TRADE SERVICE · HEAVY CIVIL & INFRASTRUCTURE CLUSTER

FRACTIONAL CFO FOR TUNNEL CONTRACTORS.

QUICK ANSWER

We run the finance function for tunnel subcontractors doing $1M to $12M: job costing aligned to the way you estimate, a 13 week cash flow forecast, monthly WIP, and a CFO in the room every month. Pricing starts at $1,900 per month.

In tunneling the geotechnical baseline report is the contract, so the daily log is the second set of books. The baseline states what the bid was entitled to assume and the differing-site-conditions clause allocates whatever turns out otherwise, which means day-by-day documentation is the only evidence that ever decides which one happened. We code downtime by cause, separating conditions, machine, logistics, and owner, because continuous operations burn crew, power, and plant around the clock while the advance rate stalls and a stopped heading costs the same as a producing one. Then we get honest about the capital, since a boring machine and its supporting plant are project-scale assets with salvage assumptions baked into the bid, and ownership, refurbishment, and residual value decide the price before the strata get a vote.

BY JOSH LUEBKERPublished 2026-08-06Updated 2026-08-06
WHERE TUNNEL LOSES MONEY

THE THREE THINGS THAT DRAIN THE CASH.

LEAK 01

The Baseline Ledger

The GBR states what the bid may assume, the DSC clause allocates what differs, and the shift log proves which one happened. Ground documentation isn't paperwork; it's the trade's second set of books.

LEAK 02

The Sleepless Burn

Continuous operations mean the daily cost never pauses while the advance rate does. Downtime coded by cause (ground, machine, logistics, owner) is the only way the stopped-heading argument ever pays.

LEAK 03

The Buried Capital

The machine and plant are project-scale capital with salvage assumptions built into the bid. Cost-basis honesty (ownership, refurbishment, residual) decides the price before the ground gets a vote. (cfos-working-capital-system) ---

HOW SPM FIXES IT

WHAT WE CHANGE.

The baseline is the contract (GBR and the DSC clause)
The machine is the mortgage (TBM and plant capex)
Around-the-clock labor (the 24/7 burn rate)
Microtunneling and the small-diameter segment (where the mid-market lives)
Progress measurement in the dark (paid by the meter, proven by the log)
PRICING

FLAT MONTHLY FEE. NO SURPRISES.

Priced by trailing 12 month revenue. No hourly billing. No payroll. No add-ons.

Last 12 months revenueMonthly fee
Up to $1M$1,900 to $2,900
$1M to $3.5M$2,600 to $3,900
$3.5M to $6.5M$3,800 to $5,700
$6.5M to $9.5M$5,100 to $7,100
$9.5M to $12.5M$6,100 to $8,500
$12.5M to $15.5M$7,400 to $11,000
$15.5M to $18.5M$9,400 to $13,500
$18.5M+Quoted individually

Range reflects the three tiers below. Which one you're in depends on how much of the work you want off your desk. No payroll. No hidden line items.

Core

You stop guessing.

You get the CFO work. Job costing built against the way you estimate, a 13 week cash forecast, monthly WIP, and a meeting every month that ends in decisions rather than a report.

Your bookkeeper keeps doing the books.

Executive

You stop touching the books.

Everything in Core, and we run the bookkeeping and the controllership as well. Nobody in your office is answering coding questions or chasing a reconciliation at month end.

We do the books. No payroll.

Strategic

Every job shows its margin while it's still running.

Everything in Executive, plus the job costing and WIP platform set up, loaded with your cost codes, and managed for you every month. You never have to learn it.

We do the job costing.

COMMON QUESTIONS

FREQUENTLY ASKED.

Tunnel contractors at $1M to $5M net about 6.5 percent on the SPM 48-trade benchmark dataset, rising to 9.5 percent by $25M to $50M; the CFOS target at $1M to $5M is 10 percent. At the mid-market scale that usually means trenchless small-diameter work, where shaft economics, ground-class pricing, and documentation discipline carry the margin. Every net profit figure here is stated before taxes, the same basis CFMA reports on, so the two are directly comparable.
Three tiers, and which one you are in depends on how much of the work you want off your desk. Core is where you stop guessing: job costing built against the way you estimate, a 13 week cash forecast, monthly WIP, and a monthly meeting that ends in decisions, while your bookkeeper keeps doing the books. Executive is where you stop touching the books, because we run the bookkeeping and the controllership as well. Strategic is where every job shows its margin while it is still running, because the job costing and WIP platform is set up and managed for you. No payroll. No scope gaps.
Sixty days. We migrate your books back to the start of your last taxable year, set up ControlQore, and build your job costing structure from scratch. Fully operational in two months.
ControlQore is the job costing and WIP platform we use for all clients. Purpose-built for contractors, more affordable than legacy tools, and AI-infused. We set it up and manage it, so you do not have to learn it.
A bookkeeper records what happened. We tell you what it means and what to do about it. We align job costing to your estimates, track WIP monthly, and hold strategic accountability meetings so problems get fixed and not merely documented.
$10.7M+
Client AR Recovered Since 2023
48
Active Trade Specializations
60 DAYS
Average Onboarding Time
WHAT THIS TIES INTO
Josh Luebker, The Construction CFO
Josh Luebker
FRACTIONAL CFO · THE CONSTRUCTION CFO

Former commercial construction project manager and master electrician. Managed 150+ projects worth more than $2.1B combined, with individual jobs from $50,000 to $300M, including data centers, military bases, hospitals, and high-rises. Now fractional CFO for commercial subcontractors doing $1M to $12M through Sulphur Prairie Management.About Josh  | LinkedIn

DO YOU KNOW YOUR TRUE MARGIN ON TUNNEL WORK?

Bring one job. We will show you the difference between what you bid and what it cost.

You don't hire a CFO because it's safe, you do it because the real risk isn't having one.
Book a 20 minute diagnostic

20 minutes. No sales pressure. We will tell you exactly what's broken before we talk about anything else.

OR START WITH THE WORKBOOKS. NO CALL NEEDED.