Accounting Real Estate

Lance M. Kulb, CPA

* ****** ****. **** ********, NY 11518

Cell: 516-***-**** / Email: ****@*********.***

SENIOR FINANCE EXECUTIVE

Accomplished financial management professional with 25+ years experience in

financial and accounting leadership/management positions within the

residential and commercial real estate field. Ability to evaluate and

comprehend both business and financial impacts and lead a company to

profitability. Analytical approach to identifying problem areas and

implementing corrective actions. Designed and established a functional

accounting and cash management system. Excellent communication,

organization and supervisory skills.

ACCOUNTING/AUDITING ( CRISIS MANAGEMENT ( CASH MANAGEMENT/FINANCIAL

ANALYSIS

INTERNAL CONTROLS ( CORPORATE POLICY DEVELOPMENT ( BUDGET MANAGEMENT

FINANCIAL CONTROLS ( PROBLEM RESOLUTION ( NEGOTIATION ( STAFF

TRAINING

SELECTED ACCOMPLISHMENTS

. Implemented a software based accounting system with accompanying

policies, protocols and procedures.

. Designed accrual basis accounting system and corresponding work papers

and coordinated conversion of accounting reporting from cash basis for 9

commercial partnerships.

. Reviewed closing statements and assisted in the preparation of post-

closing adjustments for the acquisition of 3 regional shopping centers

and the sale of 4 regional shopping centers.

. Provided on-site assistance in the preparation of due diligence report

for the acquisition of 1 million sq. ft. regional shopping center and

office tower.

. Established cost cutting and time saving procedures that enhanced the

company's bottom line.

PROFESSIONAL EXPERIENCE

THE HUDSON COMPANIES - New York, NY 1998-Present

Controller

Direct all accounting and payroll functions within real estate development

firm. Projects include 4 entities that develop workforce and affordable

housing, 9-building development on NYC's Roosevelt Island, and 3 mixed

income rental projects in Brooklyn. Prepare schedules for tax returns,

maintain partner's loan and inter-company schedules, interface with outside

development partners, maintain banking relationships and oversee all

reporting for firm's 50+ entities. Enhanced accounting/reporting system as

company changed from developer of affordable row houses into lead player

within Manhattan and Brooklyn condominium and rental markets. Work closely

with project managers in preparing monthly construction loan requisitions.

Perform upgrades and daily maintenance on Yardi accounting software and

backup servers.

. Reduced manual recording of cash transfers and deposits/payables by

implementing accounting and cash management system, including cash book.

. Identified lack of coordinated policies/procedures upon hire; set up

monthly reports, controlled access to system, and ensured proper

recording of requisitions, payroll, and bank statement reconciliations.

. Review all general, workers compensation, disability and builders risk

insurance policies; successfully waged cost reduction campaign to

decrease overall expense.

. Performed due diligence on miscellaneous loans and receivables to ensure

proper billing/collection on all charges, bringing non-performing loan to

100% payoff.

. Established reporting and tracking system for the sale of new homes and

condominiums. Established cash transfer system from parent to related

entities, leading to quick repayment of all loans.

. Performed accounting work in-house to decrease payments to external

auditors. Strengthened and solidified banking and vendor relationships.

Continued

Lance M. Kulb, CPA - Page 2

SHOPCO MANAGEMENT - New York, NY 1986-1998

Assistant Controller

Oversaw monthly cash flow, quarterly accrual statements, annual budgets and

projections for real estate management firm with $80M in annual revenues.

In charge of income billing/expense recoveries including $24M in expenses

and $3.5M in percentage rent. Managed general accounting operations

including accounts payables of $5.5M monthly. Negotiated tenant payment

schedules and audits of escalation billings. Plan and schedule year end

audits and budget reviews. Served as liaison with investment partners;

supervised accounting department staff of 7.

. Established budget reporting system, designed budget worksheets and

directed conversion of budgetary process to Lotus program. Established an

inter-company wire transfer network.

. Uncovered errors on due diligence work which enabled partnership to

reduce its bid by $200,000. Spearheaded successful downsizing of

accounting department and realignment of individual responsibilities

. Implemented annual review of fixed rents, budget worksheet, formats and

techniques; trained team in proper review and completion of projects.

PEMBROOK MANAGEMENT/CORPORATE PROPERTY INVESTORS - New York, NY 1979-

1986

Senior Accountant

Prepared monthly and quarterly financial statements and cash flow analyses

for $2B commercial real estate investment firm. Responsible for budget

review and preparation, budget variance analysis, 5 and 10 year

projections, income/expense variance analysis, and workpaper reviews.

Supervised monthly billings, agings and tenant status reports. As 2nd in

charge of financial statement preparation department, supervised six

accountants.

. Assisted in converting acquisitions to in-house system and changed

billings to R.E.I.T.'s advantage. Implemented utility increase billing

schedules.

CHEMLEASE - New York, NY 1978-1979

Staff Accountant

Prepared monthly financial statements and consolidated statements for 5

leasing groups as part of $1B large equipment leasing division of Chemical

Bank. Provided account and tax analysis; compiled special reports.

EDUCATION

MBA in Accounting and Taxation

ST. JOHN'S UNIVERSITY - Graduate School of Business

BA in Political Science/American History

NEW YORK UNIVERSITY - Washington Square University College

Additional Professional Development Information

Certified Public Accountant; Complete 40 Hours of CPE per annum

Computer proficiency in MRI,Yardi Accounting Package, AppFolio, Excel,

Word, Lotus 1-2-3

Member, New York State Society of Certified Public Accountants

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