Chief Financial Officer
Resume:
Ann M. Hartman, C.P.A.
acvh4a@r.postjobfree.com
Chief Financial Officer O2 Specialty Manufacturing, LLC.
Experience 6/2014 – Present Private Equity Holding Company
Manage finance, insurance, taxes; benefit program design and treasury for portfolio companies with ~ $25m in sales that were acquired in 2012 and 2014.
Prepare board presentations and present at financial review meetings.
Establish common reporting structure across companies so that data from 2 separate financial systems can be consolidated to provide consistently reported results.
Develop zero based budgeting process to forecast results, beginning with a detailed sales forecast that is used to estimate costs necessary to manufacture the product and all other costs to run the business.
Forecast balance sheet and cash flow based on actual results as the year progresses.
Guided newly acquired company through the completion of Epicor E-9 financial module implementation which had languished for over a year by creating implementation structure; timeline; tasks; and team lead meetings; and by coaching the Project Manager through the steps.
Manage collateral, covenant and financial reporting to bank.
Utilized loan agreements and purchase documents to establish opening balance sheet for acquired company, the working capital adjustment and the earn out for seller note.
Coordinate and ensure completion of external audits (bank and outside CPA firm) and tax returns.
Established outsourced payroll processing for newly acquired company and worked through filing issues with Federal and State governments. Successfully obtained waivers for over $300,000 in penalties and interest.
Controller EQ - The Environmental Quality Company
2/2004 – 6/2014 8th largest industrial waste management Co in US
Started with EQ as Controller for the acquired USL Detroit facility, relocated to corporate office and continued to absorb responsibility for additional facilities as well as corporate responsibilities.
Managed financial reporting, annual budget, variance analysis and margin review for 4 waste handling facilities with $60 million in combined annual revenue.
Developed due diligence audit programs and participated in due diligence of acquisition targets.
Prepared opening balance (including intangible and fixed asset valuations) and working capital adjustment for newly acquired companies.
Developed excel tool to calculate the reserve needed for closure and post closure bonding for TSDF locations.
Recruit, train and supervise remote Accounting Manager responsible for 3 facilities with combined annual revenue ~$45 million.
Supervised General Accountant and Corporate Accounts Payable functions.
Coach General Managers to help them understand how to use financial data to improve business results and identify areas and causes for marginal results.
As a business advisor, performed customer contract review, identified business segments with poor results, and proved that without better pricing, underperforming contracts must be eliminated to increase overall results. Result was full cost elimination and overall improvement to the bottom line.
Developed Return on Investment model used throughout the organization to assess the merits of projects > $50,000, and establish discipline in determining which projects to approve and which to reject.
Standardized reporting across 15 legal entities via a chart of accounts redesign and financial statement reorganization; creating consistently derived gross margin and operating margin for use as a benchmarking and measurement tool.
Centralized the reconciliation of bank accounts and inter-company accounts across 15 separate legal entities to strengthen internal controls, and improve reporting consistency and accuracy.
Automated the integration of payroll data from external payroll company to financial system to save hours of manual summarization and data entry required to record payroll cost for 15 separate legal entities.
Developed an expertise in natural gas futures market and assumed responsibility for purchasing natural gas to fuel 3 Michigan facilities, which required the balancing of the production schedule with DTE storage, injection and withdrawal limitations.
Led a team of cross functional users in the review and selection of JD Edwards EnterpriseOne financial software, and became the Project Manager for the implementation.
Ann M. Hartman, C.P.A. acvh4a@r.postjobfree.com
Controller US Liquids of Detroit
2/2003 – 2/2004 Publicly traded waste treatment facility
$14m facility which was acquired by EQ in February, 2004.
Established discipline to record costs in the proper period by setting up a purchase order process; identifying standard monthly expenses list; and proper waste and chemical inventory tracking and valuation.
Identified and corrected many situations where goods or services were being charged but not provided.
Created discipline in the organization to collect past due money before allowing continuation of service.
Result:
DSO improvement from 60 days to 44 days
Reduced past due AR from 30% over 60 days to 13% over 60 days in 6-month time frame
Audited Kalkaska location and uncovered $2 million misstatement in financials.
Balanced precarious cash flow situation by staving off vendor payments and improving customer payments.
Controller Flat Rock Metal, Inc.
1/2000 – 2/2003 Steel slitting, blanking and polishing company
Hired as Controller to manage Accounting, Accounts Payable, Invoicing, Payroll functions for flagship Company headquartered in Flat Rock, Michigan.
Assumed responsibilities of Controller for Bar Processing (purchased Company with 5 facilities performing toll processing of bar steel) upon the departure of the Bar Processing Controller.
Assumed responsibilities for financial reporting, banking, legal, and audit after the departure of the CFO.
Cash management included 2 lines of credit (Operating Line for the day to day activity and Construction Line used to finance 2 green field start-up facilities).
Managed debt covenant reporting and negotiated waivers when necessary.
Designed and implemented accounting system for 2 newly constructed facilities including the integration of revenue data from home grown steel tracking system.
Converted purchased facility from Peachtree software to Great Plains software and absorbed responsibilities of 2 positions into existing headcount, saving over $150,000 annually.
Converted payroll from ADP to PaySystems and moved salaried employees to bi-weekly payroll which resulted in $30,000 cost savings annually.
Controller Painters Supply & Equipment, Co.
7/1998 – 1/2000 Family Owned distributor of PPG paints
Significant accomplishment was the research, purchase, and implementation of a fully integrated point of sale software system, eliminating the need to manually feed operating data to the financial system.
Worked with the developer of the software to improve features of the financial program to further streamline its functionality. (Note: These were hard coded improvements deployed to all their customers).
Managed accounting department staff of 6 – 7.
Controller Alliant Foodservice, Inc (formerly Kraft Foods)
12/1993 – 7/1998 National distributor of food products for restaurant industry
Began as Accounting Manager in 1993 responsible for month end close, supervision of Accounts Payable, and COD cash management function.
District grew from $65k to $100k organically, and then to $165k through acquisition.
Promoted to Controller in July 1996, expanding job duties to district IT liaison, strategic planning, budgeting and supervision of: Credit and Collections, Payroll and Margin Analysis groups.
Absorbed responsibility for converting data, accounting processes and budgeting of acquired facility (Leone Foodservice) in 1997.
Prepared rate of return analysis to justify constructing $25 million facility to house AFS & Leone under one roof, eliminating duplicate overhead costs as well as providing single centralized distribution point.
Education: Bachelor of Science in Administration Major: Professional Accounting
University of Michigan – Dearborn Graduated With Distinction
Certification: Certified Public Accountant – State of Michigan Registered Status
Activity: Board of Directors Good Shepherd Credit Union
1993 – 2015
Offices Held: Chairman, Vice Chairman
Committee (Member and Chair): Salary and Wage, Union Negotiations, New Building, Merger
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