CDABP TRAININGS
The cash flow projection was explained as the basis for determining what a contractor ’ s existing cash resources are , the cash required to carry out a project , and how much of a CFAP loan one may need to adequately cash flow the work . The cash flow projection also covers the contractor ’ s projected income on the project and ending cash position .
The goal of the presentation from financial statement reporting through work-in-progress to cash flow projection was to help small construction contractors and construction-related professional services companies understand the importance of knowing just what their financial position is at the point of starting a project / pre-construction , during the course of construction , and at post construction -- and to have the information they need to manage a project to successful completion .
The first session drew 15 attendees , while 36 people attended the second session . The workshop was structured to allow time for one-on-one engagement . The presenters reviewed the high points covered in day 1 as day 2 kicked off , and drilled down to the “ nuts and bolts ” of CFAP on day 2 .
“ These workshops , and the ongoing technical assistance series of classes LA Metro and MWIS presents , give LA Metro and the MWIS team not only the opportunity to focus on SBE enterprise risk but to do it in such a way to address the financial , operational , and strategic market challenges that contractors face . I would encourage all those that receive our fliers and invitations to these programs to make their best effort to attend and please take advantage of the time to ask questions .”
Small business enterprise – John Miller , MWIS CFAP Project Manager and
( SBE ), disadvantaged business
Underwriter enterprise ( DBE ), and disabled veteran business enterprise ( DVBE ) contractors and construction-related professional services company gained valuable information about this innovative “ contract based ” access to capital program . The goal of the workshop was to better equip participants to grow their businesses , increase their capacity , and allow them to take full advantage of public works opportunities , not just with
SPRING 2024 LA CONTRACTOR CONNECTION - 29