What should a sponsor include in a sources and uses schedule?

Sources and uses is the transaction's capital map and should reconcile deal economics to actual funding mechanics. For sponsors assembling closeable financing for acquisitions and single-deal vehicles, the practical answer is to treat the question as part of equity commitments, debt financing, rollover capital, seller financing, reserves, closing funds flow, and investor allocation, not as a one-off definition. The record should show sources and uses, investor commitments, lender term sheets, rollover agreements, seller notes, reserve assumptions, funds flow, and closing checklist so an investor, lender, counsel, administrator, or operating lead can reconstruct the decision later. Tie every source to evidence of availability and every use to a purchase agreement, fee quote, reserve policy, or closing requirement. The common failure mode is using a high-level schedule that does not match lender proceeds, investor allocations, escrow amounts, or final closing statements.