construction financial management association chicago chapter

The chapter's Intern Program is exclusively for employers of CFMA General Members and provides them with support, recognition, and a financial incentive for employing a college student in an accounting or financial capacity in a construction environment during the summer months.

How it works:

In order to qualify, interns must be enrolled in an accredited college or university and majoring in accounting. 

Employers are solely responsible for recruiting, hiring and training the intern. CFMA will provide support via a mentor (intern committee member) that will be available to answer questions regarding recruiting the intern and CFMA will provide construction accounting training for your intern.  

Employers should determine their own interview and selection criteria, work duties, pay rate, and work schedule (a minimum of 250 hours required). Interns must be employed in an accounting or financial capacity in a construction environment during the summer months.

When selecting employer applications for this program, the committee will give preference to factors such as action plan, active CFMA general member participation, and duration of the intern experience. In order to assist us in our decision, please provide as much detail as possible regarding these areas. 

2022 Program Timeline:

March 18, 2022 – fully-completed application is due.  Application process has closed.

March 31, 2022 – employers will be notified of their acceptance into the program.

May 16, 2022 – employers need to advise CFMA of their intern’s name and start date.

June 2022 – Interns will receive a complimentary invitation to attend an online tailored course of CFMA’s to help orient them to construction finance topics.  We hope to have an intern social outing at the conclusion of this seminar! This program also includes a one year student membership to CFMA!

Mid-summer chapter social event – Depending on current guidelines, interns will receive a complimentary invitation to the chapter’s mid-summer social event. We encourage the employer to also send a representative to accompany the intern.

Mid-summer site visits – Depending on current guidelines, members of the CFMA Intern Committee will visit each employer to present a framed award, take pictures for purposes of posting on the CFMA Chicago website, and meet with the intern and others from the organization.

August/September 2022 – As the intern departs, both the intern and the employer will be required to provide CFMA with a letter of comments and suggestions regarding the program.  It will be the employer’s responsibility to ensure that the intern provides CFMA with this documentation.

CFMA Annual Golf Outing – Participating employers are recognized and checks are handed out (assuming all requirements were met by both the employer and the intern – see item above). The intern will be offered a complimentary invitation to the golf outing dinner.  Proceeds from the outing are used to fund the Accounting Intern Program.

Fall 2022– For any participating employers whose interns did not depart in time to receive their award at the golf outing they will receive their check at the fall chapter meeting.

Guidelines and Requirements:

 All of the requirements listed below must be fulfilled by the employer or their acceptance into the program may be subject to forfeiture.

1. Complete the application and return it to CFMA by March 19, 2021, to be considered for the CFMA Accounting Intern Program.
2. As part of the application, submit an action plan for the employer’s intern program. This plan includes information about the employer as well as details about the intern’s job such as location, supervision, hours (minimum of 250 hours), time frame, and proposed pay rate. All of these requirements are built into the application.
3. Provide a detailed job description (duties) for the intern. Interns must be employed in an accounting or financial capacity in a construction environment during the summer months. We encourage employers to give the interns as much exposure to the construction industry as possible, therefore examples of some duties include:
   1. Working with Corporate and General Accounting (A/P, A/R, quarterly closings, payroll, and budgeting)
   2. Working with Project Accounting and preparing job schedules
   3. Assisting with contract billings
   4. Visiting job sites and assisting with bidding
   5. Working with financial reporting
4. Provide CFMA with the intern’s name and start date no later than May 15, 2021.
5. Provide CFMA with written comments and suggestions (from both the employer and the intern) at the end of the internship. These comments and suggestions will be used for marketing purposes and to strengthen the program in the future.

What the Interns are Saying:

"I improved my team working and communications skills."

 "I was blown away by all the things I experienced and was able to accomplish." 

"One of the most productive summers of my life."  

"Allowed me to apply concepts I learned in the classroom to real working conditions."  

"The best part of my internship experience is the fact that I was able to learn by doing."