool, not financial, construction or legal advice. It does not recommend a contingency percentage; 15% is the example's own input and the published ranges above are what two sources state, not guidance for your house. It does not predict what you will find behind a wall.

Sources

• Crosspoint Contracting, How to manage a home renovation budget
• Levelworks, Remodel contingency planning budget guide

More renovation budget guides

• Renovation cost overrun percentage calculator: the formula and a worked example
• Renovation change order tracker: a spreadsheet for homeowners
• Renovation budget spreadsheet: track committed vs paid
• Renovation budget by room spreadsheet: SUMIFS per room, with an overrun flag
• Kitchen remodel budget spreadsheet in Excel, built line by line
• DIY renovation expense tracker spreadsheet: receipts by room and category
• Contractor payment schedule template for homeowners in Excel
• Contractor bid comparison spreadsheet for homeowners
• Bathroom remodel budget spreadsheet in Excel: how much is really left