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Bimonthly Newsletter of Chicago CFMA

April 2018 
Letter from the President 
I am honored for the opportunity to serve as your new board president for the next two years. My first course of business is to thank this past year's Leadership Team for their time and talents, both of which have resulted in innovative and successful programing for our membership. I especially want to thank Mary Davolt, who served as President of the Chicago Chapter for the past two years. Under her leadership chapter membership increased by almost 25%; an incredible accomplishment. I think I have some big shoes to fill.

Our chapter has many exciting programs and events scheduled in the coming months. I encourage you to visit the chapter website ( to see a complete list of upcoming events. While you're on the website, check out our "Get Involved" tab to learn more about our committees and volunteer opportunities.  We are always looking for new ideas and participation from our members.

Finally, I would like to take this opportunity to congratulate our 2018 Build Chicago Award winners Beth Swanson-Verdun, Alex Warner, David Sauerman, and Pepper Construction. Please join us on May 10 at the Standard Club as we honor the winners for their contributions to CFMA and the construction industry. Look for more information about Build Chicago and all upcoming events in this issue.

Theodore Roosevelt once said "No one cares how much you know until they know you care." These words resonated with me from the moment I heard them. Please know, I truly care about CFMA and the Chicago Chapter and will do everything I can to continue its successes.

Thank you again for this opportunity.
Tamara Kilty 
Chapter President
Featured Platinum Sponsor 
CliftonLarsonAllen Logo
Reconstructing Taxation: Strategies for Construction 
The highly anticipated tax legislation has completed its epic journey through Congress. The Tax Cuts and Jobs Act offers several rate cuts and improved expensing treatment for pass-through and corporate businesses, including some special changes aimed exclusively at the construction and real estate industries.

Most provisions are effective beginning in 2018 (though many are effective only for 7 to 10 years before reverting to existing law, absent further legislation). The temporary nature of these law changes is an unfortunate reality for business planners. Further, because it is solely a Republican initiative, these changes may be vulnerable if the balance of control in Congress shifts.

This article is focused on the impacts on, and opportunities for, construction and real estate businesses, including those operating as pass-through entities and C corporations.
Click Here to read the complete article. 
Join fellow CFMA members and industry leaders as we celebrate the best of CFMA and our ten year anniversary of recognizing those members and companies making a difference in the Chicago construction market.

Keynote Speaker Sponsor
Keynote Speaker: Scott Sonenshein is the Henry Gardiner Symonds Professor of Management at Rice University and author of Stretch: Unlock the Power of Less - And Achieve More Than You Ever Imagined. His award-winning research, teaching, and consulting has helped Fortune 500 executives, entrepreneurs, and professionals in industries such as technology, energy, healthcare, retail, education, banking, manufacturing, and non-profits.  Read full bio here

New Location!  Standard Club of Chicago  
CFMA Members and Guests: $80.00
Table of 10: $750.00
The course will cover the basic accounting aspects of WIP - how to calculate, account for, and reconcile costs. The information will explore the perspective of an internal analysis covering cash flow related to jobs, management and analysis tools, estimated costs to complete and projecting future profits using budgeting and forecasting. Attendees will learn the significance of their WIP schedule from the third party user's perspective and why ensuring its successful performance is necessary to the credibility of your business.

Shawn Erickson, CPA CCIFP, C.J. Erickson Plumbing
Mary Davolt, CPA, CCIFP, Pernix Group

CPE Credit: This course earns 4.0 CPE credits in the field of Accounting.
Who Should Take This Course? Controllers, CFOs, Project Managers, Project Estimators, and anyone who needs a better understanding of a WIP schedule.

CFMA & NECA Members: $125.00

Non-Members: $150.00
May 21st | 7:30 a.m. check-in | 8:00 a.m. Program

Click Here for more information on the CPE and to Register 
Join CFMA Members for a summer evening in the city, and partake in a friendly game of table tennis.  Yes, table tennis.  This isn't your typical basement ping pong we are talking about!  SPiN is an upscale table tennis social club with music, good eats and beverages, conveniently located in Chicago's River North area.  CFMA Chicago chapter has reserved a combination indoor/outdoor space at the club, including private bar and game tables. 
Cost: $60.00 per person | Includes food, games and open bar 


 Visit CFMA's new site at for all the
2018 Annual Conference & Exhibition details!
 Craig Serpa - Complete Northern Illinois Fence, Inc.
 Kristy Mattson - Northern Glass, Inc. 
Thomas Madura - BMO Harris Bank 
Susan Remis - Baker Tilly 
Dave Potak - Navigant  
Kristin Evers - Concord Excavating Enterprises, Inc.  
James Lancaster - Curran Contracting 
Rau'Shaun Muhammad - Commerce Bank
Ward Powell  - The Ward Powell Group
Paul Kloet - Big Construction LLC
Steven Vitner - Pepper Construction Group
Nickole Capps - Madison Construction 
2018 Platinum Sponsors