Closeout Checklist
If you do not already have one, this is a good closeout checklist to adopt. You will have to give your contact information for marketing follow-up, but it might be worth the effort. It includes a list of documents you need to provide at completion, final payment and release of lien waivers, certificate of completion and evaluation. Click here to sign in to download the checklist.
Who Pays for Payment Software?
We have learned that one owner in our area uses Textura to pay the subs directly once the GC has processed their requisition. That Owner charges a nominal fee for the use of Textura, but the payments go directly to the subs without passing through the GC. One of our members says, “It is a direct benefit to subs to be paid directly from the owner – I would gladly pay for the service. Likewise, the change orders are likely financed faster, too. This, I would think, would be a win on both sides (GC and Sub).” What do you think? Would love to hear from our GC Partners as well as members.
Hispanic Heritage Month
Hispanic Heritage Month is Sept. 15 – Oct. 15. This is a big deal to a lot of our members and the workers we depend on. What is your company doing to commemorate Hispanic Heritage Month? What should your association do?
Where is Private Construction?
According to this report from the Census Department, private construction in 2023 was down 23.9% in DC, up 3.9% in Maryland and up 8.2% in Virginia. Are you projecting similar numbers for this year?
Additionally, this Construction Dive article evidences growth in sectors other than data centers – education, life sciences and healthcare.
What is your market? Is it growing or slowing? Some of our members who are the first on the job are reporting a slowdown. Your comments are welcome.
Straight (and Confidential) Talk about Using Independent Contractors
What risks do you need to assess before deciding to use independent contractors? Many of our members resort to second tier subcontractors on their projects. What do you need to do to comply with current laws regarding independent contractors? If you do not comply, what is your risk? On Sept. 25th at the law offices of Lerch Early & Brewer in Bethesda, members will not only hear current information but can also ask confidential questions about their operations to assess the risk they are taking. Click here for more information and to register.
Is There an Easier Way?
AI issues will be addressed at the joint ASAMW/CFMA event at the Tower Club in Tysons on Sept. 10th. We have found companies that specialize in AI solutions in construction to give you a glimpse into the future that is not far away. Share your experience with other members of CFMA and ASAMW on how AI is affecting their business in areas such as: billing, contract review, project management and more. Click here for more information and to register for the AI Event.
Non-members Should Read This
Why not give to the ASAMW Advocacy Fund? There are more non-members reading this newsletter than members. You can do your part to support our advocacy activities by donating to the ASAMW advocacy fund. All of these funds are earmarked for legislative and advocacy efforts and not used for other purposes. Click here to donate any amount you can.
Remember Oct. 1st – the Scheduling Summit
Scheduling challenges will be discussed at the upcoming ASAMW event on October 1, 2024, Building Success Together: A Summit for General Contractors & Subcontractors at the Bethesda North Marriott. What are your thoughts? We expect to see all the GC Partners as well as members who wish to discuss strategies to accomplish fairness. Click here for more information and to register.
MEMBER UPDATES
Preferred Insurance offers an excellent paper on Heat Stroke. Click here to read it.
Thompson Greenspon is pleased to announce that Gray Coyner, Principal and Construction & Real Estate niche leader, has been appointed the 2024-25 President-Elect for the Construction Industry CPAs and Consultants Association (CICPAC). They also announced the following promotions: David B. Nazari, CPA – Audit Manager, Iryna R. Passerini, CPA – Audit Manager, Gysel M. Bolden – Senior Accountant, Andrea C. Johnson – Tax Senior.
New GC Partner, DAVIS, is doing something about the critical shortage of workers in our industry. Click here to read the WBJ article.
UPCOMING EVENTS
June 25, 2024 – Negotiating Project Labor Laws
September 5, 2024 – ASAMW Fall Golf Tournament
September 10, 2024 – SAVE THE DATE - Joint CFMA/ASAMW Event
September 17, 2024 – GC Partner Meet and Greet – Clark Construction
October 1, 2024 – Building Success Together: A Summit for General Contractors & Subcontractors (NOTE: This is rescheduled from Sept 24)
October 29, 2024 – SAVE THE DATE - Frontrunners Ghost Tour
February 22, 2025 – SAVE THE DATE – 61st Annual Subby Awards Gala
