Management Professional Experience

William G. Schmidt, MBA, CPA

*************@*****.***

Carlsbad, CA 92010 760-***-**** http://www.linkedin.com/in/billschmidt1

CHIEF FINANCIAL OFFICER

Qualifications

•Strategic Vision, Planning and Execution

•Communications

•Talent Development/Employee Engagement/Succession Planning

•Leadership

•Board of Directors Relations

•Budgeting/Forecasting/Rate Design

•Financial Analysis

•Cost Reductions/Process Improvements

•Turnarounds/Start-ups

•Government Relations

•Engineering and Operations

•Power Supply

•Supply Chain Management

•Audit and Risk Management

•Internal Controls and Sarbanes-Oxley Act

•Customer Satisfaction and Engagement

•Human Resource Administration

•Oracle-based Integrated Computer Software Applications and Conversions

•Project Management

•Strategic Partnerships/Alliances

•Financial Reporting/Planning/Modeling/Analysis

•Mergers and Acquisitions

CAREER HIGHLIGHTS

JUMP RIVER ELECTRIC COOPERATIVE, INC. – Ladysmith, WI (www.jrec.net)

(Public utility with distribution assets and operating revenues in excess of $37 million and $14 million, respectively)

INTERIM CHIEF EXECUTIVE OFFICER, January 2016 to current

POLK-BURNETT ELECTRIC COOPERATIVE, INC. – Centuria, WI (www.polkburnett.com)

(Public utility with distribution assets and operating revenues in excess of $86 million and $38 million, respectively)

CHIEF EXECUTIVE OFFICER, January 2009 to June 2015

Key Accomplishments:

•Decreased energy rates by 10% in June 2013.

•No rate increase since 2010 (and current energy rates are below competing investor-owned utilities).

•Improved equity ratio (as a % of assets) and equity dollars by 14% and $18 million, respectively, since 2009.

•Reduced long-term debt by $1 million since 2009 while adding over $16 million in system capital improvements.

•Maintained reliability indices in the top 25th quartile of industry.

•Improved customer satisfaction (ACSI) and employee engagements scores.

•Realized significant operating efficiencies and enhancements with technology improvements, including BIS/GIS, GIS/OMS (with Milsoft outage viewer on website), IVR, system-wide two-way metering/AMI conversion, and AVL.

•Implemented SmartHub consumer web portal, Meter Data Management (MDM), PrePay Your Way payment option with remote connect/disconnect, Call to Order board of director I-Pad app and social media.

•Developed and executed corporate strategic initiatives in conjunction with the Board of Directors and senior management.

•Promoted and implemented Touchstone Energy’s Strategy Execution System at Polk-Burnett, across Wisconsin and nation. Polk-Burnett piloted Strategy Execution management software in 2014.

•Implemented Proactive Performance Coaching program.

BEAUREGARD ELECTRIC COOPERATIVE, INC. – DeRidder LA (www.beci.org)

(Public utility with transmission and distribution assets and operating revenues in excess of $135 million and $81 million, respectively)

CHIEF EXECUTIVE OFFICER, January 2006 to January 2009

Key Accomplishments:

•Increased company annual kwh sales by 25% (or 190 million kwh) over 3-year period.

•Increased equity (as a % of assets) ratio and equity dollars by 5.28% and $7.9 million, respectively.

•Managed the engineering and construction of a multi-million project that will increase company’s operating margins by $7 million over 10 years.

•Monitored and evaluated the results of a cost-of-service study and designed rate structure that was competitive with large neighboring investor-owned utility.

•Developed and executed corporate strategic objectives in conjunction with the Board of Directors and senior management.

KAUAI ISLAND UTILITY COOPERATIVE – Kauai Island, HI (www.kiuc.coop)

(Start-up, public utility with generation, transmission and distribution assets and operating revenues in excess of $300 million and $160 million, respectively)

CHIEF FINANCIAL OFFICER, September 2003 to January 2006

Key Accomplishments:

•Contributed in transforming KIUC into the first electric cooperative in State of Hawaii (previously an IOU).

•No rate increase during my tenure.

•Negotiated the purchase and financing of a $50 million generating facility that improved generating efficiency and increased operating margins by $3 million annually.

•Monitored, evaluated and implemented the results of depreciation and cost-of-service studies that increased net income by $1 million annually.

•Prepared Equity Management Plan (financial forecast) and annual budgets designed to increase equity from 0% to 25% in 10 years.

•Achieved equity ratio of 10.83% and accumulated $32 million in equity (undistributed net margins) without a rate increase within 3 years.

•Provided over $23 million to customer-owners in direct (refunds) and/or indirect benefits (efficiency savings).

•Developed and executed corporate strategic initiatives in conjunction with the Board of Directors and senior management.

•KIUC recognized by Solar Electric Power Association (SEPA) as the #1 public utility for total solar electric capacity per customer.

VOLUNTEER ENERGY COOPERATIVE – Decatur, TN (www.vec.org)

(Public utility with transmission and distribution assets and operating revenues in excess of $300 million, and $245 million, respectively).

CHIEF FINANCIAL OFFICER, April 1997 to September 2003

Key Accomplishments:

•Prepared and negotiated the financing of a $54 million transmission and distribution facility loan package.

•Analyzed, initiated, negotiated and monitored the start-up operations of four new business ventures (propane, natural gas, fiber optic and internet services).

•Initiated a non-profit subsidiary that has contributed $5 million to local charities since 2001.

•Maintained equity (as of % of assets) ratio and equity dollars of 65% and $178 million.

•Volunteer Energy was the first RUS (REA) borrower in the United States.

•Volunteer Energy recognized by Solar Electric Power Association (SEPA) as the #10 cooperative utility for total solar electric capacity.

HENDERSON, HUTCHERSON & MCCULLOUGH, PLLC – Chattanooga, TN (www.hhmcpas.com)

(Certified Public Accountants & Business Consultants, BDO Seidman Associate Member, Public and Private Clients)

AUDIT MANAGER, November 1988 to April 1997

Key Accomplishments:

•Co-managed nationwide government services business line that generated gross revenues of over $3 million in three years and increased firm’s gross revenues by 33%.

•Managed financial statement and regulatory compliance audit engagements for a multi-tiered financial institution servicing 580,000 loans with a book value $40 billion.

•Managed nationwide financial statement audit for a federal government program with assets and annual expenditure budget of $4 and $2 billion, respectively.

•Questioned costs in excess of $15 million and presented recommendations to the U.S. Congress. Participated in 2 U.S. Department of Justice investigations.

•Co-authored audit guides for two major federal government programs

Prior professional experience:

SENIOR ACCOUNTANT, Kiesling Associates, CPAs, Madison WI

EDUCATION

UNIVERSITY OF WISCONSIN - Madison, WI - Bachelor of Business Administration, Accounting

UNIVERSITY OF CALIFORNIA MIRAMAR – San Diego, CA – Masters of Business Administration, Magna Cum Laude, (36 credits, 3.9 GPA)

UNIVERSITY OF TENNESSEE – Chattanooga, TN – Graduate level coursework (6 credits, 4.0 GPA)

PROFESSIONAL DEVELOPMENT

Certified Public Accountant (CPA) – Active license, State of Tennessee (#10799)

Graduate ~ Leadership Kauai Training Program (2004-2005)

Participant ~ NRECA Management Internship Program (MIP) – (2005-2006)

Continuing Professional Education Credits (> 600 CPE hours since 4/2014)

COMMUNITY SERVICE AND AFFILIATIONS

Treasurer ~ Capitol Lakes Property Management, Madison WI (2015-2016)

Runner-up ~ Father of the Year Award, State of Minnesota (2014)

Director ~ Touchstone Energy (2012-2015) (www.touchstoneenergy.com)

Chairperson ~ Wisconsin Electric Cooperative Association Board of Directors (2013–2015) (www.weca.coop)

Chairperson ~ Wisconsin Electric Cooperative Association Education Committee (2013–2015)

Director ~ Wisconsin Electric Cooperative Association (2011-2015)

Member ~ ACRE Presidents Club, Wisconsin (2013-2016)

Member ~ ACRE Executive Committee, Wisconsin (2013-2015)

Member ~ Dairyland Managers Association (2009-2016)

Member ~ Dairyland Power Cooperative, Audit and Risk Management Committee (2013-2015) (www.dairynet.com)

Chairperson ~ Dairyland Power Cooperative, Policy, Procedures and System Operations Committee

Including IT Standards Committee (2009-2011)

Member ~ Joint Executive Committee - Dairyland Board of Directors and Managers Association

(2009-2011).

Member ~ Marketing and System Operations Committee - Dairyland Power Cooperative (2012-2015)

Director ~ Polk County Economic Development Corporation (2009-2015)

Director and Vice-President ~ Burnett County Economic Development Corporation (2013-2015)

Member ~ Wisconsin Department of Natural Resources Joint Committee to Prevent Forest Fires

(2010-2015)

Member ~ Wisconsin Electric Cooperative Association (2009-2016)

Recipient ~ James Leigh Memorial Award - United Way Southwest Louisiana (2009)

(Recognizes the largest percentage increase in giving over prior year in the state)

Member ~ Association of Louisiana Electric Cooperatives (ALEC) (2006-2009)

Member ~ ALEC Finance and Audit Committee (2006-2009)

Member ~ ALEC Power Requirements Committee (2006-2009)

Member ~ ALEC Regulatory Committee (2006-2009)

Member ~ ALEC Hurricane Relief Fund Committee (2006-2009)

Member ~ NRECA Regional Resolutions Committee (2007-2009)

Chairperson ~ United Way Fundraising Committee – Beauregard Parish (2007-2009)

Member ~ Chamber of Commerce/City of DeRidder, LA (2006 - 2009)

Member ~ CFC IBES Conference Planning Committee (2006)

Director and Treasurer ~ Kauai Center for Arts, Education and Technology (2005-2006)

Trustee ~ Kauai Island Utility Cooperative VEBA Trust (2003-2006)

Member ~ Kalepa Sunrise Rotary Club/Kauai, HI (2003-2006)

Member ~ American Institute of Certified Public Accountants (1988-1997)

Member ~ Tennessee Society of Certified Public Accountants (1988-1997)

President ~ Chamber of Commerce/City of Decatur, TN (1999-2002)

Member ~ Lions Club/City of Decatur, TN (1999-2003)

Member ~ NISC Business Information Solutions Advisory Committee (2000-2004)

Member ~ Cleveland State Community College Campus Advisory Committee (2001-2003)

Legislative Adviser ~ 72nd District, State of Tennessee House

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