Full Agenda

Agenda is in Pacific Standard Time (PST)

Each session is designated for CPE credits. Session titles & speakers are subject to change.

Wednesday, November 3, 2021

11:00 AM – 5:00 PM

Registration Open

11:00 AM – 11:10 AM

Opening Remarks

11:10 AM – 12:25 PM

Opening General Session: CFO Roundtable

Sponsored by:

12:25 PM – 12:45 PM

Break

12:45 PM – 2:00 PM

General Session: AGC Political Update

Speaker: Matt Turkstra, AGC of America

2:00 PM – 2:20 PM

Break

Sponsored by:

2:20 PM – 3:35 PM

Concurrent Sessions

Everything You Need to Know About ESG

Speaker: Scott Kimpel, Hunton Andrews Kurth LLP

ESG—Environmental, Social, Governance—is the latest movement impacting American businesses.  Once a concern of only large, multinational businesses, ESG now impacts businesses of all sizes, and the Biden Administration has made ESG a regulatory and legislative priority. This session will provide an introduction to ESG and discuss many relevant topics for contractors and the construction industry, including reporting standards, pending regulations, reputational risks, and increased use of ESG metrics in government contracting.

Financial Markets Update

Speaker: H. Edward Shill, QCI Asset Management Inc.

Find out more about the overall state of the economy and financial markets and how best to structure your investment strategy. Topics will include discussions on the stock market, interest rates, individual stocks, and selected investment ideas for the balance of 2020 and into 2021.

Learning Objectives:

  1. Attendees will walk away with up-to-the-minute conversations about the state of the economy and the outlook for financial markets.
  2. Attendees will walk through how to contain risk in investment portfolios, whether it be their own IRA or 401-K plans or company plans where they may have fiduciary responsibilities.
  3. Attendees will see first hand how not to engage in typical, money losing, behaviors.

This session is designated for 1.5 CPE credits in the field of Finance

ESOPs- The Tax Advantaged Exit Strategy for Construction Owners

Speakers: Keith Mericka and Patrice Radogna

2021 is turning out to be one of the hottest years for construction companies selling their companies to an ESOP. What are these business owners seeing and why the increased interest?  Three factors that appear to be driving this:  Strong sales price multiples in 2021 , significant looming changes in taxes that will affect both the selling shareholder and the company’s bottom line (on a post-tax basis) and, mental readiness to exit or monetize after particularly trying year – the year of the pandemic. We will discuss the fundamentals of an ESOP, good candidates for an ESOP, the significant tax benefits, pros and cons for construction companies and, finally, details of the process of getting an ESOP transaction complete.

Mental Health

Speaker: Cal Beyer, CSDZ

Mental health and well-being are an invisible crisis in construction. Before the pandemic, the construction workforce had issues with mental health, substance use disorders and suicide risk. These issues have been exacerbated by the pandemic. Employees are the core strategic asset in human capital risk management. Many construction companies have been successfully addressing these “elephants in the room.” Has your company considered the hidden costs and risks of not adequately addressing mental and behavioral health of your workers? Learn how a holistic approach to well-being can reduce the serious risks associated with presenteeism.

Learning Objectives:

  1. Why mental and behavioral health is the invisible crisis in construction
  2. The hidden costs and risks of not addressing mental health in your company
  3. Why drug testing is no longer enough
  4. Impact of presenteeism on productivity, quality, risk and safety
  5. Understand how physical and mental health comorbidities escalate claim costs
  6. How to institute a holistic approach to well-being to reduce risks and costs

This session is designated for 1.5 CPE credits in the field of Specialized Knowledge

3:35 PM – 3:55 PM

Break

Sponsored by:

3:55 PM – 5:10 PM

Concurrent Sessions (Repeated)

Everything You Need to Know About ESG

Speaker: Scott Kimpel, Hunton Andrews Kurth LLP

ESG—Environmental, Social, Governance—is the latest movement impacting American businesses.  Once a concern of only large, multinational businesses, ESG now impacts businesses of all sizes, and the Biden Administration has made ESG a regulatory and legislative priority. This session will provide an introduction to ESG and discuss many relevant topics for contractors and the construction industry, including reporting standards, pending regulations, reputational risks, and increased use of ESG metrics in government contracting.

Financial Markets Update

Speaker: H. Edward Shill, QCI Asset Management Inc.

Find out more about the overall state of the economy and financial markets and how best to structure your investment strategy. Topics will include discussions on the stock market, interest rates, individual stocks, and selected investment ideas for the balance of 2020 and into 2021.

Learning Objectives:

  1. Attendees will walk away with up-to-the-minute conversations about the state of the economy and the outlook for financial markets.
  2. Attendees will walk through how to contain risk in investment portfolios, whether it be their own IRA or 401-K plans or company plans where they may have fiduciary responsibilities.
  3. Attendees will see first hand how not to engage in typical, money losing, behaviors.

This session is designated for 1.5 CPE credits in the field of Finance

ESOPs- The Tax Advantaged Exit Strategy for Construction Owners

Speakers: Keith Mericka and Patrice Radogna

2021 is turning out to be one of the hottest years for construction companies selling their companies to an ESOP. What are these business owners seeing and why the increased interest?  Three factors that appear to be driving this:  Strong sales price multiples in 2021 , significant looming changes in taxes that will affect both the selling shareholder and the company’s bottom line (on a post-tax basis) and, mental readiness to exit or monetize after particularly trying year – the year of the pandemic. We will discuss the fundamentals of an ESOP, good candidates for an ESOP, the significant tax benefits, pros and cons for construction companies and, finally, details of the process of getting an ESOP transaction complete.

Mental Health

Speaker: Cal Beyer, CSDZ

Mental health and well-being are an invisible crisis in construction. Before the pandemic, the construction workforce had issues with mental health, substance use disorders and suicide risk. These issues have been exacerbated by the pandemic. Employees are the core strategic asset in human capital risk management. Many construction companies have been successfully addressing these “elephants in the room.” Has your company considered the hidden costs and risks of not adequately addressing mental and behavioral health of your workers? Learn how a holistic approach to well-being can reduce the serious risks associated with presenteeism.

Learning Objectives:

  1. Why mental and behavioral health is the invisible crisis in construction
  2. The hidden costs and risks of not addressing mental health in your company
  3. Why drug testing is no longer enough
  4. Impact of presenteeism on productivity, quality, risk and safety
  5. Understand how physical and mental health comorbidities escalate claim costs
  6. How to institute a holistic approach to well-being to reduce risks and costs

This session is designated for 1.5 CPE credits in the field of Specialized Knowledge

5:10 PM – 6:10 PM

Welcome Reception

Sponsored by:

Thursday, November 4, 2021

7:00 AM – 5:00 PM

Registration Open

7:00 AM – 7:45 AM

Continental Breakfast

Sponsored by:

7:45 AM – 8:00 AM

Opening Remarks

8:00 AM – 9:15 AM

General Session: The Business and Cultural Case for Diversity & Inclusion

Speaker: Mel Jones, JE Dunn Construction

Do you still cringe when you hear the topic of Diversity & Inclusion? Are you more apprehensive on how to approach the subject today then you were last year?  Are you confused on how any of this makes financial sense?  Please believe me you are not alone.

This presentation provides another perspective not often discussed and that’s the strong financial benefit of a well planned and executed inclusion program.

Learning Objectives:

  1. Demonstrate how proper inclusion is profitable
  2. Why Inclusion should be part of your business plan
  3. Tips to maximize and utilize your Diversity and Inclusion Professionals

This session is designated for 1 CPE credit in the field of Personnel/Human Resources

9:15 AM – 9:35 AM

Break

Sponsored by:

9:35 AM – 10:35 AM

Concurrent Sessions

Tax Update

Speakers: Jim Lundy, Marcum LLP and Kelli Franco, Moss Adams, LLP

Interactive Session with discussions related to Construction Income Tax Updates and Planning, including:

  • Review of Proposed Tax Law changes and their impact on the Construction Industry
  • Highlights of 2021 IRS Construction Industry Audit Technique Guide
  • Tricks and Traps related to tax planning and preparation for Construction Contractors

Why Projects Fail

Speaker: Mike Clancy, FMI Corporation 

Project failure in the construction industry afflicts firms and projects of all sizes and levels of complexity. At the top end of the market, research indicates that fully two thirds of megaprojects, those over one billion dollars of contract value, fail to deliver on the value, cost, schedule, or quality expected. Throughout the industry, project failures are endemic and contribute more frequently to the collapse of contracting businesses than any other cause.

In this session, Mike Clancy, Partner and Strategy Practice Lead at FMI, will share the reasons projects go bad, as well as key considerations to protect yourself and your firm from these challenges. Drawing on over 20 years of personal industry experience, as well as post-mortem involvement in dozens of high-profile failed projects, Mike will walk through the leadership and operational performance issues that can doom a project to failure – or the strategies and approaches to prevent the same.

Cannabis and the Construction Industry

Speakers: Nick Richards and Carol Sigmond

Join our speakers as they provide an overview on the legalized cannabis industry at the state level and cover the unique tax and financial problems the industry faces. The presentation will then shift to focus on the interaction between the construction and cannabis industries and some of the issues facing construction companies that work in the cannabis space such as cash management, licensing concerns, worker safety, insurance issues, employers rights, zoning, and leasing issues, among many other concerns cannabis businesses need to consider.  

Top Construction Technology Trends

Speaker: Bassem Hamdy

Although construction may not be the most progressive industry, Construction Technology (ConTech) is experiencing rapid growth, and greater adoption than ever before. Contractors who invest in technology are statistically more profitable than those who don’t. CFOs need to stay up-to-date on the latest technology trends in order to remain financially competitive in today’s market.

During this session, noted ConTech SME Bassem Hamdy will discuss the 2021 events that have impacted the industry, where technology is right now, and what trends can be expected in the near future.

Learning Objectives

In this presentation, attendees will learn:

  • Who are the current winners (and less successful) players in ConTech
  • What are the most important tech resources for CFOs to adopt today
  • How will the US Infrastructure program impact construction technology

10:35 AM – 10:55 AM

Break

10:55 AM – 11:55 AM

Concurrent Sessions (Repeated)

Tax Update

Speakers: Jim Lundy, Marcum LLP and Kelli Franco, Moss Adams, LLP

Interactive Session with discussions related to Construction Income Tax Updates and Planning, including:

  • Review of Proposed Tax Law changes and their impact on the Construction Industry
  • Highlights of 2021 IRS Construction Industry Audit Technique Guide
  • Tricks and Traps related to tax planning and preparation for Construction Contractors

Why Projects Fail

Speaker: Mike Clancy, FMI Corporation 

Project failure in the construction industry afflicts firms and projects of all sizes and levels of complexity. At the top end of the market, research indicates that fully two thirds of megaprojects, those over one billion dollars of contract value, fail to deliver on the value, cost, schedule, or quality expected. Throughout the industry, project failures are endemic and contribute more frequently to the collapse of contracting businesses than any other cause.

In this session, Mike Clancy, Partner and Strategy Practice Lead at FMI, will share the reasons projects go bad, as well as key considerations to protect yourself and your firm from these challenges. Drawing on over 20 years of personal industry experience, as well as post-mortem involvement in dozens of high-profile failed projects, Mike will walk through the leadership and operational performance issues that can doom a project to failure – or the strategies and approaches to prevent the same.

Cannabis and the Construction Industry

Speakers: Nick Richards and Carol Sigmond

Join our speakers as they provide an overview on the legalized cannabis industry at the state level and cover the unique tax and financial problems the industry faces. The presentation will then shift to focus on the interaction between the construction and cannabis industries and some of the issues facing construction companies that work in the cannabis space such as cash management, licensing concerns, worker safety, insurance issues, employers rights, zoning, and leasing issues, among many other concerns cannabis businesses need to consider.  

Top Construction Technology Trends

Speaker: Bassem Hamdy

Although construction may not be the most progressive industry, Construction Technology (ConTech)  is experiencing rapid growth, and greater adoption than ever before. Contractors who invest in technology are statistically more profitable than those who don’t. CFOs need to stay up-to-date on the latest technology trends in order to remain financially competitive in today’s market. 

During this session, noted ConTech SME Bassem Hamdy will discuss the 2021 events that have impacted the industry, where technology is right now, and what trends can be expected in the near future.

Learning Objectives

In this presentation, attendees will learn: 

  • Who are the current winners (and less successful) players in ConTech 
  • What are the most important tech resources for CFOs to adopt today 
  • How will the US Infrastructure program impact construction technology 

11:55 AM – 12:45 PM

Lunch

Sponsored by:

12:45 PM – 2:00 PM

General Session: Cyber/Fraud: “Cheats and Hustlers”

Speaker: Angela Morelock

2:00 PM – 2:15 PM

Break

2:15 PM – 3:05 PM

Concurrent Sessions

Surety/SDI/Underwriting

Accounting Update

Speakers: Jason Myers, BKD and Jamie Tancos, BKD

Join BKD’s Jason Myers and Jamie Tancos for an engaging update on leases as well as revenue recognition. The presenters will also dive into a market update, including key industry topics that are on the minds of construction CFMs.

TBD

Tales From the Front Lines of the Battle with the IRS

Speaker: John Werlhof, CliftonLarsonAllen LLP

Federal and state governments are ramping up enforcement efforts as a way to generate additional revenue. During this session we will discuss common audit issues for construction contractors, including potential audit risk areas arising from COVID-related stimulus measures. We will address proactive steps to reduce the likelihood of an examination and increase the likelihood of favorable resolution of tax controversies once selected for an examination.

3:05 PM – 3:25 PM

Break

3:25 PM – 4:15 PM

Concurrent Sessions (Repeated)

Surety/SDI/Underwriting

Accounting Update

Speakers: Jason Myers, BKD and Jamie Tancos, BKD

Join BKD’s Jason Myers and Jamie Tancos for an engaging update on leases as well as revenue recognition. The presenters will also dive into a market update, including key industry topics that are on the minds of construction CFMs.

TBD

Tales From the Front Lines of the Battle with the IRS

Speaker: John Werlhof, CliftonLarsonAllen LLP

Federal and state governments are ramping up enforcement efforts as a way to generate additional revenue. During this session we will discuss common audit issues for construction contractors, including potential audit risk areas arising from COVID-related stimulus measures. We will address proactive steps to reduce the likelihood of an examination and increase the likelihood of favorable resolution of tax controversies once selected for an examination.

4:15 PM – 4:30 PM

Break

4:30 PM – 5:45 PM

Roundtable Breakouts

Family Business Roundtable

One of the unique aspects of the construction industry is the incredible number of family owned businesses.  Come join us as we delve into working in a family business from both inside and outside of the family.  In this interactive session we will discuss personnel issues, family drama and other complicated facets of this huge segment of the construction industry.

Tax

Interactive panel/participant program addressing hot issues relative to income tax strategies and techniques, procedures to adopt and adapt to changes with focus on questions from conference participants.

Accounting and Audit

This will be a thought provoking roundtable format discussing the accounting issues and the implementation challenges facing construction industry financial professionals. We will cover many terms/concepts like relevance, applicability, significance, materiality, acceptance and consistency. At the same time putting to rest; rumors, hearsay and conjecture we have heard from our peers and colleagues especially at gatherings around the so called watering hole.

Technology Roundtable

The construction technology landscape is entering a new era – paving the way for a more connected future during the project lifecycle. Leaders see how technologies are changing the game with efficiencies, cost savings, data capture and reporting. Many of us are responsible for, or involved with, how to innovate practices for accounting, operations, security and compliance. With the next phase of the construction information technology revolution around the corner, are you ready? This roundtable discussion will focus on strategy, budget, implementation, products and the challenges of keeping up as consumer tech evolves.

5:45 PM – 6:45 PM

Evening Reception

Sponsored by:

Friday, November 5, 2021

7:00 AM – 12:00 PM

Registration Open

7:00 AM – 7:30 AM

Continental Breakfast

7:30 AM – 8:45 AM

General Session: FASB Update

Speaker: Jim Kroeker, Financial Accounting Standards Board

Like other industries, the construction industry is experiencing significant changes in financial reporting including change driven by the effects of the coronavirus pandemic. During this session, FASB Vice Chairman Jim Kroeker will look at how the FASB is helping stakeholders successfully navigate new and existing accounting rules during this period of uncertainty. He’ll also discuss how the Board is ensuring major accounting standards, such as leases, are performing up to expectation through the Board’s post-implementation review process, and provide an overview of key projects on the FASB’s agenda.

At the end of this session, participants will be able to:

  1. Identify 1-2 actions taken by FASB to support stakeholders since the onset of the COVID-19 pandemic
  2. Identify 1-2 objectives of the FASB’s Post-Implementation Review (PIR) process
  3. Identify 1-2 FASB projects currently under PIR review.

This session is designated for 1 CPE credit in the field of Accounting

8:45 AM – 9:00 AM

Break

9:00 AM – 10:15 AM

General Session: U.S. Construction Outlook: Pandemic Impacts, Policy Initiatives, Project Implications

Speaker: Ken Simonson, AGC of America

Although the U.S. economy overall is staging a historic growth spurt, the situation for construction is much more mixed. This session will present current trends regarding construction employment by segment and location; spending by project type; and materials cost and supply-chain issues. The speaker will discuss how the industry might be affected by a resurgence of the pandemic, enactment of various types of spending and tax legislation, and policy initiatives regrading trade and labor.

10:15 AM – 10:30 AM

Break

10:30 AM – 11:20 AM

Concurrent Sessions

Compensation Benchmarking and Pay Comparisons

Speaker: Jeff Robinson, PAS, Inc. 

The competition to attract and retain great employees remains intense with pay playing a big part in maintaining a strong workforce.  Aligning your pay program with the marketplace now, will ensure you have a reliable program in 2022. This session addresses current pay trends, strategies to recruit and retain critical talent, steps to interpret market data and benchmark your people with the industry, selective pay comparisons. and the strategies necessary to maintain a solid compensation program. 

Learning Objectives:

 o    Identify current market trends that affect your overall compensation program. 
o    Establish pay strategies and examine benchmarking techniques between your positions and survey data. 
o    Examine actual pay comparisons for essential operational and financial positions. 
o    Interpret pay trends and what to look for as trigger points on escalation or stagnation issues. 
o    Recognize the actions necessary to align your pay package with the marketplace, ensuring an effective compensation program. 

Captives and Insurance More Broadly

11:20 AM – 11:35 PM

Break

11:35 AM – 12:25 PM

Concurrent Sessions (Repeated)

Compensation Benchmarking and Pay Comparisons

Speaker: Jeff Robinson, PAS, Inc. 

The competition to attract and retain great employees remains intense with pay playing a big part in maintaining a strong workforce.  Aligning your pay program with the marketplace now, will ensure you have a reliable program in 2022. This session addresses current pay trends, strategies to recruit and retain critical talent, steps to interpret market data and benchmark your people with the industry, selective pay comparisons. and the strategies necessary to maintain a solid compensation program. 

Learning Objectives:

 o    Identify current market trends that affect your overall compensation program. 
o    Establish pay strategies and examine benchmarking techniques between your positions and survey data. 
o    Examine actual pay comparisons for essential operational and financial positions. 
o    Interpret pay trends and what to look for as trigger points on escalation or stagnation issues. 
o    Recognize the actions necessary to align your pay package with the marketplace, ensuring an effective compensation program. 

Captives and Insurance More Broadly

The Construction Financial Management Association (CFMA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Website: www.nasba.org.

The Certified Construction Industry Financial Professional (CCIFP) designation is the only standard to recognize financial professionals who truly know the business of construction. Credits earned at this conference are eligible toward CCIFP recertification requirements.

About the Conference

The Construction Financial Management Conference is jointly sponsored by the Associated General Contractors of America (AGCofA) and the Construction Financial Management Association (CFMA). This conference is specifically for financial professionals in the construction industry to dialogue and address situations unique to the industry.

If you are an owner, CFO, controller, CPA, auditor, consultant, banker, surety or legal professional … this conference is for you.

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