Managing Cash Flows

Financial managers are responsible for managing the cash flows for the company. Many profitable companies fail because they simply run out of cash and are unable to pay their bills. The duties of a financial manager include the following:

■ Matching the use of in-house labor and subcontractors to the cash available for use on a project.
■ Ensuring that the company has sufficient cash to take on an additional project.
■ Preparing an income tax projection for the company.
■ Preparing and updating annual cash flow projections for the company.
■ Arranging for financing to cover the needs of the construction company.