Opening Remarks by CFMA National

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Michelle D. Eastman, CCIFP, Chairman

North Mechanical Contracting & Service
Indianapolis, IN 46218

Central Indiana Chapter 

ANALYZING your wip report and other benchmarking

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Randy Watkins - ACM, LLP

Walk through a number of different ways to analyze your WIP schedule for potential risks, to improve profitability,  and to better understand where your Company is most successful.  Also, benchmarking and trend analysis over key performance indicators that are typically of interest to sureties and banks.  


About the speaker: Randy takes a special interest in getting to know each client and their desired outcomes, as this allows him to deliver the services that helps them accomplish their goals. With nearly 20 years of experience working at ACM and BDO, he is able to identify opportunities to make practical improvements in operational efficiencies and internal controls over financial reporting and accounting.

He specializes in auditing and advising governmental and nonprofit organizations, as well as privately held and publicly traded companies in various industries including construction and technology. The intimate knowledge he gains from these audits, coupled with his analytical skills, enables him to help his clients look beyond the numbers to the story their financial statements tell.

Not only is Randy a trusted advisor to his clients; he’s also a valuable contributor to the accounting industry. He is a former member of both the Executive Committee of the American Institute of Certified Public Accountants (AICPA) Government Audit Quality Center and the planning committee for the AICPA’s annual Government Accounting and Auditing Conference (GAAC). He regularly presents on technical topics at AICPA’s Government and Construction conferences.

A firm believer in giving back to his community, Randy is heavily involved in charitable organizations throughout northern Colorado.

Randy and his wife Nicole have two daughters. A native Coloradan, he enjoys being outside with his family all year round – golfing, camping, snowboarding, and water skiing.

Intriguing employe benefits strategies for cost containment

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Nataliya Boychenko - Holmes Murphy

During the session, we will review trends in employee benefits including increasing medical trends, new specialty medications, etc.  We will look at the strategies employers are taking to address the increasing cost and the development of the disease within their population.  We will discuss various upcoming funding trends as a way to control cost such as Association Health Plans, Employee Benefit Captives, minimum funding and the differences between self-funding strategies.  We will also look at unique third party additional services that could help with the cost containment. 



Tax credits & Incentives for the CONSTRUCTION industry

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Kevin Sullivan - Brayn Consulting

This session will focus on high-value Specialty Tax Incentives for the Construction Industry, how they have changed in 2019 and what is needed to maximize the incentives. The session will be given by BRAYN and a construction executive (or CPA firm partner) and highlight the significance of the Research & Development (R&D) tax credit, illustrate how it applies to the construction industry, and give examples of how companies can better position themselves to take advantage of the credit with proper documentation.  Additionally, with the anticipated extension of the 179D Energy Efficient Commercial Building Deduction, the session will describe how contractors can potentially receive allocated deductions for certain government projects.


 Kevin is a rare combination of engineer and tax consultant. He works with businesses and their CPAs to identify lucrativefederal and state tax incentives. Kevin has helped companies save over $100,000,000 through R&D Tax Credits, 179DEnergy Efficient Deductions, Cost Segregation, & other specialty incentives.  



Today's construction M&a MArket

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Ryan Foley - FMI Capital Advisers

This presentation will explore the 2019 trends in the construction merger and acquisition climate.  It explores the increasing impact of energy efficiency on construction, especially the specialty trades, the emergence of ESOPs as an alternative exit strategy, changes in valuation multiples across the E&C world, and other key developments that can impact stakeholders in construction.


 I am a Managing Director with FMI Capital Advisors. I have almost 20 years of experience in investment banking. During my investment banking career, I have focused almost exclusively on advising middle market companies on M&A transactions, private placements and public equity and debt offerings.


✭ Almost 20 years of experience providing M&A capital raising services to middle market companies in a number of industries including construction, energy, technology, industrials, E&P, oilfield services and business services.


✭ Diverse exposure to sell-side and buy-side M&A assignments, private and public capital raising and other financial advisory services totaling $2.5 billion worth of transactions.


✭ History of executing investment banking transactions and performing private and public company valuations.


I would like to connect with business professionals and executives wanting to grow and strengthen their companies’ successes and bottom-line results with creative strategies & solutions. I will also provide valuable contacts and company/industry insights. I have access to private equity firms and other investment entities seeking to make investments across the industries mentioned above.   

Sales Tax Considerations for contractors in light of wayfair

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Mary Reiser - BKD

The presentation will discuss general changes to sales tax nexus based on the recent Wayfair ruling and how this will affect the construction industry (with a particular focus on CO and surrounding states). The presentation will include real-world examples and practical advice on how to comply with the new changes. 


 

A member of BKD’s State and Local Tax (SALT) Services division, Mary is a CPA with more than 12 years of experience providing tax compliance and consulting services.  She focuses on compliance and consulting for various SALT issues involving multistate entities, including planning, provisions, audit defense, nexus and apportionment analysis and voluntary disclosure.  She performs buy- and sell-side due diligence for state and local tax purposes, identifying opportunities, exposures and taxes that affect the transaction.

She reviews all areas of state and local tax and detects issues that provide negotiation leverage to buyers and sellers.  Mary has experience working with almost every industry on transaction issues, including buyers and sellers of public companies and private equity.  Her primary compliance and consulting experience is in the areas of income and franchise tax and sales and use tax.  

She is a member of the American Institute of CPAs and Nebraska Society of Certified Public Accountants.

Mary is a 2005 graduate of University of Nebraska, Lincoln, with a B.S. degree in accounting with honors and highest distinction and in 2006 received an MPA degree.

BUSINESS INTELLIGENCE/data INTEGRATION

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Bob Tinglestad, Shane Brown, Sean Mcbride - Plante Moran

Construction companies have a reputation for being late adopters of technology.  That said, these companies have a great opportunity to leverage data to begin making more informed decisions.  The purpose of this presentation is to inform financial decision makers of the possibilities of utilizing data more effectively.

The Business of Politics in our Health Care

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Nataliya Boychenko - Holmes Murphy

During the session we will review the state of Health Care in the United States compared to those of other developed countries.  We will look at the history of the Private Payer system and contrast that to the Social Systems in other countries.

Practical steps to better protect your 401k

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Jason Lewis - Raymond James & Associates

There are many action steps that can be taken to better protect your company and your employees participating in your retirement plans.  This presentation will walk you through the process you can take with the structure of your plan as well as your on-going plan management that are practical and easily implementable.  It will also teach you how to properly document your stewardship as a critical step in evidencing the delivery of the prudent management of your company’s retirement plan.


 

Jason is a CERTIFIED FINANCIAL PLANNER™ practitioner and an Accredited Investment Fiduciary® with over fourteen years of experience as a financial advisor. He has guided numerous individuals, executives and businesses through the complex process of developing and implementing strategic wealth management solutions that encompass the entire spectrum of their financial needs. His areas of expertise include investment analysis and portfolio construction, corporate retirement benefits planning, estate and tax planning, risk management, retirement and education planning, philanthropic planning, multi-generational planning and financial education.

Jason received his B.A. in Business at Western State Colorado University. He earned the designation of CERTIFIED FINANCIAL PLANNER™ practitioner in 2006.

He and his wife Sarah have been together for over 10 years. Together, with their daughter Vivienne, they enjoy being in the outdoors, camping, mountain biking, rafting, skiing and hiking

Leases and what does it mean for contractors

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Chris Dauces & Kelly Witte - Rubin Brown

The presentation will outline the new lease standard and the requirements of implementations. Additional topics will include key changes, impact on financial reporting, and stakeholders of the construction industry. Lastly, we will discuss what to look for in lease agreements to help identify accounting impact. 




WIP Analysis

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Ken MacGregor - Gilmore Construction

  

Ken was raised in Southern Ontario, Canada, completed college in accounting a long, long, long time ago. His career involved senior financial positions including ownership roles spanning both professional service and construction companies in multiple market segments. His first career job was in Northern Ontario working out of a construction trailer as a Job Site Cost Accountant. During this period, time keeping was done by paper.  Superintendents demanded daily on-site cost reports to be compiled on columnar paper utilizing Standard Costing methods. It makes you wonder how far we have progressed with expensive technology vs pencil and paper.

Ken’s Canadian career involved rising through small to mega EPC Construction companies that utilized multi-country Economic Development Financing to construct a $1.2 billion (1982 dollars) sized LNG facility in Algeria. The next career move was Accounting Manager Canada, for a Denver based construction company expansions to Canada. Specializing in large underground civil and mining projects throughout Canada they utilized the Joint Venture organization model with specialty partners for each project. Ken was transferred to the US headquarters for the position Business Manager - Mining Division North/South America. Ken’s US experience has included starting, growing, merging and selling a professional service firm growing to 6 US offices and expansion to Asia headquartered in Shanghai China.

A recruiter once shared with Ken, “I can successfully recruit professionals every day to relocate to Colorado, it’s impossible to recruit professionals to leave Denver”.  Yes, Ken falls in the latter group as he enjoys Colorado’s playground of outdoor activies including skiing, golf and mountain biking.