Assemble explicitly covered property cash flows

RFC 0045 is available in published core/CLI 2.9.0 with Protocol 2.12.0.

The assembler combines verified stated lease-up cash with a supplemental dated ledger. The result covers one property, one explicitly declared currency, unlevered and pre-tax. It copies cash amounts and keeps every row's source identity. It does not forecast leases, calculate an exit price, or infer expenses.

Run the synthetic example

All inputs below are synthetic engineering data. They describe no actual property or investment; the owner selected synthetic fixtures for implementation and will validate a real deal separately. They demonstrate cash coverage and refusal behavior, not an underwriting recommendation.

Install the CLI for your own explicitly covered source and plan:

npm install --global @uwmd/[email protected]
uwmd assemble-property deal.uwx.md plan.json --json

To run the included synthetic fixtures from a repository checkout:

npm run build
npm run cli -- assemble-property docs/examples/property-cash-flow-synthetic.uwx.md docs/examples/property-cash-flow-plan.json --json
node scripts/verify-property-cash-flow-workflow.mjs

The assemble-property command emits a candidate JSON payload and does not edit either input. The workflow script additionally invokes the existing dated metric engine at an explicit discount-rate input of 0.08. Neither operation writes to the deal. The .uwx.md example uses Format 2.0 nested metadata; its provenance labels the inputs as synthetic.

Prepare a real-deal plan without inventing inputs

The source checkout also provides a read-only inventory command for the next real-deal step:

npm run cli -- inspect-property-cash-flows deal.uwx.md --json

It lists current lease-up and supplemental variants, lease-up periods, source row indexes/dates/amounts, stated metric names and the coverage cells that a selected schedule requires. It does not choose a variant, assign an expense or reserve category, infer a payment date, create zero declarations, or attest an economic assertion. The output is an intake aid; the owner still supplies explicit expense, reserve and payment-timing inputs before assemble-property can establish a complete declared candidate.

The complete candidate contains 12 copied cash rows and 20 coverage cells. Each period's three lease-up cells intentionally share one bundled row. Four other cells have explicit zero explanations; those declarations insert no rows. A separately stated numeric zero remains an ordinary source row.

Check stated cash-flow metrics from the CLI (unreleased)

The source checkout adds a read-only command over the existing RFC 0034 verifier. It is not included in the published 2.9.0 CLI. After building the checkout:

npm run cli -- verify-cash-flows deal.uwx.md --variant base --json
npm run cli -- verify-cash-flows conformance/cash-flow/valid-hold-period/deal.uwx.md --json

The second command checks the existing synthetic conformance example. For a private Excel comparison, transcribe the dated cash amounts and Excel's stated metrics into a cash_flow_series block with source provenance; this command does not import spreadsheets or turn an assembled candidate into a saved block. Keep the full assembly wrapper alongside any series extracted for comparison.

Selection follows the existing primary-role, default/base and sole-block rules. Ambiguous selections refuse; --variant names an exact active variant, including a component if deliberately selected. Superseded history is never selected. The command parses structured Markdown strictly and checks the selected payload; it does not replace whole-document validate, signature verification or receipts. An omitted day count retains RFC 0034's actual/365f default.

JSON reports contain section, variant, status, checked_metrics and the original verification result. Input errors instead contain error with a code, message and pointer. The names in checked_metrics identify the claims passed to the verifier; the verdict/issues determine whether they were verifiable.

Exit	Meaning
0	At least one stated metric was checked and all checked claims verified.
1	A metric failed, or arguments, file reading, parsing, selection or input shape refused.
3	The verifier returned unverifiable, or no supported non-null metric was stated.

No claims yields status: "no_stated_metrics" and verification: null. Null is not zero; a stated numeric zero is checked normally. The CLI refuses nonnumeric claims and malformed cash rows even when no metrics are stated. Partial XNPV claims retain the existing verifier's unverifiable result. Write flags, calculation overrides, duplicate options and extra file paths refuse.

A passing comparison establishes only that the stated metrics follow the stated rows under the existing engine rules. It establishes no currency or financing basis, factual accuracy, complete expense coverage or realized performance. Resolve source contradictions with attributable evidence; label scenario assumptions explicitly and keep unresolved payment timing visible.

Declare coverage and the economic boundary

The plan states acquisition and disposition dates, day count, currency and exact source variants. Each supplemental row belongs to exactly one (slot, category) cell. Each required cell has rows or an explicit zero explanation. There is no default source, zero amount, month-end date or currency inferred from $.

Lease-up owns rent, concessions and TI/LC together. Other income excludes rent; operating expenses are cash payments; nonleasing capital excludes TI/LC. Acquisition and disposition have separate purchase/gross-sale, transaction-cost and reserve cells. Gross sale excludes debt payoff and separately returned cash reserves. Debt and investor tax cash flows are outside this first scope.

Reserve funding is an owner cash outflow and release is an inflow. Work paid inside a funded reserve is excluded from all other selected cash rows. The plan requires explicit assertions about that exclusion and no restricted reserve remaining after sale. If the source lease-up bundle also includes reserve-funded TI/LC, this adapter refuses the asserted unsupported case; it cannot split or repair the bundle. It cannot discover a false assertion hidden inside otherwise valid numbers.

The first purchase payment anchors the series on 2026-07-01. All cash must settle by the declared disposition on 2026-12-31; no post-sale settlement or partial-window rule is implied. Every date is supplied, never inferred from a holding-year row number.

Read the result without losing its meaning

Keep the entire result wrapper: plan, coverage, cells, bindings, source_verification, source_envelope_digest and series. coverage: "declared_complete" means the required declarations are present and structurally consistent. It does not prove the author included every real payment. The bare generic series does not carry the wrapper's currency or financial basis.

bindings preserve each source path, variant, date and amount. Same-date rows remain separate, ordered by lease-up source order then supplemental index. Consequently, a generic date selector still refuses an ambiguous date. Coverage cell evidence uses output indexes so repeated dates do not destroy identity.

The source digest covers the existing complete semantic envelope, including its history. It is not a signature, a plan digest or an economic-completeness receipt. Source and plan snapshots remain consistent while hashing runs asynchronously.

Existing metric results

The workflow script generated the following values from the existing engine; they are regression expectations for these synthetic inputs only:

Metric	Value	Interpretation
XNPV at 0.08	197078.23	Net present value at acquisition, including the purchase outflow.
XIRR	0.54739	Annualized fractional return of this synthetic unlevered, pre-tax stream.

The engine uses the plan's actual/365f day count and its existing quantization (currency two decimals, rate six decimals). XNPV here is an investment NPV, not an appraisal value. The assembly API emits no stated_metrics; callers request metrics explicitly. Existing IRR convergence and bracket refusals are unchanged.

Refusals and further scope

PropertyCashFlowAssemblyError.proto carries CALC-CF-ASSEMBLY, a stage reason, pointer and any original nested source evidence. CLI --json emits { "error": ... } and exits nonzero; text mode reports the code and pointer. Unknown flags, including write and calculation-override flags, are refused.

Missing coverage, duplicate source rows, bad signs/dates, mismatched currency, false required assertions and failed/unverifiable source checks refuse assembly. Unknown or nonfinite cash is never replaced by zero. Supplemental structure is checked before whole-document hashing, so malformed amounts retain typed errors.

Levered/after-tax assembly, FX, reserve rollforwards, post-sale settlements, speculative leasing, terminal valuation, persistence of the evidence wrapper and Excel cash-flow metric formulas require separate contracts. See RFC 0045 for the complete wire contract and RFC 0044 workflow for the partial projection this assembler consumes.