);
}
// ---------- Cashflow tab ----------
// Forward-looking household income & outflow view: where cash comes from,
// where it goes, and what the running balance looks like over the next 8 quarters.
// Surfaces the "liquidity dip → Pine Ridge II exit → recovery" pattern that's
// typical when a household is in active alts deployment.
function CashflowTab({ navigate, accountIds }) {
const [selectedQ, setSelectedQ] = React.useState(HOUSEHOLD_CASHFLOW[0].q);
const [exitSlips, setExitSlips] = React.useState(false);
const [wedding, setWedding] = React.useState(false);
const [trustGift, setTrustGift] = React.useState(false);
const cashPositions = analytics.filtered(accountIds).filter(p => p.assetClass === 'cash');
const startCash = cashPositions.reduce((a, p) => a + p.mv, 0);
// Apply selected scenarios on top of the base forecast (deep-copy so toggling re-derives cleanly).
const cf = HOUSEHOLD_CASHFLOW.map(d => ({ ...d }));
if (exitSlips) {
const q4 = cf.find(c => c.q === '2027Q4');
const q2 = cf.find(c => c.q === '2028Q2');
if (q4 && q2) { q2.altDistributions += 7000000; q4.altDistributions -= 7000000; }
}
if (wedding) {
const q = cf.find(c => c.q === '2027Q2');
if (q) q.lifestyle -= 1500000;
}
if (trustGift) {
const q = cf.find(c => c.q === '2028Q1');
if (q) q.lifestyle -= 2000000;
}
// Per-quarter rollups + running cash balance
const rows = cf.map(d => {
const inflows = HCF_SOURCES.filter(s => s.sign === 'in').reduce((a, s) => a + (d[s.key] || 0), 0);
const outflows = HCF_SOURCES.filter(s => s.sign === 'out').reduce((a, s) => a + (d[s.key] || 0), 0);
return { ...d, inflows, outflows, net: inflows + outflows };
});
let bal = startCash;
const balancePath = [startCash, ...rows.map(r => { bal += r.net; return bal; })];
// Per-entity rollups across the 8-quarter window. Uses HCF_SOURCE_ENTITY_SPLIT
// to attribute each source's flow proportionally to the entities that own it.
const entityRollup = (entityId) => {
let inflows = 0, outflows = 0;
const sourceTotals = {};
for (const d of cf) {
for (const s of HCF_SOURCES) {
const ratio = (HCF_SOURCE_ENTITY_SPLIT[s.key] || {})[entityId] || 0;
if (ratio === 0) continue;
const v = (d[s.key] || 0) * ratio;
sourceTotals[s.key] = (sourceTotals[s.key] || 0) + v;
if (s.sign === 'in') inflows += v; else outflows += v;
}
}
const top = (sign) => Object.entries(sourceTotals)
.filter(([k]) => HCF_SOURCES.find(s => s.key === k).sign === sign)
.filter(([, v]) => Math.abs(v) > 1)
.sort((a, b) => Math.abs(b[1]) - Math.abs(a[1]))
.slice(0, 2)
.map(([k, v]) => ({ src: HCF_SOURCES.find(s => s.key === k), value: v }));
return { inflows, outflows, net: inflows + outflows, topIn: top('in'), topOut: top('out') };
};
// Liquidity coverage: months of typical net burn the current liquid cash sustains.
const recurringMonthlyBurn = Math.abs(rows.slice(0, 4).reduce((a, r) => a + r.net, 0)) / 12;
const monthsCovered = recurringMonthlyBurn > 0 ? startCash / recurringMonthlyBurn : 99;
const annualInflows = rows.reduce((a, r) => a + r.inflows, 0) / 2; // 8 quarters = 2 years
const annualOutflows = Math.abs(rows.reduce((a, r) => a + r.outflows, 0)) / 2;
const minBalance = Math.min(...balancePath);
const minBalanceIdx = balancePath.indexOf(minBalance);
const minBalanceQ = minBalanceIdx === 0 ? 'today' : (cf[minBalanceIdx - 1] || {}).q;
const lowCashFlag = minBalance < 3000000;
const anyScenario = exitSlips || wedding || trustGift;
const ScenarioPill = ({ active, onClick, label, hint }) => (
);
return (
ScenariosToggle to stress-test the forecast. Chart, balance, KPIs all update live.
setExitSlips(!exitSlips)}
label="Pine Ridge II exit slips 6 mo"
hint="Pushes the projected $7M Pine Ridge II exit distribution from Q4 2027 to Q2 2028."/>
setWedding(!wedding)}
label="Family wedding · $1.5M Q2 2027"
hint="Adds a one-time $1.5M lifestyle outflow in Q2 2027."/>
setTrustGift(!trustGift)}
label="Next-gen gift · $2M Q1 2028"
hint="Adds a $2M family-governance distribution in Q1 2028 (gift to next generation)."/>
{anyScenario && (
)}
{anyScenario && (
⚡ Forecast adjusted by scenario · delta to base min cash: {(() => {
let baseBal = startCash, baseMin = startCash;
for (const d of HOUSEHOLD_CASHFLOW) {
const inS = HCF_SOURCES.filter(s=>s.sign==='in').reduce((a,s)=>a+(d[s.key]||0),0);
const outS = HCF_SOURCES.filter(s=>s.sign==='out').reduce((a,s)=>a+(d[s.key]||0),0);
baseBal += inS + outS;
if (baseBal < baseMin) baseMin = baseBal;
}
const delta = minBalance - baseMin;
return (
{delta >= 0 ? '+' : ''}{fmt.money(delta, {compact:true})} {delta < 0 ? '(tighter)' : '(more buffer)'}
);
})()}
Min projected cash{fmt.money(minBalance, {compact:true})}at {minBalanceQ}
Quarterly cashflow by source
Inflows above the line, outflows below. Bond coupons stay roughly flat (Treasury and muni schedules interleave); the visible spike is Pine Ridge II's projected Q4 2027 exit distribution.
fmt.money(v, {compact:true})}/>
{HCF_SOURCES.map(s => (
{s.label}
))}
Forecast caveat: capital calls follow industry-typical drawdown patterns (±1–2 quarters of timing variance). Distributions, especially the Pine Ridge II Q4 2027 exit, are GP estimates — actual timing depends on M&A or IPO of underlying companies and can shift materially.
Projected cash balance
Starting from today's cash, applying every projected inflow and outflow on its quarter.
Today: {fmt.money(startCash, {compact:true})}·Min: {fmt.money(minBalance, {compact:true})} at {minBalanceQ}·End ({cf[cf.length-1].q}): {fmt.money(balancePath[balancePath.length-1], {compact:true})}
{lowCashFlag && (
Liquidity tightness
Projected cash dips to {fmt.money(minBalance, {compact:true})} at {minBalanceQ} — driven mainly by Q3 2027's $3.25M of clustered calls (Pine Ridge IV yr-2 + Helios initial). Pine Ridge II's Q4 2027 exit distribution is the rebound. Buffer options: trim AAPL ahead of the dip, or hold extra T-Bill maturities into 2027Q3.
)}
Per-quarter detail
In, Out, Net, and the running cash balance after each quarter. Click any row to drill into that quarter's source-level breakdown below.
Each entity's inflows, outflows, and net across the window.
{ACCOUNTS.map(a => {
const t = entityRollup(a.id);
const fundingHint = t.net < 0
? 'Funded by surplus entities or new liquidity.'
: 'Surplus available to deploy.';
return (