GGInsights: Q&A with Chief Financial Officer – Kevin Dorman, C.P.A.

Kevin Dorman joined Gillis Gilkerson as Controller in February 2019.  Kevin was named Chief Financial Officer and a partner in the business in January 2024. His responsibilities include preparing and monitoring budgets and financial reporting, tax planning, and overseeing the policies and procedures relating to the financial and business practices of Gillis Gilkerson.

Kevin brings with him a background in public accounting where he specialized in financial and tax planning in the areas of construction and real estate development. After graduating from Salisbury University in 2013 with a Bachelor of Science in accounting, Kevin became licensed as a CPA and is a member of both the American Institute of Certified Public Accountants and the Maryland Association of Certified Public Accountants.

We wanted to highlight Kevin, and his time with Gillis Gilkerson so far.  Kevin was a good sport and participated in a light-hearted Q&A.

Q&A Questions:

In a nutshell, how would you describe your role as Chief Financial Officer? 

As Chief Financial Officer, it is my responsibility to ensure that the company’s day-to-day financial operations are taken care of and running smoothly.  Staying on top of construction industry trends is also critical to my role, to ensure we remain competitive.  This can cover a wide-range of implications – from staying informed about supply chain and material cost fluctuations to adopting productivity-boosting technologies – anything that enables our firm to mitigate risks of project delays and budget overruns.  I have my eye on the bottom line – at all time.

Were you familiar with Gillis Gilkerson or the construction industry prior to joining the team?

I gained my experience in construction and real estate tax planning during my time in public accounting.  Prior to joining the team, I worked as a C.P.A with the local accounting firm PKS and Company, where Gillis Gilkerson was one of my main clients. So, I was very familiar with the company, its leadership, and the variety of projects and financial strategies involved with the type of work they do – both on the construction side and the real estate development side. 

Being so familiar with Gillis Gilkerson made my transition to a full-time, in-house role very smooth, even if type of work I was doing did evolve a bit.  Being in-house has allowed me to become more dialed into the day-to-day operations, applying my skills to proactively forecast financial results, as opposed to after the fact tax and financial statement preparation.  Having someone laser focused on the business 100% of the time is a major advantage.

Are there any aspects of the construction industry that make your day-to-day unique to other CFOs or Accountants?

Without getting too technical, the most significant difference with the construction industry is how we recognize revenue.  Work in Progress (WIP) reports and WIP Accounting protocols are unique to the industry.  Generating WIP reports are useful beyond accurate revenue reporting – they allow me to monitor project health, manage cash flow and get ahead of project overruns before they become major issues.  WIP reports are financial snapshots used by contractors to track the costs, revenues and profitability of active projects in real time – tracking the percentage of completion to ensure that budgets are maintained, billings are accurate and the project’s profitability is on track. 

How are your skills useful to the team? 

Everything I do – whether it’s on the construction side or the development side – is kind of like a puzzle and it’s my job to make sure all the puzzle pieces fall into place.  On the construction side, it’s producing things like cash flow forecasts, job forecasts, and throwing up a flag if a particular job seems to be heading off track. There is a lot of daily churn on the construction side, and I’m here to make sure all those details are captured, analyzed and balanced. On the development side, there is less emphasis on up-to-the-minute tracking and more emphasis on tax strategy and tax planning.  Two different puzzles, and both are a lot of fun – in my opinion.

What does becoming a partner in the company mean to you.  Has it changed how you approach your role?

Becoming a partner hasn’t changed my approach to the job, but it has shifted my perspective.  As part of the leadership and ownership team, I am responsible for the future of the people that work here.  I can feel the weight of that responsibility – it’s not a bad thing – but it is something that stays in my mind.  I ask myself, are we building a company, and a work environment, where the people we employ are happy and fulfilled?  Our employees’ livelihoods depend on the success of the company.  I am grateful to the leadership team we have here, and my fellow partner.   I know each of them care just as deeply about our team and our future success.

What is the most rewarding part of your job? 

I might not be answering this question correctly, but to me the most rewarding part of this job is the way I feel coming into work every day.  Every day, I get to walk into a place I truly enjoy working, surrounded by people I truly enjoy working with – which is so valuable to me.  If I am going to have to spend time away from my family, at least I get to do it here. 

What advice would you give to someone starting a career in Accounting? 

My advice to someone who is starting their Accounting career would be twofold.  First, get your C.P.A. license – it is definitely worth doing.   Second, I would recommend starting your career in public accounting.   A public accounting firm is a great place to get your roots because of the variety of industries and accounting functions you will be exposed to. You will learn so much, so fast – and that will help you find what you truly enjoy doing. 

Outside of work, what are some of your hobbies or interests? How do you unwind and recharge? 

Unwind?  My wife and I have two beautiful young girls who are full of energy and are always on the move – they keep me active and I wouldn’t have it any other way!   They’ve got me coaching tee-ball, selling girl scout cookies, the list goes on and on.  Our family does love to vacation together, and we do a fair amount of traveling.  And I love playing golf!  Did I mention golf?