Jerry:
I am really surprised that you are in a position to have put your own out of pocket SV funds into completion of the rebuild of #1203 for the CHS. Is this the accepted industry practice (a fixed price contract?) for a tourist/ historic locomotive rebuild? Seems like time and materials + a % profit for your shop would be a more workable and profitable business model for your organizations.
I guess I am comparing it to my auto mechanic who once they get into the job what they find is then repaired or replaced. I would never expect my mechanic to fix things out of his own pocket. Obviously a locomotive rebuild is orders of magnitudes more complex and difficult to estimate until you know what you are working with... and even then the vagaries of dealing with obsolete, custom parts, etc. etc. would be extremely difficult to do on a fixed price basis. Does your contract with CHS allow for cost overruns and if not perhaps you can renegotiate based on what you have encountered. It just doesn’t seem right that the SV should be subsiding the CHS rebuild of this or any other project. My hat is of to you for "doing it right", I just wish your customer would learn what goes around comes around and do the right thing in compensating your shop for the work that has been done. We have already seen the result of perhaps cutting corners, incomplete work or taking the low bid on other work that they have contracted for.
Rod