Somerset Construction & A/E Team News
We will launch the
2010 Indiana Construction Industry Financial
Performance and Salary & Benefits Survey on January 25, 2010. This unique,
industry-specific survey provides valuable information about the financial
standing of the Indiana construction community, outlining salaries and
benefits by position, balance sheets, statements of operations and other
information as provided by participating general and trade contractors.
Somerset’s 2009 financial survey, based on 2008 financial results, indicated
Indiana contractors maintained strong financial performance in areas
including gross and net profit, working capital, debt-to-equity, equity and
cash flow. The economic recession and the trailing force on the construction
community had not yet had much impact on local contractors in 2008. One
indicator for most survey categories that a challenging environment was
evident can be found in months in backlog. Not surprising the three biggest
concerns identified were health care costs, sources of future work and
federal tax legislation.
Ken Hedlund
states, "Since last year's survey, the economy has changed dramatically. Less work,
more competition, reduced margins and slower pay has created the most
challenging construction environment in years. Many contractors have
diversified into new markets, cut expenditures, laid off personnel and/or
reduced salaries and benefits.” The 2010 survey will be our most important
survey to-date. We will be sending out the survey participation link on January 25, 2010,
and we urge your
firm to complete the survey. Please
contact
us with any questions.
Somerset
is proud to be a sponsor and active member of the Indiana Subcontractors
Association. Our Construction & A/E Team will be exhibiting at their annual
"Construction Networking Event of the Year" on Thursday, February 25, 2010,
at the Indiana Convention Center. Please stop by and see us at Booth #57.
The event will begin with a luncheon featuring representatives from state
universities presenting their Master Plans. The trade show then opens and
the much anticipated Networking Pavilions begin. The afternoon will lead
into the GC of the Year reception and awards dinner.
Melissa Farmer is the
Trade Show Committee Chair and welcomes your inquiries about the event.
Also, please
visit
ISA's web site.
Somerset
Practical MBA Program--Attend in Person or Via Webinar. Our
popular MBA program is scheduled through 2011. The next session is on
Wednesday, January 27, 2010, when Valerie Brennan and Donna Butler will present "Recruiting
and Retaining Good People."
Click
here to see the full
schedule and program details.
In Other News - Somerset publishes a variety of newsletters in addition to Work-In-Process--such as Employee Benefit Plan Commentator, Wherewithal, Real Estate Focus, Tax Times (including recently published Tax Planning Letters for Individuals and Businesses) and several others. Please visit the Newsletters page of our web site to read the archives and sign up to have new issues delivered to your email inbox.
Tell
Us How We Are Doing and You May Win Pacers Tickets. If you are a Somerset client,
please take our Client Satisfaction Survey by
January 15, and you will be entered into a drawing for two tickets
to the Pacers vs. Philadelphia on Saturday, January 23.
Take
our
survey now.
We
are proud to be celebrating our 50th anniversary in 2010! Somerset’s roots
began in 1960 with the founding of Whipple & Company, a certified public
accounting firm.
Read
more...
Work-In-Process is provided by
Somerset for our clients and other interested persons upon request.
Since technical information is presented in generalized fashion, no
final conclusion on these topics should be made without further review.
For additional information on the issues discussed,
please contact
Ken
Hedlund,
Jay Feller,
Steve George,
Chris
Mayfield or
Rebecca Ogle
of our
Construction & A/E Team.
This document is not intended or written to be used, and cannot be used,
for the purpose of avoiding tax penalties that may be imposed on the
taxpayer.
Somerset CPAs,
P.C.
3925 River Crossing Parkway, Third Floor
Indianapolis, Indiana 46240
317.472.2200 • 800.469.7206 • FAX 317.208.1200
www.IndianaConstructionCPAs.com
info@somersetcpas.com
