BOARD OF TRUSTEES MEETING April 14, 2014 11:00 AM – …...Apr 08, 2019 · May 19 Seattle District Golf Tournament, Bear Creek Country Club June 6 Board of Trustees Retreat, 8:30

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BOARD OF TRUSTEES MEETING April 14, 2014

11:00 AM – 1:30 PM Seattle, Washington

AGC Conference Center, 2nd floor

PURPOSE OF MEETING: To conduct the business affairs and establish policies of the association. DESIRED OUTCOMES:

Knowledge of key association activities. Understanding 2013 financial audit. Consensus on action items

AGENDA CALL TO ORDER – President Joe Simmons TAB

CONSENT AGENDA (2 min.)

1. Approval of February summary minutes 1 2. Approval of March and April Membership reports 2

WRITTEN REPORTS (3 min.) 1. District Reports: Central, Northern, Seattle, Southern 3 2. Department Report: Communications 4

ORAL REPORTS 1. President Joe Simmons (5 min.)

a. AGCA National Convention recap b. June 6 Board Retreat, 8:30 AM – 3:30 PM, AGC Conference Center c. AGC of America - Staff Years of Service recognition:

Controller Kelly Barber, 10 yrs. Staff Accountant Valerie Matt, 5 yrs.

2. Executive Vice President David D’Hondt (5 min.) a. AGC of America update

3. CWU/AGCWA Endowment update – (20 min.) Dr. William Bender & Michoan Spoelstra, CWU, Dept. of Constr. Mgmt.

INTERACTIVE DISCUSSION/ACTION 1. Approval of February Financial Statements – Kelly Barber (10 min.) 5 2. Results of 2013 AGC Audit Report – Kelly Barber (10 min.) 6

(12 Noon – lunch) (20 min.) 3. WSU grant request – Dave D’Hondt (15 min.) 7 4. GAC legislative update – Van Collins (10 min.) 5. State Facilities presentation / orientation – Van Collins (10 min.)

NEW BUSINESS (5 min.)

1. Announcements: Apr. 15 Seattle District Membership Mtg., 7:30 AM, Harborside May 7 Southern District Membership Mtg., 5 PM, Fircrest May 19 Seattle District Golf Tournament, Bear Creek Country Club June 6 Board of Trustees Retreat, 8:30 – 3:30 PM, AGC Conference Center

1:30 PM – ADJOURN

Tab One

SUMMARY MINUTES AGC OF WASHINGTON BOARD OF TRUSTEES MEETING FEBRUARY 10, 2014

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BOARD MEMBERS PRESENT Joe Simmons Joseph S. Simmons Construction, Inc. Butch Brooks Brooks Construction Management Paul Cressman Ahlers & Cressman, PLLC Ken Day Ness & Campbell Crane, Inc. Jake Jacobson Osborne Construction Company John Korsmo Korsmo Construction, Inc. Todd Kunzman Andgar Corporation Brent Levander Centennial Contractors Enterprises Annie Lombroia Ashbaugh Beal Nancy Munro MidMountain Contractors, Inc. John Parker UNIMARK Construction Group LLC J. Schaufelberger UW College of Built Environments Glyn Slattery Lydig Construction, Inc. Gary Smith Lease Crutcher Lewis WA, LLC Sharon Young Concord Construction, Inc. BOARD MEMBERS ABSENT Delton Bonds Mountain States Const.Co Mark Seaman J.R. Abbott Construction Inc. Brian Westerlund Veca Electric & Technologies

STAFF/GUESTS PRESENT Bob Marconi Ashbaugh Beal Aaron Thomson Ashbaugh Beal David D’Hondt AGC of Washington Tim Attebery AGC of Washington Kelly Barber AGC of Washington Richard Bristow AGC of Washington Jerry Dinndorf AGC of Washington Liz Evans AGC of Washington Greg Crisostomo AGC of Washington Randy Guzman AGC of Washington Paula Jackson AGC of Washington Mandi Kime AGC of Washington Diane Kocer AGC of WA Ed. Foundation Lauren Gubbe AGC Group Retro Stacy Mullane AGC of Washington Doug Peterson AGC of Washington Chuck Quick AGC of Washington Dani Tijan AGC of Washington Jerry VanderWood AGC of Washington

CALL TO ORDER President Joe Simmons called the meeting to order at 11:05 a.m. BOARD ORIENTATION Bob Marconi and Aaron Thomson with Ashbaugh Beal spoke to the Board about statutory and fiduciary responsibilities as trustees of the Association. They stressed what a great organization AGCWA is with its committed leadership and great staff. Marconi encouraged trustees to attend meetings, become familiar with governing documents (bylaws, policies of the Board), be punctual, come prepared, ask questions, stay informed, debate issues, and “serve in good faith, in a manner such trustee believes to be in the best interest of the corporation, and with such care, including reasonable inquiry, as an ordinarily prudent person in like position would use under similar circumstances,” -- pursuant to RCW.24.03.127 (Duties of a Director of a Nonprofit Corporation). It should be noted that, per Chapter Bylaws, Board members are indemnified to the fullest extent of the law. Board members were requested to read, sign, and turn in the “Responsibilities of the Board of Trustees Pledge” and “Conflict of Interest” forms. Board of Trustees & Staff Self-Introductions – Board members and staff introduced themselves. CONSENT AGENDA Action: It was moved (Day), seconded (Brooks), and carried to accept the December summary minutes and, the February 10 Membership report, as follows: The following candidates have been screened and meet the proper classification requirements: NEW MEMBERS ASSOCIATE Northern District Andrews & Associates Construction Consulting Services, LLP, Blaine, WA 98230 Seattle District Industrial Bolt & Supply, Inc., Auburn, WA 98001 K-Solutions Law , Bellevue, WA 98005 Pro-Vigil, Inc, San Antonio TX 78217 Stuart Silk Architects, Seattle, WA 98103 Team Tube LLC, Kent, WA 98032 Teknotherm, Inc., Seattle, WA 98107


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Southern District Dwyer Pemberton & Coulson, P.C., Tacoma, WA 98421 Jesse Engineering Co., Tacoma, WA 98422 Sadlier Enterprises, Inc. dba Johnstone Supply, Tacoma, WA 98402 Tacoma Diesel & Equipment Inc., Fife, WA 98424 GENERAL CONTRACTOR Southern District Edge West LLC, Port Orchard, WA 98366 INTRODUCTORY GENERAL CONTRACTOR Seattle District Carlisle Classic Homes, Seattle, WA 98103 Green Canopy Homes, Seattle, WA 98108 LZL Construction, Inc., Bothell, WA 98011 Southern District Vet Industrial, Inc., Bremerton, WA 98312 INTRODUCTORY RETRO GENERAL CONTRACTOR Seattle District Clannadh, Redmond, WA 98053 Southern District Adolfson & Peterson Construction, Tacoma, WA 98424 INTRODUCTORY SUBCONTRACTOR Seattle District Sno Valley Process Solutions, Everett, WA 98201 Southern District Ballard Marine Construction, Washougal, WA 98671 Precision Electric of WA, Vancouver, WA 98665 Western Partitions, Inc., Sumner, WA 98390 SUBCONTRACTOR Central District TD Excavating LLC, North Bend, WA 98045 Seattle District Associated Underwater Services, Kenmore, WA 98028 Mode Construction, Seattle, WA 98109 Slabjack NW LLC, Issaquah, WA 98027 NAME CHANGE: Canam Steel is now known as SunSteel, LLC

President Simmons and Executive Vice President Dave D’Hondt gave major credit to AGC’s United Healthcare Plan for the recent influx of new members. WRITTEN REPORTS The following written reports were made available to the Board: district reports by the Central, Northern, Seattle and Southern districts; and, the Property Committee report (copies attached to original meeting summary). First Vice President Gary Smith reported that the piling project is underway and should be completed within 3-4 weeks. It was also reported that building occupancy is at 96%.

ORAL REPORTS President’s Report – President Simmons re-introduced First Vice President Gary Smith, who reported on the recent Western Chapters Meeting in La Quinta, CA. Smith noted that it was a very worthwhile meeting, attended by representatives from most of the western chapters. AGCWA was the host chapter and was represented by Simmons, Smith, D’Hondt, and Tijan. Per Smith and Simmons, agenda topics, in addition to individual chapter updates, included a presentation by President/CEO Lane Beattie with the Salt Lake Chamber on “How to Make Politics Happen in Real Life,” a “2013 Year-in-Review” by AGC of America President Paul Diederich, a “2014 Look Ahead” by AGC of America Senior Vice President, Alan


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Landes, an AGC of America update by CEO Steve Sandherr; and, a presentation by FMI Senior Consultant Rusty Sherwood on “Strategic Leadership.”

Simmons remarked that the AGC of Washington has first-rate staff; however, members need to remember that we are an association that is “member driven” not “staff driven.” He encouraged member involvement within the association. Simmons stressed that “the association is about the members, not the fine staff.”

Smith reported that it was a great opportunity to meet our counterparts from the different western states. He also noted that while AGCWA has been rather fortunate through the economic downturn, other chapters have not been so lucky; some have had to merge with other organizations. D’Hondt and Tijan were commended for putting together a great event for the group.

Staff Years’ of Service Recognition – Property Manager Paula Jackson was recognized for her 15 years’ service to AGC of America and AGC of Washington. It was noted that Paula has worked a total of 23 years with the AGC of Washington, which includes work with a previous out-of-house property manager. Executive Vice President’s Report – Executive Vice President David D’Hondt welcomed everyone. He reported that last October, prior to the Western Chapters’ meeting, the Western Chapter Execs met at the AGC of Washington for their planning session. D’Hondt reviewed some of the chapter profiles from the Western Chapters Mtg. to show the differences that exist between chapters (if you would like to review the various chapter profiles from the Western Chapters’ meeting, go to: www.agcwesternchapters.com; password: 2014ChapterExecs; click on “2014 Meeting”; click on “2014 Meeting Materials” to access the Chapter Profiles).

Per D’Hondt, also included in these materials is a PAC survey, which was completed by12 chapters; it will be used for benchmarking purposes. He thanked Dani Tijan for her efforts in making this a successful event. Other comments:

AGC Building is 96% occupied; there is a deal pending, which could leave 800 sq. ft. $271k for our 2014 charter fee has been paid in full to AGC of America. He thanked staff for their hard work in servicing our members during his 5-1/2 years as Executive

Vice President at AGCWA. AGC Education Foundation – Executive Director for the AGC Education Foundation (6 yrs.), Diane Kocer, greeted the Board and gave a brief overview of the Foundation. Kocer noted that the Foundation continues to operate as a seamless arm of the AGC of Washington, offering a multitude of industry classes (including custom classes), webinars, student scholarships, and grants, and involvement in workforce development, i.e. King County Construction Career Days, Ready Set Build, partnering with Seattle Public Schools in various teacher/student programs, etc. Kocer thanked the Board for AGCWA’s financial support to the Foundation; it currently has a $3.5M endowment fund. D’Hondt thanked Kocer for her efforts. It was noted that the Foundation has created a video of its activities, which was shown at a previous Board meeting; anyone wishing a copy should contact Kocer at [email protected].

Controller’s Financial Report – Controller Kelly Barber reviewed the financials for the month ended December 31, 2013. Overall, he stated that it was a great year for AGCWA.

INTERACTIVE DISCUSSION/ACTION

Strategic Plan Review - D’Hondt reviewed with the Board AGCWA’s updated BHAG’s (Big, Hairy, Audacious, Goals); he noted that each has been pared down to remove goals that have become institutionalized; as an example, former BHAG 3, Develop Property to Highest and Best Use with 95% Occupancy, has been removed. He noted that the Strategic Plan is a living document; as goals become institutionalized or achieved, they will be removed. D’Hondt stated that we have made great progress with our Strategic Plan.


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AGC OF WASHINGTON STRATEGIC PLAN, BHAG 1 BHAG 1: Increase membership of General Contractors to 220 members by 2020; double associate membership. Membership numbers as of August, 2013: GC (169) SUB (151) ASSOC (207) Membership numbers as of December 31st 2013 GC (172) SUB (155) ASSOC (217) (Champions: Butch Brooks, Dick Bristow, Stacy Mullane) Timeframe

2013 2014 2015 2016 2017 SMART GOAL 1: Increase membership recruitment & retention Objective I: Use McGraw Hill Analytics to establish market share for each district and target new members. Oct April

Timeframe: 3 mos. April 2014 Responsible: Director of Membership, District Managers (Membership Coordinator) Objective II: Adjust District Managers’ boundaries for recruiting. Timeframe: 3 mos. April 2014 Responsible: David D’Hondt, Dick Bristow

Oct

April

SMART GOAL 2: Increase membership services Objective I: Enhance industry knowledge of Safety Team© (ST) as premier and utilize the success of that program to open contracting opportunities for members. Timeframe: 10 mos. Update (5/11): Printed marketing materials (bifold and trifold) have been developed. An ad has been placed in the 2011 membership directory informing members of the benefits of Safety Team and resources available. Update (3/12): Action steps developed to meet objective: work with GC’s to use ST as prequalification criteria, create better awareness within membership/staff on the benefits of ST, survey the membership ST contractors and non-ST contractors, create banners that have space for GC to list all ST certified contractors onsite, publicize our internal statistical graphs and comparison charts to show exemplary results that ST contractors have achieved, approach the following companies: major insurance agencies requesting endorsement for ST contractors, L&I to request premium discount, and large owners (Vulcan, etc.) about using ST criteria in the pre-qualification process. Responsible: David D’Hondt / Mandi Kime / Safety Comm.

Dec

SMART GOAL 3: Create overarching marketing plan for membership recruitment

Objective I: Hire Marketing Manager Timeframe: Sept 2013 Sept Responsible: David D’Hondt Objective II: Create a plan that includes staff incentives for membership growth and member-to-member recruitment. Timeframe: Jan. 2014 Responsible: Marketing Manager/ Jerry Vanderwood

Jan April


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SMART GOAL 4: Collaborate with the Education Foundation at a higher level

Objective I: Hold one or two joint executive meetings per year Timeframe: Oct 2013 Responsible: David D’Hondt Objective II: Create joint budgeting meeting for both organizations. Timeframe: 2014 Budget cycles Responsible: David D’Hondt Objective III: Education Foundation to make presentation to the AGC Board of Trustees on class offerings. Timeframe: Dec 2013 Responsible: David D’Hondt

Oct Dec.

May

Gray highlight indicates updated information. Yellow highlight indicates past updated information. Blue highlight indicates objective completed.

AGC OF WASHINGTON STRATEGIC PLAN, BHAG 2

BHAG 2: To help elect a pro-business majority in the WA State Legislature by 2020.

Timeframe

Champions: David D'Hondt, Jake Jacobson 2013 2014 2015 2016 2017

SMART GOAL 1: Increase member participation

Objective I: Increase member and legislative personal contact through L.E.A.R.N. Program to establish long-term relationships. (Target 10 additional visits with legislators per year.) Timeframe: 5 yrs. (Begin 2014) Ongoing activity with December updates. Responsible: Van Collins/ Jerry Vanderwood & District Managers Infrastructure is in place with the District Managers to start after session this year. Objective II: Increase Voter Voice contacts in both quantity and quality through member visits. Timeframe: 1 yr. Responsible: Michele Willms / District Managers Objective III: Present Legislator of the Year Award at a Board meeting. Timeframe: 2013 Responsible: Van Collins Hans Zeiger received at Annual Meeting

Dec

Dec Sept. Jan.

Dec

Dec

Dec

Gray highlight indicates updated information. Yellow highlight indicates previously updated information.


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Blue highlight indicates objective completed. AGC OF WASHINGTON STRATEGIC PLAN, BHAG 3

BHAG 3: Create an industry leading IT program for members and staff that utilizes leading technologies and eases interface.

Timeframe

Champions: Mark Seaman, Kelly Barber 2013 2014 2015 2016 2017

SMART GOAL 1: Define the options Objective I: Research and recommend state-of-the-art database / website / mobile options. Timeframe: December 2013 Responsible: Kelly Barber / David D’Hondt Objective II: Research and recommend webinar platform for AGC use. Timeframe: June 2014 Responsible: Kelly Barber / David D’Hondt SMART GOAL 2: Purchase and install new database Objective I: RFP for systems Timeframe: March 2014 Responsible: Kelly Barber/ David D’Hondt Objective II: Installation of new database Timeframe: August 2014 Responsible: Kelly Barber/ David D’Hondt

Dec

June

March Aug.

Gray highlight indicates updated information. Yellow highlight indicates previously updated information. Blue highlight indicates objective completed. 1/29/2014

GAC Legislative Update – Chief Lobbyist and General Counsel Van Collins gave an updated government affairs and legal affairs report, which included:

Recognition of the invaluable service of the Legal Affairs Counsel, that includes members Paul Cressman and Bob Marconi); they are currently working on a couple of Amicus Briefs;

Recognition of the legislative staff: Office Manager Michele Willms, Lobbyists Jerry VanderWood and Duke Schaub;

Economic Impact Study prepared by the Construction Management Dept. at U.W.; it reflects what construction means to the economy;

Transportation Package – Duke Schaub is leading this effort; Lobby Day is scheduled for Thursday, Feb. 13; Monday Legislative Huddle, 7:30 AM – encouraged participation by Board members; LEARN – planning to take legislators on public works job sites; Legislative voting records – accumulating past voting records to gather information on incoming candidates; Public Works Trust Fund – VanderWood is the key AGCWA staff working on these issues; D’Hondt commended Collins for the wonderful job he has done leading the legislative staff since the

departure of Rick Slunaker. D’Hondt reported that he and Collins had several meetings with various senators during the “off” sessions; they included: Senator Holmquist-Newbry in Moses Lake, Senator Schoesler in Ritzville; and, Senator Honeyford in Sunnyspot. D’Hondt stated that these meetings were constructive and plans to continue them in the future.


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Safety Department Presentation – Director of Safety Mandi Kime gave an overview of AGCWA safety services, which included:

AGC Safety Team® (prerequisite to applying for and hopefully joining Group Retro) Safety Forums (held in Fife, Kitsap, Yakima, Wentachee, Seattle, and Bellingham) Health & Safety Resource Library (English and Spanish) Health & Safety Training (OSHA ten-hour; hearing conservation, soft tissue injury prevention, tunnel safety,

and customized training) Safety Audits Consultation Crisis-Management Assistance Products Equipment (free noise monitoring and dust sampling equipment loaners and consultations)

AGC Group Retro Presentation – Director of Group Retro Lauren Gubbe gave an overview of the AGC Group Retro program, which included:

Quarterly meetings with the Dept. of L&I; Van Hardy, Group Retro Chair; former treasurer for the AGCWA and current honorary member; Main reason many companies join AGCWA is for the opportunity to join Group Retro; 99% of members have come from competing plans; Group Retro retains 100% of eligible firms; Up to 5% refund split between 2 chapters (AGCWA & Inland NW); 88% years overall experience on the Retro Committee; Staff includes a former para legal as well as a self-insured certified employee; $162M refunds given back to date; those in the plan are the only ones paying for the plan; Old plan – the penalty risk used to be simple; target refund changes every year; plan continues to be the top

performer. AGC of Washington BUILD-PAC – VanderWood reported that AGCWA BUILD-PAC raised a total of $43,230, to date, for 2014 from the recent dessert dash ($25,075) at the AGCWA Convention and through membership dues check-off. He thanked Brooks, Simmons, and Jacobson for their fundraising efforts prior to the dues billing mailing.

Announcements Feb. 13 Lobby Day, Olympia Feb. 18 Seattle District Membership Breakfast, 7:30 AM March 5 Southern District Membership Dinner, 5 PM, Fircrest March 18 Seattle District Membership Breakfast, 7:30 AM April 2 Southern District Membership Dinner, 5 PM, Fircrest April 14 Board of Trustees Mtg., 11 AM – 1:30 PM, AGC Conference Center The meeting was adjourned at 1:35 PM. President Simmons then held a brief Executive Session with Board Members.

______________________________________________________________________ Gary Smith, First Vice President Date

Tab Two

MEMORANDUM

Date: March 11, 2014 To: AGC Officers From: Stacy Mullane, Member Services Coordinator Re: Membership Report (Officers approved 3/14/14) The following candidates have been screened and meet the proper classification requirements: NEW MEMBERS ASSOCIATE Central District ShirAul, LLC Mr. Kenneth Lutz 410 Factory Rd., Sunnyside, WA 98944 Phone: 509.837.6230 Fax: 509.837.6240 Email: [email protected] Specialty: Manufacturer of Belly Dump trailers. Northern District Belcher Swanson Law Firm, PLLC Mr. Colm Nelson 900 Dupont St, Bellingham, WA Phone: 360.734.6390 Fax: 360.671.0753 Email:[email protected] Specialty: Construction development and Business law. Seattle District All Star Rent A Fence Mr. Bill Bingham 5100 – 180th Way SW, Rochester, WA 98579 Phone: 360.704.8959 Fax: 253.884.4997 Email: [email protected] Specialty: Providing quality temp fence rental for your construction projects. QCC Quality Controls Corporation Mr. James Cross 5015 – 208th St., Ste. 1B, Lynnwood, WA 98036 Phone: 425.778.8280 Fax: 425.778.4541 Email: [email protected] Specialty: Industrial ControlSystems Integration- Control System Design, UL-508A panel fabrication, and instrumentation services. JPMorgan Chase & Co.

Mr. Dan Birmingham 1301 – 2nd Ave., 24th Floor, Seattle, WA 98101 Phone: 206.500.1382 Fax: 206.377.3017 Email: [email protected] Specialty: J.P. Morgan Chase is a global financial services firm and a leader in asset management, private banking, commercial banking, investment banking, treasury and securities services. Mountain Medic CPR Ms. Jeanne Hanson 5714 – 134th Pl. SE, Ste. A18-109, Everett, WA 98208 Phone: 425.971.1084 Fax: 360.863.8869 Email: [email protected] Specialty: ONSITE first Aid/CPR training. Professional instruction provided 24/7 at jobsites throughout Western WA since 1998. AED sales, program design and implementation. Southern District Northwest Steel & Pipe Inc Ms. Tammy Hulburt 4802 S Proctor St., Tacoma, WA 98409 Phone: 253.473.8888 Fax: 253.473.5637 Email: [email protected] Specialty: Steel distribution. GENERAL CONTRACTOR Seattle District Comren, Inc. Mr. Bill Amstutz 9438 Irondale Ave., Chatsworth, CA 94311 Phone: 818.718.7500 Fax: 818.718.7510 Email: [email protected] Specialty: Hotel renovations and tenant improvements. INTRODUCTORY SUBCONTRACTOR Seattle District Prime Electric, Inc Mr. Dave Stolecki 13301 SE 26th St., Bellevue, WA 98005 Phone: 425.747.5200 Fax: 425.747.5552 Email: [email protected] Specialty: PRIME is a premier commercial electrical contractor, serving the Northwest for over 25 years. Southern District Franklin Roofing Enterprises, Inc. Ms. Jenny Franklin 14910 Canyon Rd. E, Puyallup, WA 98375 Phone: 253.770.5950 Fax: 253.539.3460 Email: [email protected] Specialty: Commercial roofing and residential roofing including single-ply, torch-down and composition roofing. Architectural sheet metal roofing and siding. T. Barger Dirtworks, LLC Ms. Flo Keenan

28312 – 134th St. E, Buckley, WA 98321 Phone: 253.447.8600 Fax: 253.447.8600 Email: [email protected] Specialty: Excavating. SUBCONTRACTOR Seattle District Stansell Glass Inc Mr. Dan Stansell 3040 “B” St. NW, Ste. 11, Auburn, WA 98001 Phone: 253.804.6377 Fax: 253.804.0311 Email: [email protected] Specialty: Commercial/Residential glazing contractor. MEMBERSHIP CATEGORY CHANGE Mode Construction – was approved for a Subcontractor membership on the February Membership report, has decided to change their membership General Contractor. NAME CHANGE LA Structures Northwest, LLC is now known as LA Interiors Northwest, LLC M Campbell & Company Inc. is now known as Campbell & Company Inc. Snyder Roofing, Inc. is now known as Snyder

MEMORANDUM

Date: April 14, 2014 To: AGC Board of Trustees From: Stacy Mullane, Member Services Coordinator Re: Membership Report The following candidates have been screened and meet the proper classification requirements: NEW MEMBERS ASSOCIATE Seattle District Swerve Fleet Training Mr. Bob Prosser 45 Front St., Issaquah, WA 98027 Phone: 732.850.3330 Fax: 425.977.0294 Email: [email protected] Specialty: Full-service driver training designed for the specific needs of each customer with the goal of reducing all vehicle related incidents. TransWest Mr. Jeremy Burdett 1370 Stewart St., Seattle, WA 98109 Phone: 206.607.8851 Fax: 206.512.8174 Email: [email protected] Specialty: Off-site parking and transportation. Southern District Premier Rentals, LLC Mr. Tim Mears 2618 SE Mile Hill, Port Orchard, WA 98366 Phone: 360.876.4400 Fax: 360.895.1805 Email: [email protected] Specialty: Equipment rentals and sales. INTRODUCTORY RETRO GENERAL CONTRACTOR Southern District JR Hayes Corporation Mr. Dan Hayes 22430 SE 231st St., Maple Valley, WA 98038 Phone: 425.392.5722 Fax: 425.392.9902 Email: [email protected] Specialty: Site preparation including demolition, earthwork, utilities for residential development. SUBCONTRACTOR

Southern District Secoma Fence, Inc. Mr. Nathan Hagberg 7720 Pacific Hwy E, Milton, WA 98354 Phone: 253.926.8600 Fax: 253.926.3007 Email: [email protected] Specialty: Fence installation and retail parts. MERGER Gallina purchased Tueffers, Guckian, & Gamon. They are all now called “Gallina LLP.” HUB purchased Unity Group and Argus Insurance. They are all now “HUB International Northwest.” NOT RENEWING MEMBERSHIP Associates Argus Insurance, Inc. – Central - Company purchased by HUB International Solbakken Company – Central- This "company is dormant." Art has moved to So. Cal. The Unity Group Insurance & Employee Benefits – Northern - Company purchased by HUB International Ahern Rentals – Seattle - Membership didn't produce enough business B+T Group – Seattle - No longer representing client Ball Janik LLP – Seattle - Seattle office has closed CLP Resources Inc – Seattle - No reason given GeoRadar Imaging – Seattle - No longer participating in Health plan. Doesn't use our services H.D. Fowler Company – Seattle - No reason given Haulaway Storage Containers, Inc. - Seattle - No reason given Puget Sound Refrigeration, Inc – Seattle - Doesn't use our services Redmond Welders & Fabricators, Inc. – Seattle - Company has refocused marketing efforts Tetra Tech, Inc. – Seattle - No one available to participate Xylem Dewatering Solutions (aka Godwin Pumps) - Seattle - No reason given General Contractors Chad Fisher Construction – Northern - Need to focus on growing business, will return in future Trails Landcare – Seattle - Cost outweighs benefits used White Residential, Inc. – Seattle - No longer has a presence in WA State Wildish Standard Paving Co. – Seattle - Not able to participate in Retro, premiums too low American Pump & Electric, Inc. – Southern - No reason given Kevcon, Inc. – Southern - No reason given Subcontractors Wray Plumbing Inc. – Central - Not able to participate in Retro, premiums too low Anderson's Door Co. Inc. – Seattle - Left the AGC Health Plan and decided not to renew ESC Automation – Seattle - Focusing marketing efforts on the Mechanical Contractor side of business Sea-Tac Electric, Inc. – Seattle - No longer met underwriting requirements Sequoyah Electric, LLC – Seattle - No reason given Campbell-Cox Floor Covering, Inc. – Southern - Closed Business D. Zelinsky & Sons Inc. – Southern - No longer performing work in WA State. Retro AAA Ready Mix, Inc. II - Inland NW- No longer met underwriting requirements D.R. Construction Services LLC - Inland NW - No longer met underwriting requirements Dempsey Masonry - Inland NW - No longer met underwriting requirements Wesslen Construction, Inc. - Inland NW - No longer met underwriting requirements

The following are member companies who have not yet paid their 2014 dues. They will remain members until April 15th; following that date, per the bylaws, they become members not in good standing and should be expelled from membership. ASSOCIATES Winston & Cashatt – Central Materials Testing & Consulting, Inc. – Northern Armtec Limited Partnership – Seattle Barokas Martin & Tomlinso – Seattle BDO USA, LLP – Seattle CleanScapes, Inc. – Seattle CliftonLarsonAllen LLP – Seattle CAN – Seattle Foss Marine Holdings – Seattle Hilti – Seattle

Mine Safety Appliances – Seattle Networkfleet – Seattle USTravel – Seattle Washington State Conference of Mason Contractors –Seattle Waste Management, Inc. – Seattle Best Parking Lot Cleaning Inc – Southern Harsco Infrastructure Americas – Southern Parker Paint / The Comex Group – Southern Taylor Trucking LLC – Southern

GENERAL CONTRACTORS Balfour Beatty Infrastructure, Inc. – Southern Lehner Construction, Inc. – Southern SUBCONTRACTORS Canam Steel Corporation (SunSteel LLC) – Central Architectural Millwork Installation – Seattle Demolition Man, Inc. – Seattle High Tech Pacific Builders – Seattle

Stacy Mullane 4/1/2014

2013 2014 2015 2016 2017Associate 217 235GC 172 181Subcontractor 155 166Young Constructor 3 3Total 547 585

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AGC Membership 5 Year Analysis By Type

Prepared by Stacy Mullane 4/1/2014 Page 1

Gain/Loss %Dec-13 January February March April May June July August September October November December YTD from Dec #'s

Northern DistrictNet Generals 16 16 16 16 0 100.0%Net Subs 20 20 20 20 0 100.0%Net Assoc 13 13 14 15 2 115.4%Net Young Constructor 0 0 0 0 0 0.0%TOTAL 49 49 50 51 2 104.1%

Southern DistrictNet Generals 53 53 56 56 3 105.7%Net Subs 39 39 42 44 5 112.8%Net Assoc 47 47 51 52 5 110.6%Net Educ 1 1 1 1 0 100.0%Net Young Constructor 2 2 2 2 0 100.0%TOTAL 142 142 152 155 13 109.2%

Central DistrictNet General 21 21 21 21 0 100.0%Net Subs 22 22 23 23 1 104.5%Net Assoc 11 11 11 12 1 109.1%Net Young Constructor 0 0 0 0 0 0.0%TOTAL 54 54 55 56 2 103.7%

Seattle DistrictNet Generals 82 82 86 88 6 107.3%Net Subs 74 74 78 79 5 106.8%Net Assoc 146 146 152 156 10 106.8%Net Young Constructor 1 1 1 1 0 100.0%TOTAL 303 303 317 324 21 106.9%

All DistrictsNet Generals 172 172 179 181 9 105.2%Net Subs 155 155 163 166 11 107.1%Net Assoc 217 217 228 235 18 108.3%Net Educ 1 1 1 1 0 100.0%Net Young Constructor 3 3 3 3 0 100.0%TOTAL 548 548 574 586 38 106.9%

Net RETRO 66 66 66 66 0 100.0%

TOTAL MEMBERS 614 614 640 652 38 106.2%

2014 Net Member Comparison Report

Tab Three

DATE: April 14, 2014 TO: AGC Board of Trustees FROM: David Kearby, Central District Manger SUBJECT: CENTRAL DISTRICT REPORT Summary: As of the March 31st Renewal Report, we have only one Associate member with dues outstanding. For non-renewing members, we lost two Associate members (one was purchased by an AGC member firm out of Seattle and one moved to California), and one subcontractor (reduced work in Washington following their relocation to Idaho). For new member marketing, a mailer was sent containing the AGC Annual Report to several targeted prospects with follow-up calls and conversations. The letter attached to the mailer, and subsequent conversations, focused on AGC benefits such as Safety Team, Retro and AGC Health Plan. We also held an insurance broker education lunch to talk to member and non-member insurance firms about the AGC Health Plan. These efforts have resulted in four new members (one GC, two Subs, and one Associate). Future prospecting over the next two months will focus on Retro and Safety Team services as we look to make a marketing push before June. We will continue to utilize current member suggestions and testimonials along with a postcard piece and follow-up calls and conversations. Since the February Board Report, we have held four member benefit functions ranging from our quarterly safety forum, to a certification course, and well attended membership dinner. We will be holding a Lean course on April 11. On April 22 and 23 we will look to hold our first Build Your Network lunches in Wenatchee and Yakima. This was an idea by Liz Evans to offer smaller networking venues for our members in smaller districts where larger monthly meetings don’t make sense. These are also opportunities to invite targeted prospects. After April we will look to hold these lunches monthly, and in rotating locations between Wenatchee, Ellensburg, Yakima and Sunnyside. You are all invited to attend this year’s 17th Annual Central District Golf Tournament scheduled for Friday June 13th at Apple Tree Golf Resort. If the last few years hold true, we will be enjoying 80 degree weather and plenty of sunshine! We hope to see you there. Upcoming Events:

Build Your Network Lunch Wenatchee – April 22 Build Your Network Lunch Sunnyside – April 23 NW Energy Efficiency Seminar Yakima – April 24 HR Roundtable Seattle – April 29 Quarterly Safety Forum – May 6 17th Annual Golf Tournament – June 13

Date: April 2, 2014 To: AGC Board of Trustees From: Liz Evans, Northern District Manager Re: Northern District Report Membership: The District picked up a new Associate law firm member, Belcher Swanson. Wendy Eickmeyer and Josh Turrell at Larson Gross were the members who assisted with this recruitment effort. Wendy and Josh are also helping with recruiting Cowden Sand and Gravel. I have built a Snohomish Country prospect list of approximately 50 contractors and subcontractors. I have mailed them the AGC Annual Report and will begin marketing our retro program in April/May. District Events: The Northern District had another successful Lobby Day attended by John Huntley (Mills), Frank Imhof (IMCO) and Ray Pierce (Haskell). They were able to connect with most of our representatives. Last month, we had a full house for our quarterly safety program. New Programs: Our District has partnered with Bellingham School District to host two Lunch with the Crews and jobsite tours. IMCO Construction hosted 8 students at their Lynden Wastewater Treatment Plant. Andgar Corporation will host 8 welding students on April 16 at their facility. Our members enjoy having the students at their sites and are terrific hosts. This is a great way for students to connect with the industry outside the traditional career fair model and far more effective. The District launched a monthly Build Your Network lunch program, where we invited industry experts, community leaders, political representatives, and interesting people to have a casual interactive lunch with no Power Points or handouts allowed – it’s the face-to-face social media experience. This program will take the place of our traditional membership breakfast model. Our first event is April 17, and we have a nice turnout scheduled to attend.

1

Date: April 14, 2014

To: AGC Board of Trustees

From: John Parker, UNIMARK Construction; Seattle District Representative to the Board

Re: SEATTLE DISTRICT REPORT

ACTIVITIES AND EVENTS Neutral Intervention and Facilitation At the February membership meeting, Dick Andrews, former SDOT Construction Manager and Ron Leaders of Contract Solutions presented to members their “Neutral Intervention and Facilitation Program.” The program has a proven history of identifying risks, resolving issues and expediting decisions that result in real savings both in project time and reduced costs. Coaching to Win! In March nationally recognized speaker, trainer and facilitator Karen Johnston described specific techniques and processes for contractor teams to use when making proposals to clients. The $65M Pike Place Market renovation is the Topic for the April 15 Meeting. Ben Franz-Knight, Executive Director of the Pike Place Market Preservation and Development Authority, will present an overview of the project; discuss the uses to be included within the development and the construction schedule. Board members are encouraged to attend. 2014 Oles Morrison AGC of Washington Seattle District Golf Tournament The annual Oles Morrison/AGC of Washington – Seattle District Golf Tournament is scheduled for Monday, May 19 at the Bear Creek Country Club in Woodinville. The costs per player is $250 or $1000 per foursome. On Wednesday, April 2, GC foursomes will be able to pre-register by going to the on-line register link at: http://www1.mysignup.com/cgibin/view.cgi?datafile=seattle_district_golf_tournament Pre-registration for GC’S will remain open through April 8 and then registration will be opened to all comers. All excess proceeds from the tournament go to support AGC BUILD PAC. Golf Tournament Sponsorship Opportunities/Raffle Items Sponsor an activity and get your company’s name in front of one of the most well attended events of the year! This annual tournament includes contests, a reception, dinner and awards, and when it comes to local industry exposure, it's your chance to hit the center of the green. And you can also donate a quality item to the raffle and get additional recognition for your company. For a listing of sponsorship opportunities and/or donate a raffle item contact Stacy Mullane at 206.812.4854.

ADVOCACY April 22 King County Transportation Vote If approved, Proposition 1 would provide dedicated transportation funding available to preserve current Metro transit service levels and provide transportation improvements, including road preservation, safety and maintenance projects, by authorizing the King County Transportation District (KCTD) to levy a 0.1% sales and use tax and a $60 vehicle fee, each for up to ten years. Proposition

2

1 would also establish a low income vehicle fee rebate of $20 and provide funding for a low income Metro transit fare.

The Seattle District Local Government Affairs Committee discussed the issue and decided to remain neutral regarding the ballot measure. The District favors a statewide approach for transportation funding but leaves it up to individual members within King County to make decisions regarding whether or not to support the proposal.

Contractor Evaluation and Apprenticeship Utilization Requirements Separate committees of AGC contractors are working hard on these issues. The City of Seattle and Sound transit have initiated new contractor evaluation procedures. In the case of the City, AGC members are helping write the policy. Sound Transit members are commenting on procedures the agency has already drafted. With regard to apprenticeship utilization procedures, members are helping update the current requirements with new language and rewrites for both the City of Seattle and the Port of Seattle. INDUSTRY NEWS Three-county Construction-Industry Labor Market Assessment As part of their efforts to expand access for disadvantaged individuals to the construction industry, the City of Seattle recently completed a report that evaluates the construction labor market and workforce availability for King, Pierce and Snohomish counties through 2019. While the report was conducted to provide background for the City’s proposed Targeted Hiring Proposal, (another issues being worked on by District members), it contains useful information for anyone involved with construction labor demand and workforce planning. For a copy of the report contact Jerry Dinndorf. MEMBERSHIP Since the February Board meeting, the Seattle District has requested Board approval for 10 new members; 1 General Contractor, 2 Subcontractors and 7 Associate members.

Date: April 14, 2014

To: AGC Board of Trustees

From: Tim Attebery, Southern District Manager

Re: Southern District Report

-Northwest Steel& Pipe, Franklin Roofing Enterprises and T. Barger Dirtworks all became news members of AGC from the south sound area in March.

-L&I Director Joel Sacks was our dinner meeting speaker in March. Joel took a good number of questions from the membership and promised to come back next year.

-Commercial construction lending was the topic at our April dinner meeting. A local bank executive talked about the current and future lending environment and how it might touch the construction industry.

-The annual Southern District Army Corps of Engineers project preview was well attended. Members learned about upcoming projects at JBLM and other federal facilities in the region.

-Comedian David Crowe will entertain members at the ever-popular Southern District Cinco de Mayo dinner meeting. You may well have seen David on HBO, Showtime, ABC or Comedy Central, and he's entertained hundreds of corporate audiences as well. Mark your calendars -- you won't want to miss this great annual event!

-As always, AGC is looking out for its members’ interests, locally, and continues to help lead a coalition fighting a harmful paid sick leave ordinance in Tacoma. We're working to find candidates for public office who the AGC can support and are also working with coalition partners interested in improving Tacoma's infrastructure.

-The David L. Ashbaugh Education Center opened for business in the Southern District on March 18. Members in the Southern District decided to name AGC’s classroom space in Fife after the late David Ashbaugh. David’s family expressed gratitude for this honor.

Tab Four

Date: April 1, 2014

To: Board of Trustees

From: Jerry VanderWood, Director of Communications Sean Lewis, Marketing Manager

Re: Communications and Future Leadership Forum (FLF) Report Marketing/Communications We have been busy with a number of initiatives lately, including the new “premier” ad campaign that was developed primarily for print advertising (most commonly in the DJC). Every month, we run a series of three consecutive weekly eight-page corner ads on the DJC’s front page, then a single half-page ad on page two. With a Premier Programs, Proven Value theme, we developed the smaller ads to individually promote our health plan, our retirement plan, our Retro program and our Safety Team. Every fourth week, our half-page ad then promotes the full range of AGC membership benefits. We are confident that this exposure of some great benefits has played a role in our increased membership over the past six months or so.

We also produced the 2013 Annual Report and distributed it to all members and legislators. We continue to regularly engage with our followers at least weekly on Facebook and Twitter; these media are also very useful for promotion of events and happenings. We regularly assemble and distribute e-newsletters for our four districts as well as produce the bi-monthly AGC Works e-newsletters – all of which have been refined and re-branded a bit from past formats.

We are currently working with Liz Evans to steadily promote the 2014 Build Washington Awards program, coming up in May, which includes mailed invitations, promotional postcards, on-going newsletter promos and regular social media plugs as well.

Finally, we continue to be steadily involved in the ongoing effort to research and strategically plan the possible revamping of our website and database systems, which is an extensive effort for everyone involved. Within our website’s existing content-management system, a number of refinements have been made to the written and visual information across the entire website.

FLF The Future Leadership Forum (FLF) is planning an education series around leadership topics. This will include five classes on topics such as time management, communication skills, and learning from mistakes. Two presenters from FMI and the new President of AGC of America are expected to participate. This is an exciting new approach for FLF, which is still in the planning stages, but be on the lookout for more information soon! In addition, FLF will hold social/networking events during the year. The first one held at Brave Horse Tavern in March sold out.

The 2014 FLF Steering Committee includes: Ian McFarland, University Mechanical (Chair); Bryan Kelley, Oles Morrison (Bryan was also elected to AGC of America’s Construction Leadership Council); Hunter Collins, PCL; Tim Nierman, Parker Smith and Feek; Tristan Swanson, Ashbaugh Beal; Katie Trimpe, Turner; Sean Woerman, Lydig; and Cole Verner, Absher Construction.

Tab Five

AGC 2014 February Financial Notes Net Operating Income – see Consolidated Statement of Operations (tab 6) As of February 28, 2014 the Net Operating Income (NOI) equals $1,192 million vs. a year-to-date budget NOI of $1.100 million creating a favorable year-to-date budget variance of $92K. The year-to-date positive revenue variance of $76K combined with the positive expense variance of $16K produces the total favorable year-to-date budget variance of $92K. Income Variance The year-to-date positive revenue variance of $76K (see Consolidated Statement of Operations – YTD Variance column) is primarily from above budget revenue in Membership Dues, Other Rent and all other revenue categories except Program revenue. Expense Variance The year-to-date positive expense variance of $16K is primarily comprised of under budget expenses in all expense categories except Miscellaneous Meetings. Accounts Receivable

Building Marina AR Parking AGCEF Other AR Total

January (12,067) 2,300 28,219 25,795 73,971 118,216

February 1,667 7,966 22,448 9,861 43,237 85,178

Note: AR Building primarily represents past billings from building tenants. AR Marina primarily represents past billings from moorage tenants. AR Parking primarily represents receivables for parking. AR AGCEF represents billings to AGC Education Foundation

AR Other represents billings outstanding for purchases and events (i.e. annual meeting, sponsorships, membership dues, Retro, etc.).

Page 1 of 2 For Internal Use Only

AGC Financial Notes - Continued AGC Actual / Forecast --- see 12 Month Actual / Forecast to Budget As of February 28, 2014, AGC’s 2014 annual forecast net operating income equals $93K versus an annual budget net operating income of $15K. AGC Building: Occupancy rate is 96% as of February 28, 2014.

Page 2 of 2 For Internal Use Only

For Internal Use Only February-14

2014 2014Total Total

Actual / Forecast Budget VarianceRetro Plan Income 1,713,601 1,713,000 601Retro Exp Gross (1,488,601) (1,488,000) (601)

Net Retro Income 225,000 225,000 0

REVENUESMembership Dues 1,732,206 1,675,000 57,206Program Revenue / Grant Revenue 144,685 167,025 (22,340)Event Revenue 250,935 246,525 4,410Building / Retail Rent (Seattle, Marina, Fife) 2,698,731 2,691,435 7,296Other Rent Revenue (Parking, Moorage) 901,312 886,010 15,302Other Revenue / CAM 35,319 35,646 (327)Misc Income 16,181 16,630 (449)Gain/Loss on Disposal of Asset 0 0 0

Operating Revenue 5,779,370 5,718,271 61,098

TOTAL REVENUE 6,004,370 5,943,271 61,098

EXPENSESSalaries 2,205,243 2,207,363 2,120Payroll Burden Taxes & Benefits 635,930 640,455 4,525Auto Expense / Corporate Travel 33,103 35,213 2,109Miscellaneous Meetings 121,805 93,520 (28,286)Consultant Fees 49,491 53,799 4,308Office Expense 79,541 76,225 (3,316)Membership Dues/Donations 158,904 159,933 1,030Rent 76,597 80,200 3,602Technology Expense 72,966 72,200 (765)Phone Exp. 34,214 34,260 46Program / Grant Expense 74,181 92,977 18,796Membership Promotion 180,617 184,652 4,036Event Exp 252,857 257,353 4,496Insurance / Tax / Training 58,398 61,353 2,955Building / Marina Expense 1,209,085 1,210,686 1,601Leasing Comm. Amortization 60,000 60,000 0Depreciation 608,355 608,355 0

TOTAL EXPENSES 5,911,285 5,928,542 17,258

OPERATING INCOME (LOSS) 93,085 14,729 78,356

Less Special Projects / Contributions 0 0 0

NET OPERATING INCOME (LOSS) - FORECAST VS. BUDGET 93,085 14,729 78,356

Non-Operating Investment Income (Loss) 44,069 13,000 31,069

NET INCOME (LOSS) 137,154 27,729 109,425

Gain/Loss on Disposal of Asset 0 0 0

TOTAL INCOME 137,154 27,729 109,425

Working CapitalNet Operating Income 93,085 14,729 78,356Amortization 60,000 60,000 0Depreciation 608,355 608,355 (0)

Available Cash (Working Capital) 761,440 683,084 78,356

Less:

Debt Service - Principle 76,000 76,000 0Capital Expenditures - Association 155,000 115,000 (40,000)Capital Expenditures - Seattle Building 701,008 741,000 39,992Capital Expenditures - Marina 91,209 90,000 (1,209)Tenant Improvements - Building 146,413 155,000 8,587Lease Commissions 88,159 35,000 (53,159)

Total Deductions 1,257,788 1,212,000 (45,788)

Cash (Working Capital) Variance Favorable (Unfavorable) (496,349) (528,916) 32,567

AGC of Washington2014 Cash Activity Forecast

MEMORANDUM

To: The Board of Trustees and all Department Heads From: Kelly Barber, AGC Controller Date: April 1, 2014 Re: AGC Financial Statements as of February 28, 2014

Summary of Operations

As of February 28, 2014 the Association (including properties) had a positive variance over the budget by $95K.

97% of budgeted annual dues revenue has been received as of February 28, 2014.

Statement of Financial Position (Balance Sheet)

The operating cash and cash equivalent balance for the month ending February 28, 2014 was $2.4 million in low risk and highly liquid investments with a maturity date of three months or less.

As of February 28, 2014, the investment portfolio market value was $2.228 million which consisted of $67K in short term investments, $1.207 million in equities and $954K in securities.

Associated General Contractors of WashingtonStatement of Financial PositionFor the Period Ending 02/28/2014

Feb DecUnaudited Audited

ASSETS

Current Assets Cash 2,467,855 2,516,975 Short-Term Investments 67,716 81,991 Accounts Receivable 85,178 99,047 Prepaid Expenses 249,369 152,425 Total Current Assets 2,870,118 2,850,438

Group Retrospective Rating Plan Assets 15,962,382 16,189,775

Prepaid Lease Commissions 59,753 52,864

Long Term Investments 2,160,953 2,111,608

Property and Equipment Land and Land Improvements 2,376,138 2,376,138 Buildings 12,660,033 12,588,366 Leasehold Improvements 1,384,853 1,379,853 Furniture and Equipment 897,909 888,757 Automobiles 46,473 46,556 Marina 1,434,317 1,434,317 Total Property Plant and Equipment 18,799,723 18,713,987 Less: Accumulated Depreciation (10,506,426) (10,405,034) Net Property Plant and Equipment 8,293,297 8,308,953

TOTAL ASSETS 29,346,503 29,513,638

LIABILITIES & NET ASSETS

Current Liabilities Accounts Payable 196,134 433,976 Accrued Expenses 84,380 84,463 Deferred Income - 923,433 Current Portion - LT Debt 80,728 80,728

361,242 1,522,600

Group Retrospective Rating Plan Liability 15,962,382 16,189,775

Long Term Debt, Less Current Portion 456,710 470,073

Tenant Deposits 172,369 164,810

Total Liabilities 16,952,704 18,347,259

Net Assets Unrestricted 10,293,799 9,066,379 Board Designated 2,100,000 2,100,000

TOTAL UNRESTRICTED NET ASSETS 12,393,799 11,166,379

TOTAL LIABILITIES AND NET ASSETS 29,346,503 29,513,638

- -

[INTERNAL REPORT]

Unaudited

Changes in Net Assets 1,227,420

Adjustments to Changes in Net Assets to Cash Provided by Operating Activities Depreciation 101,393 (Gain) Loss on Disposal of Property - (Gain) Loss on Sales of Investments (116,897) (Gain) Loss on Investments @ Market 79,071

(Increase) / Decrease in accounts: Accounts Receivable 13,868 Prepaid Expenses and Other Assets (103,834)

Increase / (Decrease) in accounts: Accounts Payable (237,842) Accrued Expenses (83) Tenant Deposits 7,559 Deferred Income (923,433) Net Cash Provided / Used) by Operating Activities 47,222

Cash Flow From Investing Activities: Purchase of Long Term Investment (11,519) Leasehold Improvements - Seattle Bldg (5,000) Capital Improvements on Seattle Bldg (71,667) Capital Improvements on Marina - Purchase of property, equipment and automobile (9,069) Net Cash Provided / (Used) by Investing Activities (97,255)

Cash Flow from Financing Activities: Current Long Term Debt - Long Term Debt / Loan Payments (13,363) Net Cash Provided / (Used) by Financing Activities (13,363)

Net Increase (Decrease) in Cash (63,396)

Cash, Beginning of Year 2,516,975 Cash Equivalents Beginning of Year 81,991 Total Cash and Cash Equivalents, Beginning of Year 2,598,966

Cash, End of Period 2,467,855 Cash Equivalents, End of Period 67,716 Total Cash and Cash Equivalents, End of Period 2,535,570

-

Associated General Contractors of WashingtonCash Flow Statement

For the 2 Month(s) ending 02/28/2014

Associated General Contractors of Washington (INTERNAL REPORT)

2/28/2014Schedule of Reserve Funds BalanceOperations 3000-10-901 410,000 Plant & Equipment 3000-10-902 1,590,000 Special Projects 3000-10-903 100,000

2,100,000

Seattle Building Savings Account 200,095

2014 BalanceSpecial Projects from Reserves 2/28/2014 Approved Budget RemainingCentral Washington University - Grant 2500-89-000 - 10,000 10,000

- 10,000 10,000

** Statement of Capital Expenditures 2014 Balance(** Designed for Budget Monitoring Purposes) 2/28/2014 Approved Budget Remaining

Parking Lot Improvements 1503-50-000 - 51,000 51,000 Fife Building 1505-85-000 - 30,000 30,000 Automobile - Safety Dept. 1510-10-000 (83) 25,000 25,083 Computer Hardware/Software 1513-10-000 9,152 90,000 80,848 Legislative Office 1514-10-030 - - - Central Washington Office 1514-10-048 - - - SEA Bldg - Tenant Improvements 1550-50-000 5,000 125,000 120,000 SEA Bldg - Capital Improvements 1551-50-000 71,667 690,000 618,333 SEA Bldg - Lease Commissions 1402-50-050 6,890 35,000 28,111 Seattle Marina 1575-75-000 - 90,000 90,000

92,625 1,136,000 1,043,375

General Asset Capitalization Policy - computer hardware, software, office equipment, and furniture with useful life of at least one year and $2,000 or more must be capitalized - capital assets for properties must be at least $5,000 to be capitalized - depreciation expense per year is based on estimated useful life - depreciation expense may be prorated in the 1st year of a new purchase

Schedule of Depreciation Expenses Actual Budget Variance

Seattle District Office 6950-12-000 44 44 0 Southern District Office 6950-14-000 229 229 (0) Technology 6950-17-000 3,286 3,286 - Administration 6950-18-000 1,694 1,694 0 Accounting 6950-19-000 262 262 (0) State Government 6950-30-000 2,610 2,610 (0) Labor Relations 6950-34-000 64 64 0 Membership 6950-36-000 106 106 0 Safety 6950-42-000 1,514 1,514 (0) Central District 6950-48-000 68 68 0 Seattle Building 6950-50-000 78,655 78,655 (0) Seattle Marina 6950-75-000 8,295 8,295 0 Fife Building 6950-85-000 4,565 4,565 0

101,393 101,393 0

YTD 2014 BalanceBoard Contingency Expenses: 5120-13-054 2/28/2014 Approved Remaining

Board BoardBudget Contingency Contingency

20,000 - 20,000

2/28/2014

YTD

ACTUAL BUDGET VAR ACTUAL BUDGET VAR ACTUAL BUDGET VARI. Building & Properties: a) Seattle Building 492,485 472,799 19,686 379,041 386,147 (7,106) 113,444 86,653 26,791 b) Seattle Marina 116,237 113,650 2,587 98,391 97,104 1,288 17,846 16,546 1,299 c) Fife Building 10,516 10,516 0 33,278 32,958 319 (22,762) (22,442) (319)Total Building & Properties 619,238 596,965 22,273 510,710 516,209 (5,499) 108,528 80,757 27,771

II. Association: 1. Financial Assets 0 0 0 0 0 0 0 0 0

2. Admin. & Management a) Board of Trustees 0 0 0 8,159 14,662 (6,503) (8,159) (14,662) 6,503 b) Technology 0 0 0 23,198 19,425 3,773 (23,198) (19,425) (3,773) c) Administration 587 13,010 (12,423) 58,574 61,695 (3,121) (57,987) (48,685) (9,302) d) Accounting 8,400 8,400 0 45,392 41,672 3,720 (36,992) (33,272) (3,720)

8,987 21,410 (12,423) 135,324 137,454 (2,130) (126,337) (116,044) (10,292)

3. Member Services a) Communications 0 1,166 (1,166) 40,725 45,425 (4,699) (40,725) (44,259) 3,533 b) Meetings & Events 0 0 0 45,558 14,682 30,876 (45,558) (14,682) (30,876) c) Special Events 90,260 86,800 3,460 87,147 89,526 (2,380) 3,113 (2,726) 5,840 d) Member Service 1,638,806 1,566,600 72,206 29,243 29,376 (133) 1,609,563 1,537,224 72,339 e) Future Leadership Forum 0 0 0 3,412 3,414 (3) (3,412) (3,414) 3

1,729,066 1,654,566 74,500 206,084 182,424 23,661 1,522,982 1,472,142 50,840

4. Education & Training Service a) Workforce Development 0 0 0 32,607 30,440 2,167 (32,607) (30,440) (2,167) b) Safety 13,213 14,670 (1,457) 71,368 76,540 (5,172) (58,155) (61,870) 3,715 c) Group Retro 238,441 248,000 (9,559) 238,441 248,000 (9,559) 0 0 0

251,654 262,670 (11,016) 342,417 354,980 (12,564) (90,762) (92,310) 1,548

5. Government Relations a) Government Affairs Council 0 7,000 (7,000) 81,846 103,950 (22,104) (81,846) (96,950) 15,104 b) Build-Pac 0 0 0 8,113 6,253 1,861 (8,113) (6,253) (1,861) c) Public Works Committee 0 0 0 0 0 0 0 0 0 d) AGC - Federal Facilities 0 0 0 432 435 (3) (432) (435) 3

0 7,000 (7,000) 90,392 110,638 (20,246) (90,392) (103,638) 13,246

6. Industry Relations a) Diversity 0 0 0 0 0 0 0 0 0 b) Legal Affairs 0 0 0 0 0 0 0 0 0 c) Labor 0 0 0 31,960 33,505 (1,545) (31,960) (33,505) 1,545 d) Open Shop 0 0 0 2,385 2,577 (192) (2,385) (2,577) 192

0 0 0 34,346 36,083 (1,737) (34,346) (36,083) 1,737

7. Districts a) Seattle District 4,016 2,900 1,116 29,814 30,982 (1,168) (25,797) (28,082) 2,284 b) Southern District 2,340 3,000 (660) 36,066 38,695 (2,629) (33,726) (35,695) 1,969 c) Northern District 0 0 0 17,004 19,001 (1,997) (17,004) (19,001) 1,997 d) Central WA District 0 250 (250) 20,796 22,284 (1,489) (20,796) (22,034) 1,239

6,356 6,150 206 103,679 110,962 (7,283) (97,323) (104,812) 7,489

Total Association 1,996,064 1,951,796 44,268 912,241 932,541 (20,300) 1,083,822 1,019,255 64,567

Total of Assoc. & Prop 2,615,302 2,548,761 66,540 1,422,951 1,448,750 (25,799) 1,192,351 1,100,012 92,339

Non-Operating Income (Loss) 37,825 4,000 33,825 2,756 0 2,756 35,069 4,000 31,069

Grand Total 2,653,127 2,552,761 100,366 1,425,707 1,448,750 (23,043) 1,227,420 1,104,012 123,408

Associated General Contractors of WashingtonUnaudited Statement of Activities by Cost Center


REVENUE EXPENSES REVENUE OVER EXPENSES

MTD

ACTUAL BUDGET VAR ACTUAL BUDGET VAR ACTUAL BUDGET VARI. Building & Properties: a) Seattle Building 241,755 233,207 8,548 260,758 254,615 6,143 (19,003) (21,409) 2,405 b) Seattle Marina 57,150 56,825 325 44,938 44,992 (54) 12,213 11,833 379 c) Fife Building 5,258 5,258 0 20,667 21,521 (854) (15,409) (16,263) 854Total Building & Properties 304,163 295,290 8,873 326,363 321,129 5,235 (22,200) (25,839) 3,639

II. Association: 1. Financial Assets 0 0 0 0 0 0 0 0 0

2. Admin. & Management a) Board of Trustees 0 0 0 4,919 8,788 (3,870) (4,919) (8,788) 3,870 b) Technology 0 0 0 7,580 7,762 (182) (7,580) (7,762) 182 c) Administration 130 10,410 (10,280) 23,604 26,190 (2,586) (23,474) (15,780) (7,694) d) Accounting 8,400 8,400 0 21,141 20,187 954 (12,741) (11,787) (954)

8,530 18,810 (10,280) 57,244 62,928 (5,683) (48,714) (44,118) (4,596)

3. Member Services a) Communications 0 583 (583) 21,252 16,835 4,417 (21,252) (16,252) (5,000) b) Meetings & Events 0 0 0 23,017 8,116 14,901 (23,017) (8,116) (14,901) c) Special Events (300) 21,800 (22,100) 12,324 24,613 (12,289) (12,624) (2,813) (9,811) d) Member Service 109,453 89,100 20,353 13,057 13,338 (281) 96,397 75,762 20,635 e) Future Leadership Forum 0 0 0 1,712 1,657 54 (1,712) (1,657) (54)

109,153 111,483 (2,330) 71,362 64,559 6,802 37,792 46,924 (9,132)

4. Education & Training Service a) Workforce Development 0 0 0 15,864 15,220 644 (15,864) (15,220) (644) b) Safety 4,901 4,920 (19) 30,468 31,129 (660) (25,567) (26,209) 641 c) Group Retro 105,000 124,000 (19,000) 105,000 124,000 (19,000) 0 0 0

109,901 128,920 (19,019) 151,332 170,349 (19,016) (41,431) (41,429) (3)

5. Government Relations a) Government Affairs Council 0 0 0 40,215 46,365 (6,150) (40,215) (46,365) 6,150 b) Build-Pac 0 0 0 3,357 3,219 138 (3,357) (3,219) (138) c) Public Works Committee 0 0 0 0 0 0 0 0 0 d) AGC - Federal Facilities 0 0 0 216 218 (2) (216) (218) 2

0 0 0 43,787 49,802 (6,014) (43,787) (49,802) 6,014

6. Industry Relations a) Diversity 0 0 0 0 0 0 0 0 0 b) Legal Affairs 0 0 0 0 0 0 0 0 0 c) Labor 0 0 0 15,877 16,753 (876) (15,877) (16,753) 876 d) Open Shop 0 0 0 1,232 1,101 131 (1,232) (1,101) (131)

0 0 0 17,109 17,854 (745) (17,109) (17,854) 745

7. Districts a) Seattle District 840 1,450 (610) 15,506 14,366 1,141 (14,666) (12,916) (1,751) b) Southern District 1,840 3,000 (1,160) 18,570 21,597 (3,027) (16,730) (18,597) 1,867 c) Northern District 0 0 0 8,529 9,491 (962) (8,529) (9,491) 962 d) Central WA District 0 0 0 10,306 10,030 276 (10,306) (10,030) (276)

2,680 4,450 (1,770) 52,911 55,483 (2,573) (50,231) (51,033) 803

Total Association 230,265 263,663 (33,398) 393,745 420,974 (27,229) (163,481) (157,311) (6,169)

Total of Assoc. & Prop 534,428 558,953 (24,525) 720,108 742,103 (21,995) (185,681) (183,150) (2,530)

Non-Operating Income (Loss) 70,391 2,000 68,391 0 0 0 70,391 2,000 68,391

Grand Total 604,819 560,953 43,866 720,108 742,103 (21,995) (115,290) (181,150) 65,861

Associated General Contractors of WashingtonUnaudited Statement of Activities by Cost Center

For the Month ending 02/28/2014

REVENUE EXPENSES REVENUE OVER EXPENSE

FEB FEB YTD YTD YTD Annual BudgetACTUAL BUDGET ACTUAL BUDGET Variance BUDGET Remaining

Retro Plan Income 105,000 124,000 238,441 248,000 (9,559) 1,713,000 1,474,559Retro Exp Gross (105,000) (124,000) (238,441) (248,000) 9,559 (1,488,000) (1,249,559) Net Retro Income 0 0 0 0 (0) 225,000 225,000

Membership Dues 109,453 89,100 1,638,806 1,566,600 72,206 1,675,000 36,194Program / Grant Revenue 7,520 20,183 18,825 41,166 (22,341) 167,025 148,200Event Revenue (300) 21,800 91,210 86,800 4,410 246,525 155,315Building / Retail Rent 225,340 219,953 453,758 446,461 7,297 2,691,435 2,237,677Other Rent Revenue 75,619 72,005 159,143 143,840 15,303 886,010 726,867Other Revenue / CAM 3,204 3,332 6,337 6,664 (327) 35,646 29,309Misc Income 8,591 8,580 8,781 9,230 (449) 16,630 7,849 Total Revenue 429,428 434,953 2,376,860 2,300,761 76,099 5,943,271 3,566,410

Salaries 173,661 174,101 347,702 349,011 (1,309) 2,207,363 1,859,660Payroll Burden Taxes and Benefits 50,822 53,371 102,217 106,743 (4,526) 640,455 538,238Auto Expense / Corporate Travel 2,992 2,576 3,977 5,727 (1,750) 35,213 31,236Miscellaneous Meetings 25,414 11,942 45,180 21,043 24,137 93,520 48,340Consultant Fees 750 2,038 4,708 6,571 (1,863) 53,799 49,091Office Expense 9,378 7,144 17,832 15,308 2,524 76,225 58,393Membership Dues/Donations 11,818 14,174 27,212 29,087 (1,875) 159,933 132,721Rent 4,718 6,685 9,771 13,375 (3,605) 80,200 70,430Technology Expense 3,859 4,125 15,807 13,150 2,657 72,200 56,393Phone Expense 2,485 2,845 5,664 5,700 (36) 34,260 28,596Program/Grant Expense 1,403 7,575 12,372 30,995 (18,623) 92,977 80,605Membership Promotion 18,316 14,117 35,819 38,584 (2,765) 184,650 148,831Event Expense 9,676 21,800 84,950 89,800 (4,850) 257,353 172,403Insurance/Tax/Training 2,040 3,225 18,016 19,083 (1,067) 61,353 43,337Building / Marina Expense 242,080 236,689 341,891 345,180 (3,289) 1,210,686 868,796Leasing Comm. Amort. 5,000 5,000 10,000 10,000 0 60,000 50,000Depreciation 50,696 50,696 101,393 101,393 (0) 608,355 506,963 Total Expenses 615,108 618,103 1,184,510 1,200,750 (16,240) 5,928,542 4,744,033

Net Operating Income (Loss) (185,681) (183,150) 1,192,351 1,100,012 92,339 14,729 (1,177,622)

LT Inv - Dividends/Interest 437 2,000 5,126 4,000 1,126 24,000 18,874LT Inv - Net Gain (Loss) 69,954 0 32,700 0 32,700 0 (32,700)Investment Consultant Fee 0 0 (2,756) 0 (2,756) (11,000) (8,244)Non-Operating Income (Loss) 70,391 2,000 35,069 4,000 31,069 13,000 (22,069)

Gain / Loss on Disposal of Asset 0 0 0 0 0 0 0

Grand Total (115,290) (181,150) 1,227,420 1,104,012 123,408 27,729 (1,199,692)

Associated General Contractors of WashingtonStatement of Operations

CONSOLIDATEDFor the 2 Month(s) ending 02/28/2014


Retro Plan Income 105,000 124,000 238,441 248,000 (9,559) 1,713,000 1,474,559Retro Exp Gross (105,000) (124,000) (238,441) (248,000) 9,559 (1,488,000) (1,249,559) Net Retro Income 0 0 0 0 (0) 225,000 225,000

Membership Due 109,453 89,100 1,638,806 1,566,600 72,206 1,675,000 36,194Program / Grant Revenue 7,520 20,183 18,825 41,166 (22,341) 167,025 148,200Event Revenue (300) 21,800 91,210 86,800 4,410 246,525 155,315Misc Income 8,591 8,580 8,781 9,230 (449) 16,630 7,849 Total Revenue 125,265 139,663 1,757,622 1,703,796 53,826 2,330,180 572,558

Salaries 147,866 148,305 296,111 297,419 (1,309) 1,879,705 1,583,595Payroll Burden Taxes and Benefits 43,092 45,485 86,505 90,971 (4,466) 545,825 459,320Auto Expense / Corporate Travel 2,992 2,576 3,977 5,727 (1,750) 35,213 31,236Miscellaneous Meetings 25,414 11,942 45,180 21,043 24,137 93,520 48,340Consultant Fees 750 2,038 4,708 4,421 287 36,139 31,431Office Expense 9,378 7,144 17,832 15,308 2,524 76,225 58,393Membership Dues/Donations 11,818 14,174 27,212 29,087 (1,875) 159,933 132,721Rent 4,718 6,685 9,771 13,375 (3,605) 80,200 70,430Technology Expense 3,859 4,125 15,807 13,150 2,657 72,200 56,393Phone Expense 2,485 2,845 5,664 5,700 (36) 34,260 28,596Program/Grant Expense 1,403 7,575 12,372 30,995 (18,623) 92,977 80,605Membership Promotion 18,316 14,117 35,819 38,584 (2,765) 184,650 148,831Event Expense 9,676 21,800 84,950 89,800 (4,850) 257,353 172,403Insurance/Tax/Training 2,040 3,225 18,016 19,083 (1,067) 61,353 43,337Depreciation 4,939 4,939 9,877 9,877 (0) 59,264 49,387 Total Expenses 288,745 296,974 673,800 684,541 (10,741) 3,668,817 2,995,017

Net Operating Income (Loss) (163,481) (157,311) 1,083,822 1,019,255 64,567 (1,338,637) (2,422,459)

Gain / Loss on Disposal of Asset 0 0 0 0 0 0 0

Grand Total (163,481) (157,311) 1,083,822 1,019,255 64,567 (1,338,637) (2,422,459)


ASSOCIATIONFor the 2 Month(s) ending 02/28/2014


Building / Retail Rent 225,340 219,953 453,758 446,461 7,297 2,691,435 2,237,677 Other Rent Revenue 75,619 72,005 159,143 143,840 15,303 886,010 726,867 Other Revenue / CAM 3,204 3,332 6,337 6,664 (327) 35,646 29,309 Total Revenue 304,163 295,290 619,238 596,965 22,273 3,613,091 2,993,853

Salaries 25,796 25,796 51,592 51,592 0 327,658 276,066 Payroll Burden Taxes & Benefits 7,730 7,886 15,712 15,772 (60) 94,631 78,918 Consultant Fees - - - 2,150 (2,150) 17,660 17,660 Building / Marina Expense 242,080 236,689 341,891 345,180 (3,289) 1,210,686 868,796 Leasing Comm. Amort. 5,000 5,000 10,000 10,000 - 60,000 50,000 Depreciation 45,758 45,758 91,515 91,515 - 549,091 457,576 Total Expenses 326,363 321,129 510,710 516,209 (5,499) 2,259,725 1,749,016

Gain / Loss on Disposal of Asset - - - - - - -

Net Operating Income (Loss) (22,200) (25,839) 108,528 80,757 27,771 1,353,366 1,244,837


BUILDING & MARINAFor the 2 Month(s) ending 02/28/2014


Building Rent - Seattle 4700-50-000 177,984 172,627 359,131 351,809 7,322 2,155,377 1,796,246Parking Lot Income 4701-50-000 22,448 19,145 50,666 38,120 12,546 251,600 200,934Operating Expense Reimb - Seattle Building 4702-50-000 2,470 2,675 4,941 5,350 (409) 32,100 27,159Retail Rents 4703-50-000 38,350 38,350 76,701 76,700 1 460,200 383,499Other Rental Income 4704-50-000 384 360 875 720 155 4,410 3,535ATM Rental Income 4706-50-000 53 50 106 100 6 600 494Gain/Loss on Disposal of Asset 4950-50-000 0 0 0 0 0 0 0 Total Revenue 241,755 233,207 492,485 472,799 19,686 2,904,287 2,411,802

Salaries 5010-50-000 16,794 16,794 33,588 33,588 0 201,529 167,941Payroll Taxes 5020-50-052 1,504 1,484 3,170 2,968 202 17,808 14,639Health/Security/LTD 5020-50-070 1,924 1,971 3,837 3,942 (105) 23,650 19,813Pension 5020-50-139 1,547 1,602 3,094 3,204 (110) 19,226 16,132Incentive Compensation 5010-50-058 0 0 0 0 0 11,527 11,527Legal / Professional 5040-50-060 0 0 0 1,500 (1,500) 3,000 3,000Audit 5040-50-076 0 0 0 0 0 8,250 8,250Roof Repairs & Maint-Gen 6020-50-300 50 0 155 0 155 1,415 1,260Pkg Lot Rep & Maint-Gen 6035-50-300 0 250 0 250 (250) 400 400Snow Removal 6036-50-300 0 1,550 0 3,100 (3,100) 3,100 3,100HVAC Contr Serv & Per-Off 6040-50-100 1,535 0 1,535 5,120 (3,585) 20,480 18,945HVAC Contr Serv & Per-Gen 6040-50-300 376 0 1,814 1,474 340 5,896 4,082HVAC Repairs & Maint-Off 6045-50-100 5,687 8,425 9,736 10,225 (489) 24,045 14,309Elev Contr Serv & Per-Off 6050-50-100 814 835 1,628 1,670 (42) 10,020 8,392Elevator Rep & Maint-Off 6055-50-100 0 200 0 200 (200) 2,270 2,270Electrical Rep & Supp-Off 6060-50-100 6 935 1,562 1,560 2 9,910 8,348Plumbing Rep & Supp-Off 6070-50-100 0 500 (1,191) 1,000 (2,191) 6,900 8,091Fire / Life / Safety-Gen 6080-50-300 1,467 465 6,549 5,805 744 11,630 5,081General Repair & Maint-NR (Non-CAM Exp) 6100-50-000 2,985 500 2,985 1,000 1,985 6,000 3,015General Rep & Maint-Off 6100-50-100 380 835 635 1,670 (1,035) 11,120 10,485Painting & Decorating-Off 6110-50-100 0 1,350 0 1,850 (1,850) 2,725 2,725Locks, Keys & Signage-Off 6120-50-100 2,214 590 2,435 1,990 445 4,890 2,455Ext Landscaping Serv-Gen 6210-50-300 880 880 1,760 1,760 0 11,655 9,895Ext Landscaping Rep-Gen 6220-50-300 88 0 88 150 (62) 300 212Int Landscaping Serv-Off 6230-50-100 526 525 1,052 1,050 2 6,300 5,248Base Janitorial Contr-Off 6310-50-100 7,260 7,200 14,171 14,400 (229) 86,400 72,229Janitorial-Tenant Share 6310-50-900 178 177 355 354 1 2,124 1,769


SEATTLE BUILDINGFor the 2 Month(s) ending 02/28/2014



SEATTLE BUILDINGFor the 2 Month(s) ending 02/28/2014

Janitorial-Tenant Offset 6310-50-910 (178) (177) (355) (354) (1) (2,124) (1,769)Janitorial Supplies-Gen 6320-50-300 1,781 1,785 2,650 3,570 (920) 21,420 18,770Window Cleaning-Off 6330-50-100 0 0 0 0 0 5,845 5,845Other Janitorial Serv-Off 6380-50-100 200 0 200 200 0 1,200 1,000Other Janitorial Serv-Gen 6380-50-300 525 425 950 850 100 5,100 4,150Other Security Serv-Gen 6450-50-300 0 0 0 0 0 2,910 2,910Electricity-Off 6510-50-100 8,707 9,315 16,967 18,630 (1,663) 111,780 94,813Water/Sewer-Off 6520-50-100 (1,244) 3,400 1,282 6,800 (5,518) 40,800 39,518Water/Sewer-Tenant Share 6520-50-900 1,341 1,100 2,570 2,200 370 13,200 10,631Water/Sewer-Tenant Offset 6520-50-910 (1,341) (1,100) (2,570) (2,200) (370) (13,200) (10,631)Gas-Off 6530-50-100 6,178 4,585 11,060 9,170 1,890 55,020 43,960Trash Removal & Recyc-Off 6550-50-100 1,156 1,515 2,590 3,030 (440) 18,180 15,590Marketing & Leasing-NR 6710-50-000 95 100 220 200 20 1,200 980Tenant Relations-NR 6720-50-000 0 0 0 0 0 4,800 4,800On-Site Costs-Gen 6740-50-300 452 333 1,588 667 921 4,000 2,412Administrative / Office Exp 6780-50-000 689 500 970 1,000 (30) 6,000 5,030Other Administrative-Gen 6780-50-300 176 583 2,159 1,167 993 7,000 4,841Real Estate Taxes-Gen 6810-50-300 138,328 130,000 138,328 130,000 8,328 260,000 121,672Personal Property Tax-Gen 6820-50-300 588 0 588 1,000 (412) 1,000 412Insurance-Gen 6900-50-300 9,379 9,030 18,758 18,060 698 108,360 89,603Interest Expense 6910-50-000 1,568 1,768 1,549 3,558 (2,009) 19,710 18,161Brokers' Commission-Amortizatn 6600-50-000 5,000 5,000 10,000 10,000 0 60,000 50,000Depreciation 6950-50-000 39,328 39,328 78,655 78,655 0 471,931 393,275 Total Expenses 260,758 254,615 379,041 386,147 (7,106) 1,717,215 1,338,174

Net Income (19,003) (21,409) 113,444 86,653 26,791 1,187,072 1,073,628


Building Rent - Marina Bldg 4700-75-000 4,229 4,200 8,374 8,400 (26) 50,400 42,026Moorage Rent/A-E Docks 4701-75-000 52,788 52,500 107,601 105,000 2,601 630,000 522,399Misc Income - Marina 4702-75-000 133 125 262 250 12 1,500 1,238 Total Revenue 57,150 56,825 116,237 113,650 2,587 681,900 565,663

Salaries 5010-75-000 8,393 8,393 16,787 16,787 (0) 100,720 83,933Payroll Taxes 5020-75-052 751 761 1,606 1,522 84 9,133 7,526Health/Security/LTD 5020-75-070 1,011 1,036 2,017 2,073 (56) 12,436 10,419Pension 5020-75-139 798 826 1,595 1,653 (58) 9,918 8,323Incentive Compensation 5010-75-058 0 0 0 0 0 6,053 6,053Legal-NR 5040-75-060 0 0 0 250 (250) 250 250Audit 5040-75-076 0 0 0 0 0 3,960 3,960Electrical Rep & Supp-NR 6060-75-000 285 0 330 0 330 1,150 820Plumbing Rep & Supp-NR 6070-75-000 1,992 0 2,262 370 1,892 2,220 (42)Fire / Life / Safety-NR 6080-75-000 46 50 3,053 100 2,953 2,100 (953)General Reprs & Maint-NR 6100-75-000 226 340 598 680 (82) 6,750 6,152Painting & Decorating-NR 6110-75-000 0 0 0 0 0 200 200Locks, Keys & Signage-NR 6120-75-000 0 210 0 420 (420) 2,520 2,520Base Janitorial Contr-NR 6310-75-000 0 235 0 470 (470) 2,820 2,820Janitorial Supplies-NR 6320-75-000 0 65 0 130 (130) 780 780Other Janitorial Serv-NR 6380-75-000 0 0 150 0 150 0 (150)Land Lease Payments-NR 6460-75-000 0 0 27,350 28,500 (1,150) 114,000 86,650Electricity-NR 6510-75-000 6,029 3,984 11,318 7,968 3,350 47,800 36,482Electricity-Tenant Offset 6510-75-910 (4,754) (3,196) (8,750) (6,392) (2,358) (38,352) (29,602)Water & Sewer-NR 6520-75-000 298 344 625 688 (63) 4,128 3,503Water/Sewer-Tenant Offset 6520-75-910 (187) (157) (397) (314) (83) (1,884) (1,487)Trash Removal & Recyc-NR 6550-75-000 1,442 1,485 2,446 2,970 (524) 17,820 15,374Other Administration-NR 6780-75-000 61 0 214 0 214 0 (214)Real Estate Taxes-NR 6810-75-000 19,906 22,000 19,906 22,000 (2,094) 44,000 24,094Insurance-NR 6900-75-000 4,494 4,467 8,988 8,934 54 53,600 44,612Depreciation 6950-75-000 4,148 4,148 8,295 8,295 (0) 49,771 41,476 Total Expenses 44,938 44,992 98,391 97,104 1,288 453,343 354,951

Net Income 12,213 11,833 17,846 16,546 1,299 228,557 210,712


SEATTLE MARINAFor the 2 Month(s) ending 02/28/2014


Office Rent - Fife Building 4700-85-000 4,776 4,776 9,552 9,552 0 25,458 15,906Operating Exp Reimbursement - Fife Building 4702-85-000 482 482 964 964 0 1,446 482 Total Revenue 5,258 5,258 10,516 10,516 0 26,904 16,388

Salaries 5010-85-000 608 608 1,217 1,217 0 7,302 6,085Payroll Taxes 5020-85-052 53 57 109 114 (5) 686 577Health/Security/LTD 5020-85-070 87 90 175 179 (5) 1,076 902Pension 5020-85-139 55 58 111 116 (6) 698 587Incentive Compensation 5010-85-058 0 0 0 0 0 526 526Audit 5040-85-076 0 0 0 400 (400) 2,200 2,200Building Cleaning 6010-85-000 750 750 1,500 1,500 0 9,000 7,500Supplies & Materials 6270-85-000 0 40 0 80 (80) 480 480Misc. Building Maintenance 6290-85-000 690 475 1,894 950 944 5,700 3,806Fire Alarm System Monitoring 6292-85-000 0 250 72 350 (278) 850 778HVAC Maintenance & Repairs 6400-85-000 595 0 595 0 595 2,400 1,805Electricity 6510-85-000 0 325 381 661 (280) 4,000 3,619Water & Sewer 6520-85-000 349 346 349 346 3 1,980 1,631Gas 6530-85-000 0 150 562 300 262 1,800 1,238Trash Removal & Recyc 6550-85-000 0 90 188 180 8 1,080 892Real Estate Taxes 6730-85-240 15,198 16,000 15,198 16,000 (802) 16,000 802Insurance & Bonds 6900-85-000 0 0 6,364 6,000 364 6,000 (364)Depreciation 6950-85-000 2,282 2,282 4,565 4,565 (0) 27,389 22,824 Total Expenses 20,667 21,521 33,278 32,958 319 89,168 55,890

Net Income (15,409) (16,263) (22,762) (22,442) (319) (62,264) (39,502)


FIFE BUILDINGFor the 2 Month(s) ending 02/28/2014


Salaries 5010-13-000 2,167 2,167 4,335 4,335 (0) 26,009 21,674Payroll Taxes 5020-13-052 183 151 372 303 70 1,816 1,443Health/Security/LTD 5020-13-070 179 184 358 368 (10) 2,210 1,851Pension 5020-13-139 215 220 429 441 (11) 2,645 2,216Incentive Compensation 5010-13-058 0 0 0 0 0 1,053 1,053Officers / Board Meetings 5035-13-056 0 25 0 1,675 (1,675) 6,300 6,300Miscellaneous Expense 5035-13-072 812 950 812 950 (138) 5,350 4,538Office Expense 5050-13-000 1,362 90 1,852 1,590 262 1,590 (262)Board Contingency 5120-13-054 0 5,000 0 5,000 (5,000) 20,000 20,000 Total Expenses 4,919 8,788 8,159 14,662 (6,503) 66,972 58,814

Net Income (4,919) (8,788) (8,159) (14,662) 6,503 (66,972) (58,814)


BOARD OF TRUSTEESFor the 2 Month(s) ending 02/28/2014


Salaries 5010-17-000 1,555 1,555 3,111 3,111 0 18,663 15,552Payroll Taxes 5020-17-052 131 135 267 270 (3) 1,618 1,352Health/Security/LTD 5020-17-070 158 165 316 330 (14) 1,982 1,666Pension 5020-17-139 117 139 235 278 (43) 1,669 1,435Incentive Compensation 5010-17-058 0 0 0 0 0 947 947Travel 5030-17-000 0 0 0 0 0 0 0Miscellaneous Meetings 5035-17-072 0 30 0 60 (60) 360 360Office Exp 5050-17-000 0 20 0 40 (40) 240 240New Application 5081-17-017 0 85 0 170 (170) 1,000 1,000Tech Equipment Maint- Parts 5082-17-000 256 300 3,783 600 3,183 13,600 9,817Professional Service 5083-17-017 2,863 2,865 2,863 5,730 (2,867) 34,380 31,517Professional Service 5083-17-036 0 600 3,600 1,200 2,400 7,200 3,600Cell Phone Exp. 5087-17-000 217 225 437 450 (13) 2,700 2,263New / Renewal Software License Fee 5089-17-017 639 0 4,616 3,900 716 11,720 7,104Virus / Firewall Renewals 5089-17-062 0 0 0 0 0 0 0Depreciation 6950-17-000 1,643 1,643 3,286 3,286 0 19,717 16,431 Total Expenses 7,580 7,762 23,198 19,425 3,773 115,797 92,599

Net Income (7,580) (7,762) (23,198) (19,425) (3,773) (115,797) (92,599)


TECHNOLOGYFor the 2 Month(s) ending 02/28/2014


Conference Center Rental 4100-18-238 0 150 0 150 (150) 600 600McGraw Hill Affinity Plan 4100-18-303 0 200 144 200 (56) 1,000 856Verizon Affinity Plan - NPP 4100-18-304 0 7,000 0 7,000 (7,000) 21,000 21,000Enterprise Affinity Plan 4100-18-305 0 0 260 2,000 (1,740) 7,000 6,740Office Depot Affinity Plan 4100-18-310 0 3,000 0 3,200 (3,200) 9,400 9,400Misc Income 4900-18-194 42 60 42 60 (18) 180 138Misc Income/Service 4900-18-195 89 0 142 400 (258) 1,000 858Gain/Loss on Disposal of Asset 4950-18-000 0 0 0 0 0 0 0 Total Revenue 130 10,410 587 13,010 (12,423) 40,180 39,593

Salaries 5010-18-000 13,227 13,172 26,399 26,345 54 158,070 131,671Temp Help 5010-18-051 0 150 0 300 (300) 2,000 2,000Employee Milestone Awards 5010-18-057 0 0 1,114 1,110 4 3,330 2,216Payroll Taxes 5020-18-052 1,144 1,004 2,322 2,008 314 12,051 9,728Health/Security/LTD 5020-18-070 1,477 1,515 2,949 3,030 (81) 18,180 15,232Pension 5020-18-139 1,176 1,369 2,352 2,739 (387) 16,432 14,081Incentive Compensation 5010-18-058 0 0 0 0 0 8,843 8,843Auto / Travel Expense 5030-18-000 0 15 0 35 (35) 200 200Miscellaneous Meetings 5035-18-072 215 375 458 750 (292) 4,440 3,982Legal 5040-18-060 0 208 0 416 (416) 2,500 2,500Office Exp. 5050-18-000 722 1,534 2,493 3,068 (575) 18,414 15,921Office Equipment Lease 5050-18-066 0 0 609 550 59 2,200 1,592Office Equipment Maintenance 5050-18-067 1,593 1,775 2,555 2,200 355 7,800 5,245Postage - Administration 5050-18-069 18 50 60 100 (40) 600 540Parking / Metro 5050-18-071 135 280 270 560 (290) 3,360 3,090Contract Printing 5050-18-074 0 50 0 100 (100) 600 600Office Equipment - Interest 5050-18-290 58 75 58 150 (92) 866 808Membership Dues 5060-18-061 0 0 750 1,500 (750) 1,630 880Subscriptions 5060-18-062 0 0 0 0 0 1,142 1,142Donations/ Memorials 5060-18-063 143 100 143 200 (57) 1,200 1,057Internet Connnection 5085-18-000 0 65 0 130 (130) 780 780Telephone Exp.- Admin. 5086-18-000 583 560 1,163 1,120 43 6,780 5,617Cell Phone Exp.- Admin. 5087-18-000 225 120 962 240 722 1,440 478Insurance & Bonds 5900-18-064 0 0 8,077 7,500 577 7,500 (577)Staff Professional Training 5900-18-065 1,720 2,925 3,828 5,850 (2,022) 35,000 31,172Personal Property Taxes 5900-18-068 320 0 320 0 320 320 0Depreciation 6950-18-000 847 847 1,694 1,694 (0) 10,163 8,469 Total Expenses 23,604 26,190 58,574 61,695 (3,121) 325,841 267,267

Net Income (23,474) (15,780) (57,987) (48,685) (9,302) (285,661) (227,674)


ADMINISTRATIONFor the 2 Month(s) ending 02/28/2014


Misc. Income - Accounting 4900-19-195 0 0 0 0 0 0 0AGCA Discount Earned 4900-19-200 8,400 8,400 8,400 8,400 0 8,400 0 Total Revenue 8,400 8,400 8,400 8,400 0 8,400 0

Salaries 5010-19-000 12,343 12,343 24,685 24,686 (0) 148,113 123,428Payroll Taxes 5020-19-052 1,058 1,114 2,154 2,227 (73) 13,362 11,209Health/Security/LTD 5020-19-070 1,632 1,672 3,255 3,345 (89) 20,068 16,813Pension 5020-19-139 982 1,086 1,965 2,172 (208) 13,033 11,068Incentive Compensation 5010-19-058 0 0 0 0 0 9,790 9,790Auto Expense 5030-19-000 0 20 0 40 (40) 240 240Miscellaneous Meetings 5035-19-072 66 46 109 246 (137) 700 591Audit 5040-19-076 104 0 3,404 0 3,404 7,254 3,850ADP Payroll Fees 5040-19-077 427 440 1,085 1,225 (140) 5,685 4,600Professional Service 5040-19-144 218 290 218 580 (362) 3,500 3,282Office Exp. 5050-19-000 25 85 146 170 (24) 1,020 874Postage - Accounting 5050-19-069 107 135 246 270 (24) 1,620 1,374Contract Printing 5050-19-074 0 0 0 0 0 550 550Bank Charge 5050-19-231 55 25 111 50 61 300 189Membership Dues 5060-19-061 0 0 0 0 0 735 735Subscriptions 5060-19-062 20 0 20 0 20 120 100Discounts Allowed (Visa/Dues) 5140-19-078 3,972 2,500 7,731 6,000 1,731 15,000 7,269State Excise Taxes 5900-19-079 0 300 0 400 (400) 5,700 5,700City Excise Tax 5900-19-279 0 0 0 0 0 7,500 7,500Depreciation 6950-19-000 131 131 262 262 0 1,572 1,310 Total Expenses 21,141 20,187 45,392 41,672 3,720 255,862 210,470

Net Income (12,741) (11,787) (36,992) (33,272) (3,720) (247,462) (210,470)


ACCOUNTINGFor the 2 Month(s) ending 02/28/2014


Website Advertising 4100-22-197 0 583 0 1,166 (1,166) 7,000 7,000 Total Revenue 0 583 0 1,166 (1,166) 7,000 7,000

Salaries 5010-22-000 10,702 10,659 21,361 21,318 43 127,907 106,546Payroll Taxes 5020-22-052 907 987 1,860 1,974 (114) 11,842 9,982Health/Security/LTD 5020-22-070 1,401 1,456 2,799 2,913 (114) 17,476 14,677Pension 5020-22-139 189 726 377 1,452 (1,074) 8,710 8,332Incentive Compensation 5010-22-058 0 0 0 0 0 8,422 8,422Auto Expense 5030-22-000 10 0 44 0 44 0 (44)Miscellaneous Meetings 5035-22-072 224 60 264 120 144 720 456Professional Service 5040-22-144 0 0 0 0 0 1,000 1,000Website Maintenance 5040-22-250 0 100 0 200 (200) 1,200 1,200Office Exp. 5050-22-000 20 50 486 50 436 500 14Postage - Communications 5050-22-069 881 600 2,288 600 1,688 1,500 (788)Protrait Photography 5050-22-089 1,541 0 1,541 1,000 541 2,500 959Subscriptions 5060-22-062 0 0 0 405 (405) 712 712Cell Phone Exp.- Comm. 5087-22-000 75 105 150 210 (60) 1,260 1,110Advertising 5140-22-082 5,167 1,667 5,602 3,334 2,268 20,000 14,398Public Relations 5140-22-083 0 250 0 500 (500) 3,500 3,500Newsletter 5140-22-084 136 175 261 350 (89) 2,100 1,839Annual & Special Reports 5140-22-086 0 0 3,273 11,000 (7,727) 11,000 7,727 Total Expenses 21,252 16,835 40,725 45,425 (4,699) 220,348 179,623

Net Income (21,252) (16,252) (40,725) (44,259) 3,533 (213,348) (172,623)


COMMUNICATIONSFor the 2 Month(s) ending 02/28/2014


CEO Out of Town Travel 5035-24-090 0 166 0 332 (332) 2,000 2,000Executive Leadership Council 5035-24-094 0 350 0 350 (350) 4,700 4,700National AGC Convention 5035-24-095 40 0 598 2,400 (1,802) 13,500 12,902Western Chapters Meetings 5035-24-098 20,964 6,600 39,121 6,600 32,521 9,000 (30,121)National AGC Leadership Conference 5035-24-099 0 0 0 0 0 18,500 18,500Chapter Meetings 5035-24-100 731 0 1,157 600 557 1,200 43Miscellaneous Conference 5035-24-126 1,282 1,000 1,282 1,000 282 2,200 918Immediate Past President Night 5150-24-093 0 0 3,400 3,400 (0) 3,400 0Old Timers Night 5150-24-129 0 0 0 0 0 3,200 3,200 Total Expenses 23,017 8,116 45,558 14,682 30,876 57,700 12,142

Net Income (23,017) (8,116) (45,558) (14,682) (30,876) (57,700) (12,142)

Associated General Contractors of WashingtonStatement of OperationsMEETING AND EVENTS



Safety/Constr Awards Dnr-INC 4150-25-127 0 0 12,000 15,000 (3,000) 45,000 33,000Annual Meeting 4150-25-128 (300) 21,800 78,260 71,800 6,460 78,800 540 Total Revenue (300) 21,800 90,260 86,800 3,460 123,800 33,540

Salaries 5010-25-000 2,031 2,031 4,063 4,063 0 24,375 20,313Payroll Taxes 5020-25-052 177 189 366 377 (12) 2,264 1,898Health/Security/LTD 5020-25-070 264 271 528 543 (15) 3,256 2,728Pension 5020-25-139 213 222 427 444 (17) 2,662 2,236Incentive Compensation 5010-25-058 0 0 0 0 0 1,579 1,579Auto Expense 5030-25-000 0 100 202 200 2 1,000 798Miscellaneous Meetings 5035-25-072 0 0 0 0 0 500 500Office Exp. 5050-25-000 0 0 0 50 (50) 300 300Postage 5050-25-069 44 0 94 50 44 150 56Safety/Excellence Cons Din-Exp 5150-25-127 0 0 5,000 10,000 (5,000) 45,000 40,000Annual Meeting 5150-25-128 5,314 21,800 72,188 71,800 388 78,800 6,612Award & Recognition 5150-25-130 4,281 0 4,281 2,000 2,281 10,500 6,219 Total Expenses 12,324 24,613 87,147 89,526 (2,380) 170,387 83,240

Net Income (12,624) (2,813) 3,113 (2,726) 5,840 (46,587) (49,700)


SPECIAL EVENTSFor the 2 Month(s) ending 02/28/2014


Intro / Retro 4010-36-204 0 0 3,400 1,300 2,100 5,200 1,800Constructor In 4010-36-206 550 0 7,150 4,800 2,350 4,800 (2,350)Min Dues - Introductory GC 4010-36-209 3,400 0 14,800 1,300 13,500 2,600 (12,200)Min Dues - Associates 4010-36-211 18,308 13,000 166,321 155,000 11,321 171,900 5,579Nat'l Educational Associate 4010-36-212 0 0 100 0 100 0 (100)Min Dues - Retro 4010-36-213 400 0 6,200 6,000 200 6,000 (200)Youth Constructor Dues 4010-36-248 0 100 0 200 (200) 500 500NH-GC Dues 4030-36-205 30,110 13,000 217,765 242,000 (24,235) 255,000 37,235Vol Dues - GC 4030-36-208 40,560 49,000 865,945 805,000 60,945 859,000 (6,945)Vol Dues - Sub 4030-36-210 16,125 14,000 357,125 351,000 6,125 370,000 12,875Prior Years Dues 4040-36-000 0 0 0 0 0 0 0 Sub-Total Dues Revenue 109,453 89,100 1,638,806 1,566,600 72,206 1,675,000 36,194

YTD % to Budget 97.84%

Misc Income/Mailing Labels 4900-36-198 0 0 0 0 0 0 0Roster Advertising 4900-36-216 0 0 0 0 0 6,000 6,000 Sub-Total Other Revenue 0 0 0 0 0 6,000 6,000

Total Revenue 109,453 89,100 1,638,806 1,566,600 72,206 1,681,000 42,194

Salaries 5010-36-000 9,940 9,940 19,879 19,879 0 119,275 99,396Payroll Taxes 5020-36-052 860 819 1,744 1,638 106 9,828 8,084Health/Security/LTD 5020-36-070 1,216 1,250 2,429 2,500 (70) 14,997 12,568Pension 5020-36-139 921 1,037 1,841 2,074 (233) 12,443 10,602Incentive Compensation 5010-36-058 0 0 0 0 0 7,369 7,369Auto Expense 5030-36-000 0 25 0 50 (50) 300 300Miscellaneous Meetings 5035-36-072 41 0 57 0 57 1,200 1,143Office Exp. 5050-36-000 50 0 50 300 (250) 600 550Postage - Member Services 5050-36-069 0 10 52 20 32 1,030 978Cell Phone Exp.- Member Services 5087-36-000 67 80 137 160 (23) 960 823Early Payment Disc. (2%) 5140-36-078 (89) 0 2,949 2,400 549 29,550 26,602Membership Promotion 5140-36-080 0 125 0 250 (250) 1,500 1,500Depreciation 6950-36-000 53 53 106 106 (0) 634 529 Total Expenses 13,057 13,338 29,243 29,376 (133) 199,687 170,444

Net Income 96,397 75,762 1,609,563 1,537,224 72,339 1,481,313 (128,250)


MEMBER SERVICEFor the 2 Month(s) ending 02/28/2014


FLF Event Revenue 4150-16-175 0 0 0 0 0 4,000 4,000 Total Revenue 0 0 0 0 0 4,000 4,000

Salaries 5010-16-000 1,246 1,235 2,482 2,471 11 14,826 12,344Payroll Taxes 5020-16-052 107 113 216 227 (11) 1,362 1,145Health/Security/LTD 5020-16-070 174 179 348 358 (10) 2,150 1,802Pension 5020-16-139 94 129 189 258 (70) 1,550 1,361Incentive Compensation 5010-16-058 0 0 0 0 0 1,053 1,053Rent / Facility Cost 5035-16-000 0 0 0 0 0 0 0Membership Meetings 5140-16-177 90 0 177 100 77 2,300 2,123Event / Entertainment 5150-16-175 0 0 0 0 0 2,800 2,800Food / Beverage 5300-16-000 0 0 0 0 0 7,300 7,300 Total Expenses 1,712 1,657 3,412 3,414 (3) 33,339 29,928

Net Income (1,712) (1,657) (3,412) (3,414) 3 (29,339) (25,928)


FUTURE LEADERSHIP FORUMFor the 2 Month(s) ending 02/28/2014


Salaries 5010-26-000 2,029 2,029 4,059 4,059 0 24,352 20,293Payroll Taxes 5020-26-052 175 184 356 368 (12) 2,208 1,852Health/Security/LTD 5020-26-070 280 287 558 574 (15) 3,442 2,883Pension 5020-26-139 163 178 326 356 (30) 2,139 1,813Incentive Compensation 5010-26-058 0 0 0 0 0 1,684 1,684Donations - Other 5060-26-000 0 0 0 0 0 5,000 5,000Donations - AGCEF 5060-26-063 10,542 10,542 21,083 21,083 0 126,500 105,417Events 5120-26-158 0 0 0 0 0 750 750Education Subsidy to Members 5140-26-136 2,675 2,000 6,225 4,000 2,225 24,000 17,775 Total Expenses 15,864 15,220 32,607 30,440 2,167 190,075 157,468

Net Income (15,864) (15,220) (32,607) (30,440) (2,167) (190,075) (157,468)


WORKFORCE DEVELOPMENTFor the 2 Month(s) ending 02/28/2014


Safety Promotion Items 4100-42-080 2,815 3,500 8,830 9,000 (170) 25,200 16,370Safety Team Inspections 4100-42-218 2,025 1,300 4,185 5,300 (1,115) 19,575 15,390Safety Training 4100-42-219 0 0 0 0 0 5,000 5,000Safety Grants Income 4100-42-241 0 0 0 0 0 0 0Field Day / Safety Team (Golf) 4150-42-176 0 0 0 0 0 20,725 20,725Shipping - Safety Products 4900-42-195 61 120 198 370 (172) 1,050 852 Total Revenue 4,901 4,920 13,213 14,670 (1,457) 71,550 58,337

Salaries 5010-42-000 20,231 20,231 40,461 40,462 (0) 242,769 202,308Payroll Taxes 5020-42-052 1,791 1,913 3,641 3,827 (185) 22,959 19,318Health/Security/LTD 5020-42-070 3,048 3,132 6,086 6,265 (178) 37,588 31,502Pension 5020-42-139 2,001 2,373 4,002 4,747 (745) 28,480 24,478Incentive Compensation 5010-42-058 0 0 0 0 0 18,422 18,422Auto/Travel Expense 5030-42-000 905 1,022 1,222 2,044 (822) 12,270 11,048Corporate Travel 5030-42-178 488 305 522 610 (88) 4,680 4,158Consultants Fees 5040-42-144 0 0 0 0 0 3,000 3,000Office Exp. 5050-42-000 96 100 159 200 (41) 1,200 1,041Postage - Safety 5050-42-069 202 195 421 390 31 2,300 1,879Contract Printing 5050-42-074 0 0 0 0 0 0 0Membership Dues 5060-42-061 0 0 0 0 0 410 410Cell Phone Exp.- Safety 5087-42-000 584 210 794 420 374 2,720 1,926Safety Promotion 5120-42-080 364 775 9,313 12,950 (3,637) 22,352 13,039Safety Grants Expense 5120-42-241 0 0 0 0 0 0 0Hearing Conservation 5120-42-251 0 0 0 0 0 1,430 1,430Safety Equipment 5120-42-350 0 0 0 0 0 200 200Golf Tournment - Safety Team 5150-42-176 0 0 0 0 0 13,153 13,153Insurance 5900-42-064 0 0 3,232 2,883 349 2,883 (349)Depreciation 6950-42-000 757 757 1,514 1,514 0 9,083 7,569 Total Expenses 30,468 31,014 71,368 76,310 (4,942) 425,899 354,531

Net Income (25,567) (26,094) (58,155) (61,640) 3,485 (354,349) (296,194)


SAFETYFor the 2 Month(s) ending 02/28/2014


PY 18 - Retro Income 4500-27-221 0 0 0 0 0 0 0PY 19 - Retro Income 4500-27-222 0 0 0 0 0 0 0PY 20 - Retro Income 4500-27-223 0 0 0 0 0 0 0Retro Exp Gross/Reimbursement 4500-27-242 105,000 124,000 238,441 248,000 (9,559) 1,488,000 1,249,559 Total Revenue 105,000 124,000 238,441 248,000 (9,559) 1,713,000 1,474,559

Annual Meeting - Retro Breakfast 5502-27-221 TO 55 0 0 0 0 0 0 0Annual Meeting - AGC 5503-27-221 TO 55 901 0 1,111 0 1,111 0 (1,111)Association Dues - WSIA 5504-27-221 TO 55 0 0 0 0 0 0 0Auto / Travel Expense 5505-27-221 TO 55 196 0 261 0 261 0 (261)Computer Equip Maint. - Upgrade 5506-27-221 TO 55 261 0 522 0 522 0 (522)Ins - Liability / Directors & Officers (D&O) 5507-27-221 TO 55 0 0 8,229 0 8,229 0 (8,229)Misc. Expenses 5510-27-221 TO 55 0 0 0 0 0 0 0Misc. Meetings 5511-27-221 TO 55 26 0 196 0 196 0 (196)Office Equipment 5512-27-221 TO 55 445 0 868 0 868 0 (868)Office Rent & Parkng 5513-27-221 TO 55 4,222 0 8,659 0 8,659 0 (8,659)Office Supplies 5514-27-221 TO 55 121 0 573 0 573 0 (573)Postage 5515-27-221 TO 55 0 0 406 0 406 0 (406)Salaries 5516-27-221 TO 55 46,659 0 93,318 0 93,318 0 (93,318)Payroll Taxes & Benefits 5517-27-221 TO 55 15,953 0 32,139 0 32,139 0 (32,139)Telephone / Cellular 5520-27-221 TO 55 834 0 1,053 0 1,053 0 (1,053)

Subtotal 69,618 0 147,336 0 147,336 0 (147,336)

RTW Classroom Income 5524-27-221 TO 55 0 0 0 0 0 0 0RTW Center 5525-27-221 TO 55 39,923 0 79,846 0 79,846 0 (79,846)Classroom Yakima 5527-27-221 TO 55 1,700 0 3,400 0 3,400 0 (3,400)

Subtotal 41,623 0 83,246 0 83,246 0 (83,246)

NET EXPENSE 111,241 0 230,582 0 230,582 0 (230,582)Clearing Account 5528-27-221 TO 55 (111,241) 0 (230,582) 0 (230,582) 0 230,582

TOTAL NET EXPENSE 0 0 0 0 0 0 0

Retro Exp Gross/Reimbursement 5500-27-242 105,000 124,000 238,441 248,000 (9,559) 1,488,000 1,249,559

NET OPR INCOME / (EXPENSE) 0 0 0 0 0 225,000 225,000


GROUP RETROFor the 2 Month(s) ending 02/28/2014


Legislative Reimbursement 4100-30-147 0 0 0 0 0 17,500 17,500 Total Revenue 0 0 0 0 0 17,500 17,500

Salaries 5010-30-000 20,592 19,814 40,578 39,627 951 237,763 197,185Contract Lobbyists / Temp Help 5010-30-051 5,000 6,200 10,000 12,100 (2,100) 62,700 52,700Payroll Taxes 5020-30-052 1,775 1,762 3,567 3,525 42 21,148 17,581Health/Security/LTD 5020-30-070 2,303 2,346 4,584 4,692 (108) 28,149 23,566Pension 5020-30-139 2,031 2,033 4,006 4,067 (61) 24,401 20,395Incentive Compensation 5010-30-058 0 0 0 0 0 13,633 13,633Auto Expense 5030-30-000 60 155 167 355 (188) 1,990 1,823Corporate Travel 5030-30-178 407 250 407 500 (93) 4,100 3,693Miscellaneous Meetings 5035-30-072 847 1,950 1,107 5,180 (4,073) 12,000 10,893Professional Studies 5040-30-149 0 0 0 0 0 2,500 2,500Office Exp. 5050-30-000 1,028 650 1,252 1,250 2 7,150 5,898Office Equipment Lease 5050-30-066 16 20 32 40 (8) 240 208Office Equipment Maintenance 5050-30-067 181 100 181 200 (19) 1,200 1,019Postage - GAC 5050-30-069 450 150 1,050 150 900 1,000 (50)Contract Printing 5050-30-074 258 0 258 0 258 4,700 4,442Membership Dues 5060-30-061 0 0 720 220 500 3,815 3,095Subscriptions 5060-30-062 0 10 0 120 (120) 610 610Donations 5060-30-063 0 100 0 650 (650) 1,100 1,100Coalitions 5060-30-259 0 500 0 1,000 (1,000) 1,000 1,000Rent - Leg. Office 5070-30-000 3,460 5,285 7,256 10,575 (3,320) 63,400 56,145Internet Service Provider 5084-30-000 100 110 200 220 (20) 1,320 1,120Telephone Exp.- Leg. 5086-30-000 236 350 472 700 (228) 4,000 3,528Cell Phone Exp.- Leg. 5087-30-000 165 275 336 550 (214) 3,300 2,964WebEx 5088-30-000 0 0 0 1,000 (1,000) 1,000 1,000Legislative Reporting Service 5130-30-147 0 0 1,638 1,770 (132) 3,970 2,332Gov't Affairs Committee Exp. 5130-30-148 0 0 0 0 0 375 375Insurance & Bonds 5900-30-064 0 0 1,426 1,350 76 1,350 (76)Depreciation 6950-30-000 1,305 1,305 2,610 2,610 0 15,661 13,050 Total Expenses 40,215 43,365 81,846 92,450 (10,604) 523,575 441,729

Net Income (40,215) (43,365) (81,846) (92,450) 10,604 (506,075) (424,229)


GOVERNMENT AFFAIRS COUNCILFor the 2 Month(s) ending 02/28/2014


Salaries 5010-31-000 2,247 2,222 4,473 4,445 29 26,668 22,195Payroll Taxes 5020-31-052 193 202 393 403 (10) 2,418 2,025Health/Security/LTD 5020-31-070 274 280 546 560 (15) 3,363 2,817Pension 5020-31-139 216 220 430 440 (10) 2,637 2,207Incentive Compensation 5010-31-058 0 0 0 0 0 1,632 1,632Auto Expense:BUILD 5030-31-000 0 0 0 0 0 300 300Corporate Travel 5030-31-178 0 0 0 0 0 250 250Misc. Meetings 5035-31-072 0 50 0 100 (100) 800 800Office Exp. 5050-31-000 0 185 0 185 (185) 195 195Indirect Overhead / Admin - Build Pac 5060-31-063 427 60 2,271 120 2,151 3,200 929 Total Expenses 3,357 3,219 8,113 6,253 1,861 41,463 33,350

Net Income (3,357) (3,219) (8,113) (6,253) (1,861) (41,463) (33,350)


BUILD-PACFor the 2 Month(s) ending 02/28/2014


Salaries 5010-33-000 167 167 333 333 (0) 2,000 1,667Payroll Taxes 5020-33-052 14 15 30 30 (1) 182 152Health/Security/LTD 5020-33-070 17 18 35 36 (1) 213 178Pension 5020-33-139 18 18 35 36 (1) 217 182Incentive Compensation 5010-33-058 0 0 0 0 0 105 105Miscellaneous Meetings 5035-33-072 0 0 0 0 0 4,000 4,000 Total Expenses 216 218 432 435 (3) 6,717 6,285

Net Income (216) (218) (432) (435) 3 (6,217) (5,785)

Associated General Contractors of WashingtonStatement of OperationsAGC - FEDERAL FACILITIES



Misc Income/Labor Forms 4900-34-220 0 0 0 0 0 0 0 Total Revenue 0 0 0 0 0 0 0

Salaries 5010-34-000 11,944 11,944 23,888 23,888 0 143,329 119,441Payroll Taxes 5020-34-052 1,037 1,067 2,119 2,134 (15) 12,804 10,685Health/Security/LTD 5020-34-070 1,355 1,394 2,708 2,789 (81) 16,732 14,024Pension 5020-34-139 1,245 1,290 2,490 2,580 (90) 15,480 12,990Incentive Compensation 5010-34-058 0 0 0 0 0 8,264 8,264Auto Expense 5030-34-000 38 100 56 200 (144) 1,200 1,144Legal 5040-34-060 0 500 0 1,000 (1,000) 6,000 6,000Office Exp. 5050-34-000 0 40 0 80 (80) 480 480Postage - Labor 5050-34-069 7 10 14 20 (6) 120 106Cell Phone Exp.- Labor 5087-34-000 67 75 137 150 (13) 900 763Labor Relations 5120-34-163 151 200 284 400 (116) 2,400 2,116Trustee Expense 5120-34-166 0 100 200 200 0 1,200 1,000Events - Turner School 5150-34-172 0 0 0 0 0 0 0Depreciation 6950-34-000 32 32 64 64 (0) 386 322 Total Expenses 15,877 16,753 31,960 33,505 (1,545) 209,295 177,335

Net Income (15,877) (16,753) (31,960) (33,505) 1,545 (209,295) (177,335)


LABORFor the 2 Month(s) ending 02/28/2014


Salaries 5010-40-000 835 835 1,670 1,670 (0) 10,020 8,350Payroll Taxes 5020-40-052 72 77 149 155 (5) 928 779Health/Security/LTD 5020-40-070 107 108 212 216 (4) 1,294 1,082Pension 5020-40-139 78 81 155 162 (7) 972 817Incentive Compensation 5010-40-058 0 0 0 0 0 632 632Auto Expense 5030-40-000 0 0 0 0 0 0 0Corporate Travel 5030-40-178 140 0 199 175 24 525 326Resource Materials 5050-40-074 0 0 0 75 (75) 300 300Open Shop Dinner Meeting 5120-40-167 0 0 0 75 (75) 375 375Open Shop Speaker Exp. 5120-40-168 0 0 0 50 (50) 200 200Open Shop Meeting Costs 5120-40-169 0 0 0 0 0 200 200Open Shop Seminars 5120-40-170 0 0 0 0 0 375 375Top Student Awards 5120-40-171 0 0 0 0 0 575 575Misc. Industry Support 5120-40-172 0 0 0 0 0 1,025 1,025 Total Expenses 1,232 1,101 2,385 2,577 (192) 17,421 15,036

Net Income (1,232) (1,101) (2,385) (2,577) 192 (17,421) (15,036)


OPEN SHOPFor the 2 Month(s) ending 02/28/2014


Members' Event Income 4100-12-175 0 0 60 0 60 12,500 12,440District Mtgs - Seattle 4100-12-177 840 1,450 3,306 2,900 406 10,150 6,844Golf - Seattle District 4150-12-176 0 0 650 0 650 45,000 44,350 Total Revenue 840 1,450 4,016 2,900 1,116 67,650 63,634

Salaries 5010-12-000 9,186 9,186 18,371 18,371 0 110,229 91,857Payroll Taxes 5020-12-052 791 845 1,633 1,689 (56) 10,136 8,503Health/Security/Ltd 5020-12-070 1,059 1,089 2,117 2,178 (61) 13,066 10,949Pension 5020-12-139 939 1,000 1,878 1,999 (121) 11,996 10,118Incentive Compensation 5010-12-058 0 0 0 0 0 6,474 6,474Auto Expense 5030-12-000 62 100 155 200 (45) 1,500 1,345Miscellaneous Meetings 5035-12-072 67 0 67 0 67 1,500 1,433Office Expense 5050-12-000 0 0 0 0 0 500 500Postage - Seattle District 5050-12-069 0 200 0 200 (200) 600 600Contract Printing 5050-12-074 0 0 0 0 0 600 600Membership Dues 5060-12-061 0 0 0 0 0 4,000 4,000Donations 5060-12-063 0 0 0 0 0 1,500 1,500Cell Phone Exp.- Seattle 5087-12-000 67 75 137 150 (13) 900 763Local Gov't Affairs 5130-12-174 179 250 179 250 (71) 6,000 5,821Membership Promotion 5140-12-080 0 0 77 0 77 3,500 3,423Holiday Open House 5140-12-175 0 0 0 0 0 9,000 9,000Memb mtgs/ Seattle 5140-12-177 3,134 1,600 5,155 3,300 1,855 12,000 6,845Member Events - Expense 5150-12-175 0 0 0 2,600 (2,600) 9,000 9,000Golf Tournament - Seattle District 5150-12-176 0 0 0 0 0 40,500 40,500Depreciation 6950-12-000 22 22 44 44 (0) 263 219 Total Expenses 15,506 14,366 29,814 30,982 (1,168) 246,264 216,450

Net Income (14,666) (12,916) (25,797) (28,082) 2,284 (178,614) (152,817)


SEATTLE DISTRICTFor the 2 Month(s) ending 02/28/2014


District Mtgs - Southern 4100-14-177 1,840 3,000 2,040 3,000 (960) 21,000 18,960Golf - Southern District 4150-14-176 0 0 300 0 300 37,000 36,700 Total Revenue 1,840 3,000 2,340 3,000 (660) 58,000 55,660

Salaries 5010-14-000 11,561 11,561 23,122 23,122 (0) 138,730 115,608Payroll Taxes 5020-14-052 1,010 1,087 2,069 2,173 (105) 13,040 10,971Health/Security/LTD 5020-14-070 1,661 1,704 3,316 3,408 (92) 20,449 17,133Pension 5020-14-139 1,051 1,105 2,102 2,210 (109) 13,262 11,160Incentive Compensation 5010-14-058 0 0 0 0 0 10,001 10,001Auto Expense 5030-14-000 90 242 150 484 (334) 2,904 2,754Corporate Travel 5030-14-178 9 42 9 84 (75) 504 495Miscellaneous Meetings 5035-14-072 117 125 120 250 (130) 1,500 1,380Office Exp. 5050-14-000 151 200 373 400 (27) 2,400 2,027Office Equipment Maintenance 5050-14-067 118 208 571 416 155 2,496 1,925Postage - South District 5050-14-069 0 122 0 244 (244) 1,464 1,464Office Equipment - Interest - FIFE 5050-14-290 76 55 154 110 44 660 506Subscriptions 5060-14-062 0 12 0 24 (24) 144 144Donations - Pierce County CC Day 5060-14-063 0 0 0 0 0 1,000 1,000Telephone Exp.- Southern 5086-14-000 0 450 470 900 (430) 5,400 4,930Cell Phone Exp.- Southern 5087-14-000 67 70 137 140 (3) 840 703Memb Mtgs/ Southern 5140-14-177 2,546 4,500 3,246 4,500 (1,254) 37,000 33,754Golf Tournament - Southern District 5150-14-176 0 0 0 0 0 33,000 33,000Depreciation 6950-14-000 115 115 229 229 0 1,375 1,146 Total Expenses 18,570 21,597 36,066 38,695 (2,629) 286,168 250,102

Net Income (16,730) (18,597) (33,726) (35,695) 1,969 (228,168) (194,442)


SOUTHERN DISTRICTFor the 2 Month(s) ending 02/28/2014


Memb Mtgs/Northern District 4100-46-177 0 0 0 0 0 1,000 1,000 Total Revenue 0 0 0 0 0 1,000 1,000

Salaries 5010-46-000 4,740 4,740 9,479 9,479 0 56,875 47,396Payroll Taxes 5020-46-052 413 440 853 880 (27) 5,283 4,429Health/Security/LTD 5020-46-070 617 633 1,231 1,266 (35) 7,598 6,366Pension 5020-46-139 498 518 995 1,035 (40) 6,212 5,217Incentive Compensation 5010-46-058 0 0 0 0 0 3,684 3,684Auto Expense 5030-46-000 287 200 349 400 (51) 2,000 1,651Corporate Travel 5030-46-178 0 0 0 0 0 600 600Miscellaneous Meetings 5035-46-072 9 100 29 200 (171) 1,200 1,171Office Exp. 5050-46-000 26 0 108 125 (17) 750 642Postage - North District 5050-46-069 20 30 43 80 (37) 480 437Membership Dues 5060-46-061 0 0 239 0 239 700 461Subscriptions 5060-46-062 0 0 165 165 0 365 200Rent - N. District 5070-46-000 750 750 1,500 1,500 0 9,000 7,500Telephone Exp.- Northern 5086-46-000 0 0 0 10 (10) 60 60Cell Phone Exp.- Northern 5087-46-000 67 80 137 160 (23) 960 823Community Services/ Image Bldg 5120-46-185 0 0 0 0 0 1,500 1,500Membership Training 5120-46-189 637 500 686 1,000 (314) 4,500 3,814Local Gov't Affairs 5130-46-174 0 400 0 600 (600) 1,500 1,500Membership Promotion 5140-46-080 306 100 306 100 206 1,000 694Memb mtgs/ Northern 5140-46-177 160 1,000 339 1,500 (1,161) 7,500 7,161Insurance & Bonds 5900-46-064 0 0 545 500 45 500 (45) Total Expenses 8,529 9,491 17,004 19,001 (1,997) 112,267 95,263

Net Income (8,529) (9,491) (17,004) (19,001) 1,997 (111,267) (94,263)


NORTHERN DISTRICTFor the 2 Month(s) ending 02/28/2014


Memb Mtgs/Central Wa District 4100-48-177 0 0 0 250 (250) 1,000 1,000Member Training 4100-48-189 0 0 0 0 0 600 600Golf Tournament-Central WA 4150-48-081 0 0 0 0 0 16,000 16,000 Total Revenue 0 0 0 250 (250) 17,600 17,600

Salaries 5010-48-000 6,124 6,124 12,247 12,247 0 73,482 61,235Payroll Taxes 5020-48-052 530 567 1,095 1,134 (39) 6,805 5,711Health/Security/LTD 5020-48-070 784 791 1,551 1,581 (30) 9,487 7,936Pension 5020-48-139 569 594 1,138 1,188 (50) 7,130 5,992Incentive Compensation 5010-48-058 0 0 0 0 0 4,632 4,632Auto Expense 5030-48-000 0 0 0 0 0 0 0Corporate Travel 5030-48-178 495 0 495 350 145 650 155Office Exp. 5050-48-000 118 100 241 200 41 1,425 1,184Office Equipment Maintenance 5050-48-067 0 0 0 0 0 0 0Postage - Central District 5050-48-069 18 0 66 25 41 225 159Utilities 5050-48-186 0 0 0 0 0 0 0Membership Dues 5060-48-061 650 250 1,365 1,000 365 2,350 985Subscriptions 5060-48-062 36 100 36 100 (64) 200 164Rent - C. District 5070-48-000 508 650 1,015 1,300 (285) 7,800 6,785Internet Service Provider 5084-48-000 0 100 60 200 (140) 1,200 1,140Telephone / Cable TV - Central 5086-48-000 0 100 60 200 (140) 1,200 1,140Cell Phone Exp.- Central 5087-48-000 67 70 137 140 (3) 840 703Member Training Meetings 5120-48-189 0 150 0 300 (300) 1,800 1,800HR Roundtable 5120-48-266 0 0 0 200 (200) 650 650Local Gov't Exp. 5130-48-174 73 200 73 200 (127) 1,000 927Membership Promotion 5140-48-080 219 200 479 400 79 2,400 1,921Memb mtgs/ Central WA 5140-48-177 0 0 0 850 (850) 3,300 3,300Golf Tournament - Central District 5150-48-081 81 0 81 0 81 15,000 14,919Insurance & Bonds 5900-48-064 0 0 588 600 (12) 600 12Depreciation 6950-48-000 34 34 68 68 (0) 410 342 Total Expenses 10,306 10,030 20,796 22,284 (1,489) 142,587 121,792

Net Income (10,306) (10,030) (20,796) (22,034) 1,239 (124,987) (104,192)


CENTRAL DISTRICTFor the 2 Month(s) ending 02/28/2014


LT Investment - Dividend MM 4801-90-000 437 0 2,126 0 2,126 0 (2,126)LT Investment - Bond Interest 4802-90-000 0 2,000 3,000 4,000 (1,000) 24,000 21,000LT Inv Real Gain(Loss)-Basis 4850-90-000 111,771 0 111,771 0 111,771 0 (111,771)LT Inv Unreal Gain(Loss)-Mrkt 4851-90-000 (41,817) 0 (79,071) 0 (79,071) 0 79,071 Total Revenue 70,391 2,000 37,825 4,000 33,825 24,000 (13,825)

Investment Consultant Fee 5800-90-000 0 0 2,756 0 2,756 11,000 8,244 Total Expenses 0 0 2,756 0 2,756 11,000 8,244

Net Income 70,391 2,000 35,069 4,000 31,069 13,000 (22,069)


NON-OPERATINGFor the 2 Month(s) ending 02/28/2014

Tab Six

Audited Financial Statements, Other Financial Information (Audited)

and Nonaccounting Data (Unaudited)

December 31, 2013 and 2012

ASSOCIATED GENERAL CONTRACTORS OF WASHINGTON Audited Financial Statements, Other Financial Information (Audited) and Nonaccounting Data (Unaudited) December 31, 2013 and 2012 INDEPENDENT AUDITOR’S REPORT .............................................................................. 1-2 AUDITED FINANCIAL STATEMENTS Statements of Financial Position (Balance Sheets) ........................................................... 3-4 Statements of Activities and Changes in Net Assets ............................................................5 Statements of Cash Flows ................................................................................................. 6-7 Notes to Financial Statements ......................................................................................... 8-18 OTHER FINANCIAL INFORMATION Chart I - Revenue ................................................................................................................19 Chart II - Functional Expenses ............................................................................................20 Chart III - Non-Facility Expenses .......................................................................................21 Chart IV - Expenses by Department, Net of Facility and RETRO Expenses .....................22 Graph I - Current and Debt/Equity Ratios ..........................................................................23 Graph II - Buildings and Marina Activities ........................................................................24 Graph III - Dues Revenue as a Percentage of Association Expenses .................................25 Graph IV - Six-Year Income and Cash/Investment Balances .............................................26 Graph V - Dues by Membership Type ................................................................................27 NONACCOUNTING DATA Graph A - Total Members ...................................................................................................28

AUDITED FINANCIAL STATEMENTS

The accompanying notes are an integral part of these financial statements.

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ASSOCIATED GENERAL CONTRACTORS OF WASHINGTON STATEMENTS OF FINANCIAL POSITION (BALANCE SHEETS) December 31, 2013 and 2012 2013 2012

ASSETS CURRENT ASSETS Cash and cash equivalents $ 2,598,966 $ 2,270,281 Accounts receivable 99,046 112,536 Prepaid expenses 148,797 127,689 Total Current Assets 2,846,809 2,510,506 OTHER ASSETS Investments 2,111,608 1,840,252 Group retrospective rating plan assets 16,189,775 16,634,623 Prepaid commissions expense 52,864 39,090 Deposits 3,628 3,628 Total Other Assets 18,357,875 18,517,593 PROPERTY AND EQUIPMENT Land and improvements 2,376,137 2,376,137 Buildings 12,588,366 12,505,587 Leasehold improvements 1,379,853 1,217,756 Furniture and equipment 888,756 949,926 Automobiles 46,556 49,312 Marina 1,434,317 1,337,247 18,713,985 18,435,965 Less accumulated depreciation 10,405,032 10,012,083 Total Property and Equipment 8,308,953 8,423,882 Total Assets $ 29,513,637 $ 29,451,981

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2013 2012 LIABILITIES AND NET ASSETS CURRENT LIABILITIES Current portion of long-term debt $ 75,445 $ 56,777 Current portion of leases payable 5,283 4,828 Current portion of grant payable 10,000 10,000 Accounts payable 403,545 398,312 Accrued expenses 84,407 97,473 Income tax payable 35,000 Due to related entities 30,487 30,550 Deferred income 923,433 1,052,255 Total Current Liabilities 1,532,600 1,685,195 OTHER LIABILITIES Group retrospective rating plan liability 16,189,775 16,634,623 Tenant deposits 164,811 173,831 Total Other Liabilities 16,354,586 16,808,454 LONG-TERM DEBT Notes payable, less current portion 450,133 530,795 Leases payable, net of current portion 9,941 15,157 Grant payable, less current portion 10,000 Total Long-Term Debt 460,074 555,952 Total Liabilities 18,347,260 19,049,601 NET ASSETS Unrestricted 9,066,377 8,502,380 Board-designated (Note 10) 2,100,000 1,900,000 Total Net Assets 11,166,377 10,402,380 Total Liabilities and Net Assets $ 29,513,637 $ 29,451,981


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ASSOCIATED GENERAL CONTRACTORS OF WASHINGTON STATEMENTS OF ACTIVITIES AND CHANGES IN NET ASSETS Years Ended December 31, 2013 and 2012 2013 2012 REVENUE AND SUPPORT Members’ dues $ 1,751,728 $ 1,607,411 Rents 3,591,123 3,660,132 Group retrospective rating plan 1,770,374 2,046,016 Other programs 461,067 530,032 Investment income 350,501 192,437 Other income 21,098 26,905 Total Revenue and Support 7,945,891 8,062,933 EXPENSES Program expenses: Group retrospective rating plan 1,440,789 1,440,278 Other member services 719,657 724,229 Education and training 613,772 607,374 Government and industry relations 756,879 802,085 Districts 750,717 747,293 Special projects 100,000 Total Program Expenses 4,281,814 4,421,259 Supporting expenses: Administrative and management 739,160 744,595 Facility management 2,160,920 2,221,033 Total Supporting Expenses 2,900,080 2,965,628 Total Expenses 7,181,894 7,386,887 INCREASE IN NET ASSETS BEFORE FEDERAL INCOME TAX EXPENSE 763,997 676,046 Federal Income Tax Expense 35,000 INCREASE IN NET ASSETS 763,997 641,046 NET ASSETS AT BEGINNING OF YEAR 10,402,380 9,761,334 NET ASSETS AT END OF YEAR $ 11,166,377 $ 10,402,380


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ASSOCIATED GENERAL CONTRACTORS OF WASHINGTON STATEMENTS OF CASH FLOWS Years Ended December 31, 2013 and 2012 2013 2012 CASH FLOWS FROM OPERATING ACTIVITIES Increase in net assets $ 763,997 $ 641,046 Adjustments to reconcile increase in net assets to net cash provided by operating activities: Unrealized gain on investments (303,050) (162,147) Depreciation 584,586 596,494 Loss on disposition of property and equipment 6,449 Changes in: Accounts receivable and deposits 13,490 12,756 Prepaid expenses, including commissions (34,882) 71,512 Accounts payable 5,233 (335,550) Accrued expenses (13,066) 1,755 Grants payable (10,000) (10,000) Income tax payable (35,000) 35,000 Due to related entities (63) (498) Deferred income and tenant deposits (137,842) 18,469 Net Cash Provided by Operating Activities 839,852 868,837 CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from sale of property and equipment 2,000 Purchase of investments (87,417) (168,784) Proceeds from maturity of investments 119,111 183,697 Purchase of property and equipment (478,106) (619,581) Net Cash Used by Investing Activities (444,412) (604,668) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from refinance of long-term debt (see Note 8) 6,475 Principal payments on long-term debt (68,469) (52,126) Principal payments on capital leases (4,761) (4,241) Net Cash Used by Financing Activities (66,755) (56,367) NET INCREASE IN CASH AND CASH EQUIVALENTS 328,685 207,802 CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 2,270,281 2,062,479 CASH AND CASH EQUIVALENTS AT END OF YEAR $ 2,598,966 $ 2,270,281


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ASSOCIATED GENERAL CONTRACTORS OF WASHINGTON STATEMENTS OF CASH FLOWS (Continued) Years Ended December 31, 2013 and 2012 2013 2012 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION Cash paid for interest $ 28,108 $ 47,420 Cash paid for income taxes (see Note 1) $ 35,000 NONCASH INVESTING AND FINANCING ACTIVITIES Purchase of copier under capital lease agreement $ 5,758

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ASSOCIATED GENERAL CONTRACTORS OF WASHINGTON NOTES TO FINANCIAL STATEMENTS December 31, 2013 and 2012 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Activities Associated General Contractors of Washington (the Association) is a not-for-profit organization formed to promote the commerce, safety, and education of its membership. The Association’s main office is located in Seattle, Washington, with branch offices throughout the State. Basis of Presentation The financial statements are presented in accordance with the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) industry topic applicable to Not-for-Profit Entities. In accordance with the FASB ASC topic, the Association reports information regarding its financial position and activities according to three classes of net assets: unrestricted net assets, temporarily restricted net assets, and permanently restricted net assets.

Unrestricted Net Assets Unrestricted net assets are from revenue sources that do not contain time or purpose donor-imposed stipulations for their use. Board-designations for future spending reserves are also classified as unrestricted. Temporarily Restricted Net Assets Temporarily restricted net assets are from revenue sources which are subject to stipulations that may or will be met either by actions of the Association or the passage of time. The Association had no donor-restricted net assets at December 31, 2013 and 2012. Permanently Restricted Net Assets Permanently restricted net assets are from revenue sources which are subject to stipulations that they be maintained permanently by the Association. As of December 31, 2013 and 2012, the Association has no permanently restricted net assets.

Cash and Cash Equivalents For purposes of the statement of cash flows, the Association considers all financial instruments with an original maturity of three months at the date of acquisition or less to be cash equivalents. Accounts Receivable Accounts receivable are stated at the net realizable value. No allowance for doubtful accounts has been provided as management believes that essentially all receivables are collectible. If balances are uncollectible after management has made reasonable collection efforts, the amount is charged to bad debt expense in the period when the determination is made. Generally, the Association does not accrue interest charges on past due receivables.

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ASSOCIATED GENERAL CONTRACTORS OF WASHINGTON NOTES TO FINANCIAL STATEMENTS December 31, 2013 and 2012 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Revenue Recognition Income from membership dues, rent and annual meeting reservations and sponsorships are recorded as deferred and recognized over the periods to which the dues, rents and reservations relate. Prepaid Commissions Lease commissions and other direct costs of obtaining tenant leases are capitalized and amortized in proportion to the rental income recognized on the related leases. Total prepaid commissions are $112,864 and $96,090 at December 31, 2013 and 2012, respectively. The current portion of $60,000 and $57,000 is included in prepaid expenses in the accompanying financial statements for the years then ended, respectively. Property and Equipment Property and equipment are stated at cost and are depreciated over the estimated useful lives of the assets using the straight-line and accelerated methods of depreciation. Leasehold improvement costs are depreciated on a straight-line basis over the life of the respective lease. Depreciation is provided over the following lives: Land and improvements 15 Buildings 15-39 Furniture and equipment 3-10 Automobiles 5-7 Marina 10-15 Depreciation expense for the years ended December 31, 2013 and 2012 was $584,586 and $596,494, respectively. Advertising The Association expenses advertising costs as they are incurred. Advertising costs totaled $40,190 and $38,732 for the years ended December 31, 2013 and 2012, respectively. Federal Income Taxes The Association is exempt from federal income taxes under Section 501(c)(6) of the Internal Revenue Code (IRC). The Association is required to pay federal income taxes on unrelated business income resulting from advertising revenues and debt-financed rental property. There was no federal income tax expense on unrelated business income for 2013 or 2012. As of December 31, 2013, the Association has approximately $260,000 in operating losses which begin to expire in 2021. A valuation allowance has been applied against the net operating loss (NOL) carry forward, which reduces the deferred income tax asset to zero. The valuation allowance is based on management's best estimate of the amount of the NOL that will be realized based on current and projected advertising and debt-financed rental income activities that comprise substantially all of the unrelated business income and NOL.

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ASSOCIATED GENERAL CONTRACTORS OF WASHINGTON NOTES TO FINANCIAL STATEMENTS December 31, 2013 and 2012 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Federal Income Taxes (Continued) The Association reports its federal income taxes using FASB ASC topic for Income Taxes. In evaluating the Association’s tax provisions and accruals, future taxable income and the reversal of temporary differences, interpretations and tax planning strategies are considered. The Association believes their estimates are appropriate based on current facts and circumstances. The Internal Revenue Service (IRS) generally has three years from the date the return is filed to examine and assess additional tax. The Association has filed its federal tax returns timely with the IRS. During 2012, the Association contributed funds to a political campaign and, accordingly, filed an 1120-POL return for 2012. The tax due in connection with this one-time contribution was $35,000 and is classified as income tax payable in the accompanying financial statements at December 31, 2012. There were no such transactions during the year ended December 31, 2013. The Association’s accounting policy for tax-related penalties and interest is to classify those items as federal income tax penalty and interest expense, respectively. No amounts were incurred during 2013 or 2012 for interest and penalties. Concentration of Credit Risk At December 31, 2013 and 2012, there were cash and cash equivalents in excess of federally insured limits. The Association also has certain investments which are not federally insured. The Board has an investment policy that provides guidelines to minimize the Association’s risk of loss from such investments. Investment Policy The Association’s primary investment objective is the preservation of capital to ensure that sufficient funds are available to meet current and future operations, contingency and growth needs. The policy contains guidelines for the type of financial instrument in which Association funds may be invested. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities, at the date of the financial statements. Estimates also affect the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Subsequent Events The subsequent events have been reviewed through March 14, 2014, which is the date that the report was available to be issued. Management did not identify any issues which would be required to be disclosed or recorded in the financial statements at December 31, 2013.

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ASSOCIATED GENERAL CONTRACTORS OF WASHINGTON NOTES TO FINANCIAL STATEMENTS December 31, 2013 and 2012 NOTE 2 - GROUP RETROSPECTIVE RATING PROGRAM The Association sponsors a group of members that participates in a special program offered by the Washington State Department of Labor and Industries (the Department) for trade association members. Members that apply for participation and are accepted into the group combine their premiums and claim costs. The group premium is compared annually with developed claim costs by the Department and the group receives a refund or penalty based on actual experience. To date, there have been no penalties assessed. The group refunds are reduced by the costs of administering the group and then the Association receives a sponsorship fee equal to 5% of the net refund. The Association sponsorship fees, net of expenses, were $329,584 and $605,738 for 2013 and 2012, respectively. Refunds are not fully distributed to participating members until the final annual adjustment is completed by the Department. Refunds held in trust prior to distribution to participating members are reflected as Group retrospective rating plan assets on the balance sheets and were invested as follows at December 31: 2013 2012 Checking and savings accounts $ 555,977 $ 89,098 Money market funds 883,418 1,472,022 CDs and bankers acceptance investments 2,795,968 Government obligations 11,954,412 15,073,503 $ 16,189,775 $ 16,634,623 NOTE 3 - RENTAL INCOME The Association leases property to various tenants under terms of non-cancelable operating leases. Property leased includes buildings, docks and tenant improvements with a cost of $16,557,888 and a net book value $6,649,310 at December 31, 2013. Minimum future lease income is as follows: Years Ended December 31, 2014 $ 2,612,421 2015 2,179,048 2016 1,663,698 2017 1,466,336 2018 829,604 Thereafter 399,984 Total Minimum Future Lease Income $ 9,151,091

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ASSOCIATED GENERAL CONTRACTORS OF WASHINGTON NOTES TO FINANCIAL STATEMENTS December 31, 2013 and 2012 NOTE 4 - FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS The Association uses the FASB ASC topic for Fair Value Measurements, which establishes a fair value hierarchy for reporting that prioritizes the inputs to valuation techniques used to measure fair value. This hierarchy consists of three broad levels: Level 1 inputs consists of unadjusted quoted prices in active markets for identical assets and have the highest priority; Level 2 inputs consists of observable units other than quoted prices for identical assets; and Level 3 inputs have the lowest priority. There were no Level 2 or Level 3 inputs applied to the Association’s investments. The Association uses appropriate valuation techniques based on the available inputs to measure the fair value of its investments. When available, the Association measures fair value using Level 1 inputs because they generally provide the most reliable evidence of fair value. Level 1 Fair Value Measurements The fair value of the investment account is based on quoted values of the securities held at year-end. These funds are classified within Level 1 of the valuation hierarchy. Fair value of assets measured on a recurring basis at December 31, 2013 is as follows: Active Markets Fair Market for Identical Value Assets (Level 1) Equity securities $ 1,166,151 $ 1,166,151 Government backed securities 714,763 714,763 Other equity securities 230,694 230,694 Total $ 2,111,608 $ 2,111,608 Fair value of assets measured on a recurring basis at December 31, 2012 is as follows: Active Markets Fair Market for Identical Value Assets (Level 1) Equity securities $ 590,072 $ 590,072 Government backed securities 724,727 724,727 Other equity securities 525,453 525,453 Total $ 1,840,252 $ 1,840,252

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ASSOCIATED GENERAL CONTRACTORS OF WASHINGTON NOTES TO FINANCIAL STATEMENTS December 31, 2013 and 2012 NOTE 4 - FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS (Continued) Level 1 Fair Value Measurements (Continued) A reconciliation of the investment account at December 31 is as follows:

2013 2012 Beginning balance $ 1,840,252 $ 1,693,018 Transfer to general checking (150,000) Transfer (to) from cash equivalent 70,855 (45,203) Interest and dividends 28,444 31,102 Realized gain 29,525 8,729 Unrealized gain 303,050 162,147 Investment fees (10,518) (9,541) Ending Balance $ 2,111,608 $ 1,840,252

Financial Instruments The Association’s financial instruments at year end consist of cash and cash equivalents, accounts receivable and accounts payable. The recorded values of these instruments approximate the fair value based on their short-term nature. The recorded value of investments and long-term debt approximates its fair value, as the unrealized gain (loss) or accrued interest approximates the adjustment necessary to reflect the market value. NOTE 5 - INVESTMENT INCOME AND GAINS Investment income and gains from these investments is summarized as follows: 2013 2012 Interest and dividends $ 28,444 $ 31,102 Net realized gain 29,525 8,729 Net unrealized gain 303,050 162,147 Investment fees (10,518) (9,541) $ 350,501 $ 192,437

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ASSOCIATED GENERAL CONTRACTORS OF WASHINGTON NOTES FINANCIAL STATEMENTS December 31, 2013 and 2012 NOTE 6 - LEASE COMMITMENTS Operating Leases The Association leases aquatic lands, office space and equipment under various operating leases with terms ending 2014 through 2018. The related future minimum lease payments are as follows: Years Ended December 31, 2014 $ 101,500 2015 100,500 2016 50,500 2017 41,500 2018 27,760 Total Minimum Future Lease Payments $ 321,760 Rent expense incurred under these leases during the years ended December 31, 2013 and 2012 was $140,988 and $141,796, respectively. Capital Leases The Association entered into a new lease agreement during 2011 for a copier with monthly payments approximating $410, including interest at 19.11%, commencing January 2011 through April 2016. The capitalized cost is $21,729 and accumulated amortization is $12,072 and $7,933 at December 31, 2013 and 2012, respectively. The Association entered into a new lease agreement during 2012 for a copier with monthly payments approximating $150, including interest at 20.48%, commencing May 2012 through August 2017. The capitalized cost is $5,758 and accumulated amortization is $1,736 and $640 at December 31, 2013 and 2012, respectively. The related future minimum lease payments are as follows: Years Ended December 31, 2014 $ 6,720 2015 6,720 2016 3,030 2017 1,200 17,670 Less amount representing interest (2,446) Total Minimum Future Lease Payments $ 15,224

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ASSOCIATED GENERAL CONTRACTORS OF WASHINGTON NOTES TO FINANCIAL STATEMENTS December 31, 2013 and 2012 NOTE 6 - LEASE COMMITMENTS (Continued) Capital Leases (Continued) The current portion of capital leases payable is $5,283 and $4,828 at December 31, 2013 and 2012, net of interest portion, respectively. NOTE 7 - EMPLOYEE BENEFIT PLANS Effective May 31, 2012, the Association elected to restate their defined contribution and profit sharing plan. This restatement included adopting the provisions contained in the Northwest AGC Chapters Retirement Plan document, which operates as a multiple employer pension plan. The principal plan sponsor is the Oregon-Columbia Chapter AGC. As an adopting employer, the Association is a plan co-sponsor and relies upon the principal plan sponsor for pension plan administration and asset oversight. Eligible employees are those individuals who have worked 1,000 hours and have also attained age 18. The Association matches employee contributions with a 50% contribution, up to 2.5% of the employee’s eligible wages. The Association may also elect to make a discretionary contribution to the Profit Sharing Plan. Association contributions charged to expense under this plan totals $181,442 and $182,617 for the years ended December 31, 2013 and 2012, respectively. The principal plan sponsor allocates a portion of plan administrative costs to AGC, who pays substantially all allocated costs attributable to Association employees. NOTE 8 - LONG-TERM DEBT Long-term debt at December 31 is summarized as follows: 2013 2012

Note payable to Banner Bank, 7% per annum, monthly installments of $6,838 including interest, due January 19, 2021. Refinanced in 2013. $ 501,731

Note payable to Banner Bank, 7% per annum,

monthly installments of $1,170 including interest, due January 19, 2021. Refinanced in 2013. 85,841

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ASSOCIATED GENERAL CONTRACTORS OF WASHINGTON NOTES TO FINANCIAL STATEMENTS December 31, 2013 and 2012 NOTE 8 - LONG-TERM DEBT (Continued) 2013 2012

Note payable to Union Bank, 3.91% per annum,

monthly installments of $7,919 including interest, due April 2020. Secured by real property. $ 525,578

525,578 $ 587,572 Less current portion of long-term debt (75,445) (56,777)

Total Long-term Debt $ 450,133 $ 530,795 Annual maturities of long-term debt are as follows: December 31, 2014 $ 75,445 2015 78,588 2016 81,716 2017 84,969 2018 88,352 Thereafter 116,508 $ 525,578 At December 31, 2013 and 2012, the Association was in compliance with its loan covenants. The interest paid on the above notes was $27,239 and $46,370 for the years ended December 31, 2013 and 2012, respectively. NOTE 9 - GRANT PAYABLE During the year ended December 31, 2010, the Association pledged $50,000 to Central Washington University. Under generally accepted accounting principles, grants which are payable over more than one year are recognized at fair value using present value methods at the time the grants are made.

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ASSOCIATED GENERAL CONTRACTORS OF WASHINGTON NOTES TO FINANCIAL STATEMENTS December 31, 2013 and 2012 NOTE 9 - GRANT PAYABLE (Continued) Management believes that the amount recorded in the accompanying financial statements approximates the fair value of grants payable at December 31, 2013 and 2012. 2013 2012

Grant payable to Central Washington University, annual payments of $10,000, due 12/31/2014. $ 10,000 $ 20,000

Less current portion of grant payable (10,000) (10,000)

Total Long-term Grant Payable $ $ 10,000

Grant payable at December 31, 2013, is classified as current in the accompanying financial statements. NOTE 10 - BOARD-DESIGNATED NET ASSETS The board has a policy which provides for reserve funds to be set aside as board-designated, unrestricted net assets in the following broad categories: Operating Reserve: to protect against unforeseen economic emergencies with

respect to Association operations; Plant and Equipment Reserve: to provide adequate resources to maintain real

property assets and replace and maintain essential equipment; Special Project Reserve: to provide financial support for special issues that are

beyond the scope of the annual operating budget.

Annually, the reserve is revalued to represent a minimum of 30% of the Association’s annual budgeted revenue. The reserve funds are adjusted amongst the categories based upon the expected future needs, and upon certain reserve targets contained within the policy. When an authorized expenditure is drawn against one of the funds, the policy requires that an approved plan must be in place to replenish the amount expended from the fund. The board designated net assets consist of the following at December 31, 2013 and 2012: 2013 2012 Operating reserve $ 410,000 $ 410,000 Plant and equipment reserve 1,590,000 1,390,000 Special project reserve 100,000 100,000 Total Board-Designated Net Assets $ 2,100,000 $ 1,900,000

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ASSOCIATED GENERAL CONTRACTORS OF WASHINGTON NOTES TO FINANCIAL STATEMENTS December 31, 2013 and 2012 NOTE 11 - PARTNERSHIP WITH OTHER ORGANIZATION The AGC Education Foundation (the Foundation) was formed by current and former members of AGC of Washington and the two organizations maintain a close working relationship. However, the Foundation operates as a separate not-for-profit organization with its own board of directors and employees. The Foundation is the primary resource for education programs for AGC. The Association provides a $25 continuing education scholarship to its members for attending a class instructed by AGC Education Foundation. The education assistance paid on behalf of members was $19,875 and $22,525 for the years ended December 31, 2013 and 2012, respectively. The Association provides the Foundation with cash contributions which totaled $126,500 for the years ended December 31, 2013 and 2012. The Association provides space in its Seattle office building to the Foundation at no charge. The value of this space for 2013 and 2012 approximates $38,000 to $41,000 and has not been included in the accompanying financial statements based on the FASB ASC topic for not-for-profit entities. The Association also provides the Foundation with administrative and accounting support and services and allocates a portion of staff salaries to education training. The value of those services was $27,626 and $26,535 for the years ended December 31, 2013 and 2012, respectively.

OTHER FINANCIAL INFORMATION (AUDITED)

Associated General Contractors of WashingtonChart I - Revenue

22%

28%

5%

45%

Revenue - 2013

Member Dues Programs & Field Days Investments & Other Rents

20%

32%

3%

45%

Revenue - 2012

Member Dues Programs & Field Days Investments & Other Rents

-19-

Associated General Contractors of WashingtonChart II - Functional Expenses

60%

10%

30%

Functional Expenses - 2013

Member Programs

Administrative and management

Facility Management

60%

10%

30%

Functional Expenses - 2012

Member Programs

Administrative and management

Facility Management

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Associated General Contractors of WashingtonChart III - Non-Facility Expenses

85%

15%

Non-Facility Expenses - 2013

Member Programs Administration & Management

86%

14%

Non-Facility Expenses - 2012

Member Programs Administration & Management

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- 22-

Board of Trustees1.7%

Tech2.7%

Administration9.1%

Accounting7.2%

Communications7.2%

Meetings & Events1.5%

Special Events5.1%

Member Service5.3%

FLF0.4%

Workforce Development (AGCEF )

5.0%

Safety12.7%

GAC15.0%

Federal Facilities0.2%

Labor5.6%

Open Shop0.4%

Seattle Dist.6.3%

Southern Dist.7.5%

Northern Dist.3.1%

Central Dist.4.2%

Associated General Contractors of WashingtonChart IV ‐ Expenses by Department, Net of Facility

and RETRO Expenses

2013

2013 Association Expense = $3,580,178

Board $61KTechnology $96KAdmin $326KAccting $256KComm $256KMeet ‐ Event $52KSp Events $184KMbr Service $191KFLF $13KAGCEF $180K

Safety $454KGAC $537KFed Fac $7K Labor $202KOpen Shop $15KSea. Dist $224KS. Dist $268K N. Dist $109KC. Dist $149K

Associated General Contractors of WashingtonGraph I - Current and Debt/Equity Ratios

-23-

2.97

2.19 2.15 2.05

2.57

3.24

0.31 0.29 0.27 0.28 0.23 0.19

-0.25

0.25

0.75

1.25

1.75

2.25

2.75

3.25

2008 2009 2010 2011 2012 2013

Current Ratio = Current Assets + Investments / Current Liabilities Debt to Equity = % of Debt to Total Equity

Associated General Contractors of WashingtonGraph II - Buildings and Marina Activities

-24-

$3,751,788 $3,723,524

$3,523,174 $3,533,876 $3,660,132

$3,591,123

$1,626,920 $1,529,442

$1,289,981 $1,307,406 $1,307,406 $1,430,203

$624,030

$2,322,212

$701,576

$1,022,851

$570,537

$391,508

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

$4,000,000

2008 2009 2010 2011 2012 2013

Rents Net income Buildings and Marina Capitalized Expenditures

Associated General Contractors of WashingtonGraph III - Dues Revenue as a Percentage of Association Expenses

-25-

34.4% 34.5% 34.3% 34.7%

31.1%

34.9%

0.1

0.2

0.3

0.4

0.5

0.6

0.7

0.8

0.9

1.0

2008 2009 2010 2011 2012 2013

Ave

rage

Ret

urn

Associated General Contractors of WashingtonGraph IV - Six-Year Income and Cash/Investment Balances

-26-

2008 2009 2010 2011 2012 2013

Cash & Investments $5,486,963 $3,885,015 $3,795,900 $3,755,497 $4,110,533 $4,710,574

Operating Income Before Tax & Other $1,115,993 $55,019 $28,388 $289,513 $513,899 $460,947

Total Income After Tax & Other $611,492 $261,602 $185,615 $219,931 $641,046 $763,997

$5,486,963

$3,885,015 $3,795,900 $3,755,497

$4,110,533

$4,710,574

$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

Do

llar

s

Associated General Contractors of WashingtonGraph V - Dues by Membership Type

-27-

2008 2009 2010 2011 2012 2013

Generals $1,145,174 $1,142,625 $1,133,660 $1,095,611 $1,071,191 $1,203,477

Subs $421,931 $442,813 $405,546 $378,846 $356,717 $367,983

Associates $196,643 $190,713 $181,638 $182,946 $173,328 $173,593

Retro & Other $6,075 $5,850 $6,350 $6,250 $6,175 $6,675

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

Du

es R

even

ue Generals

Subs

Associates

Retro & Other

NONACCOUNTING DATA (UNAUDITED)

Associated General Contractors of WashingtonGraph A - Total Members

-28-

164158

167 171 169 172

156 152 149 148153 155

251

236

225 223 222217

59 5661 63 62 66

0

50

100

150

200

250

300

2008 2009 2010 2011 2012 2013

Mem

ber

s

Generals Subs Associates RETRO only

Tab Seven

Documents

BOARD OF TRUSTEES MEETING April 14, 2014 11:00 AM – …...Apr 08, 2019 · May 19 Seattle District Golf Tournament, Bear Creek Country Club June 6 Board of Trustees Retreat, 8:30