Thomas O Welsman Jr

***** ********

Shelby Twp. MI 48316

248-***-**** cell

acr1dx@r.postjobfree.com

Director of Finance

I’m an outstanding Director with diverse background and proven track record of success in corporate financial management. I am Director with the ability to focus on results with numerous additional projects needing attention simultaneously.

As Director of Treasury the operating revenue of Universal Truckload Services Inc. increase from $164 million in 2000 to $1.2 billion in 2014. This was done through the 22 acquisitions during this time period. I worked on all acquisitions doing the valuations; using discount cash flow. I worked with target companies (owners) to get financial and operational information, needed for the cash flow valuations. I developed personal relationship with owners of the target companies, and gave the presentation of the offers to owners or partners. I worked on site with new employees at the conversation of Western American, Noble and Pitts, Rex Transportation, Great American Line, Pacer Truckload group these were some of the larger acquisitions.

I Shorten the closing period from fifteen working days to ten working days by having all the accountants close the files on Sundays (from their homes) after the final updates on Saturday nights, this way we would have Mondays for actual work or correcting files that were out of balance if they could not be corrected by the programmers before Monday morning. We also went to a daily closing schedule and the last two entries that were recorded are the revenue accrual and payroll on the eighth working day.

I analyze the monthly and quarterly financial statement for management and went to the quarterly board meeting to assist with board questions. I was one of a team of four who review all SEC filing from 2005 until 2012. I Managed and coordinate external auditor relationship for Integrated Financial Statements Audit (including SOX 404 compliance), Assisted with Initial Public offering –February 2005 and lead the conversion of general ledger system to TMW TL2000.

Universal Truckload Services Inc. Warren MI (UTSI) 1995 to July 2015

Universal Truckload Services, Inc. is a leading asset-light provider of customized transportation and logistics solutions.

Director of Indirect taxes 2015 to July 2015

Worked with the Director of Taxes, to develop and implement indirect tax planning opportunities and risk mitigation strategies. Set up time table to get monthly and quarterly reports from other departments timely so we could file timely. IFTA, sales and use taxes worked audits reducing two Michigan audits from over $one million jeopardy assessments to one hundred thousand. Work with the Director of Taxes and business colleagues, to identify and negotiate tax credit and incentive opportunities for the company in the US and Canada. Identify, evaluate and mitigate indirect tax exposures. Fuel tax refunds in the state of North Caroline that needed detail I found the information and sent to the state for refunds over one hundred thousand that were not be done. Maintain and enhance the indirect tax processes and functions within the accounting system. Manage indirect taxes, credit and incentive compliance processes. Structure intercompany relationships and transactions. with the Direct tax

Director of Governance, Treasury & Risk Management 2012 to 2014

The company split up the VP Job after he retired

I Supervised staff of five who directly reporting to me. They were Treasury Department, Accounts Payable, Settlements departments for Owner Operators Truckload, Intermodal groups and Brokers. I was Responsible for corporate disclosure and compliance with state corporation laws, stock exchange listing standards and SEC reporting and compliance. Oversee Stockholder Relations including stock issuance and transfer operations; stockholder correspondence; review proxy statement

Treasury

I serve as main point of contact with client services at various banks regarding daily cash activities. Leaded transformation initiatives for automated cash application interface from the bank this keep are cash application staff at 6 people from 2000 to 2014. No staff was added to apply to open invoices. Served as primary system administrator for treasury related systems, all wires and ACH had to be approved by me through the bank system. I reviewed daily cash activity reports and update cash balances. I Controlled daily cash balances to insure adequate funding for all banking activity, would increase or decrease borrowing based on information I would get from all other departments. I was administration of a corporate credit card program all charges would have to come to me for approval. Analyze and approve banking fees review and compare bank rate yearly.

Manager for the following departments

Account Payables Managed staff of 10

As Account Payable Manager it was my responsibility to manage the function related to purchase ledger efficiently and to ensure that the invoices of the company were paid in time. Ensuring that the department was well-managed and all processes and functions are being run smoothly by prioritize workload of clerks and set deadlines for closings. I Review all expense reports over $1,000.00 to ensure that the backup information is presented and the appropriate mileage rates are used. I serve as the primary contact, on all audits on payable for internal and external audits.

Managed all invoice processes, receiving every invoice from vendors, and matching these to the purchases order. Coded the general ledger accounts numbers on the invoices for review by the accounting department. The department managed the month end open account payable file for accounting accrual.

The department would prepare voucher packages containing the copy of all purchase orders, along with the Matching invoices so that it can be processed accrual. We created the voucher package for review by upper management and after approval they transferred this information into EBE scanning system. Assist the accountants about any questions related to purchasing and coding general ledgers accounts numbers as needed.

Owner Operators Settlements

Managed three supervisors and staff of 20

The department duties were reviewing, auditing and processing Owner Operators settlements, ensuring documents and receipts (fuel, lumper) are complete and valid, entering settlement information into system for payment and reimbursement, verifying rates, obtaining appropriate documentation from Operations, communicating professionally with Owner Operators, reconciling advances, fuel card activity (Comdata) and surcharges (fuel) and answering Owner Operators and Operation questions regarding status of settlements. I would interface with the accounting and payroll staff as needed.

Brokerage settlements

Managed supervisor and staff to 12

The department duties include reviewing, auditing and processing Broker freight paper work before processing the settlements, ensuring documents and receipts are complete and valid, entering settlement information into system for payment, verifying rates, obtaining appropriate documentation from trucking companies, communicating professionally with trucking companies, reconciling advances, loading fuel card activity and surcharges and answering for trucking companies regarding status of payments. I supported the accounting and Owner Operators settlement department staff as needed.

Controller 1995 to 2012

Controller of Universal Truckload Services Inc. (UTSI) (Nasdaq:UACL)

As controller I responsible for all accounting and tax matters, including AP, AR, fixed assets, credit, GL, payroll, loans, business tax, property tax, franchise / income tax; federal and states responsible for cash flow; timely closing of the records and prepare financial reports for monthly and yearly. Participate in financial strategic planning, review target companies, prepare budget and forecasts.

Develop internal control system, recommend areas for improvement both financial and operational, and establish new accounting policies and procedures. Appointed corporate officer to parent and various subsidiaries of UTSI January 1996 so I could sign off on the corporate tax returns no one in corporation had any tax background.

Central Transport Inc. Warren MI 1990 to 1995

Central Transport is a Less Than Truckload (LTL) carrier operating a network of nearly 200 customer service centers across the largest 45 states and Canadian provinces.

Tax Manager

I ensure a company's annual earnings; expenditures and investments were reported with accuracy and completeness. Prepared and review tax work papers (M-1’s) for federal, state and local returns- for companies both US and Canadian. Reconcile tax data on financial statements. Manage, develop, and mentor staff/managers on projects

Plan, direct, and execute various tax projects one which was to establish all GST accounts in Canada when the Goods and services taxes started. Research and develop tax-saving strategies

File issues with the appeals offices and assisted through the appeals process at both Federal and state levels in the US and Canada

Computer skills

JD Edwards 9.0, Microsoft Great Plains 10.0 TMW Suites

Truck Mate, IES for Customhouse Brokers EBE scanning

Microsoft office (Excel, Word, PowerPoint) Turbo Tax

TMW’s TL2000- General Ledger, Account Payable, Dispatch, Settlement, Rating, and Billing

Education:

I Passed Michigan CPA exam.

Andrews University Berrien Springs MI

Bachelors of Science in Business Major: Accounting

Schoolcraft College Livonia MI

Associated in Science Major: Accounting

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