Hello, this might be of interest to some of you.
Thursday, January 9th, 2025, 6:30pm US Eastern
Section Meeting / Webinar NoticeTechnical Session: US & International Productivity Issues:
How They Impact Construction Costs & SchedulesDetermining construction labor productivity variations between different regions of the USA and overseas countries is a challenging undertaking; it is highly subjective and constantly changing. In this presentation, John McConville will discuss the various factors his company tracks internationally that impact construction productivity, such as:
• Weather conditions / Local worker skills
• Training / Supervision issues
• Supply chain issues / COVID impact
• Skilled worker shortages / Crew size
• Offsite module / Pre-assemblies / Piping fabrication
• Union vs. Open Shop labor issues
• In-direct logistics / Support / Importation issues• Construction equipment utilization and lack of correct equipment______________________________________________________________Speaker: John G. McConville, CCP
Owner, Operations Director
Compass International
Original Message:
Sent: 1/7/2025 4:31:00 PM
From: Kyle Palmer
Subject: RE: Retention in Cashflows
Good afternoon,
I am by no means an expert in this field, but did attempt to answer your question by gathering information from previous courses I've taken. I'll post my answer below, but have also escalated your question to other members of the community. Hopefully we can get some additional input soon.
General Contractor retention typically does not get included in projected cashflows until the point of release. Unless the GC retention will be released this month, it likely should be excluded from this month's project cash flow and included in future accruals.
It may be worth checking with your accounting department whether your projected cash flows are cash-based or accrual-based. If cash-based, then the answer above is valid. If accrual-based, then GC retention should be accrued in the time period that it was recognized as a liability to the project.
------------------------------
Kyle Palmer
Consultant
Dallas
kpalmer@k2consulting.com
------------------------------
Original Message:
Sent: 01-02-2025 03:33 PM
From: Anonymous Member
Subject: Retention in Cashflows
This message was posted by a user wishing to remain anonymous
Happy New Year!
When presenting Cashflow information for the month. Should the GC retention be included in the projected Cashflow or is this just covered in Accruals?