DFL001 - Exeter Loan 1 - DEFAULT

IMS reports are generally split into subsections. These are;
Progress - detailed comment is made of the planned progress as shown on the contractors program against the actual, with reasons given for any variance.
Valuation - this is the cost of the work done to the date of the report and the contractors agreed cost plan is used as the basis for producing this detailed statement.
Variations - this is a list of all works the client has instructed which do not form part of the original contract. The cost of the variations should be met from the client's own funds unless there is prior agreement with the funder to cover these.
Utilities - this is a report on the progress of appointing the various utility companies to install water, electricity gas etc. and will include copies of quotations, receipts for payments made and confirmed installation dates.
Materials on site - this will list all materials currently on site with their value.
Subcontractors - this is a list of all appointed subcontractors detailing their works package and value
Suppliers - this will list all specialist suppliers and include copies of quotations and acceptances together with receipts of payments made
There are various other sections covering planned work, health and safety, site management, record of plant and operative on site in the previous period contractors proposals for the coming period etc.
IMO it is extremely unlikely that an IMS would sign of further payments without producing a report containing the basics of the above and drawing the funders attention to the overspend on the construction as it was progressing.