Leonard R. Palumbo

adxzn8@r.postjobfree.com

www.linkedin.com/in/len-palumbo

Groveland, Florida, 908-***-****

SENIOR MANAGEMENT

Resourceful, innovative professional with over 20 years Financial Management experience primarily in the commercial real estate industry. Held P&L responsibilities. Expertise in initiating projects and programs that boost productivity and the financial health of a company. A true Hands-on Manager with proven skills in finance, research, analysis, strategic planning, budgeting, coordination, troubleshooting, training/coaching, and improvement of operations through policies that promote a team-based work atmosphere, prudent economic management, and a positive effect on the corporate bottom line.

Areas of Expertise

•SEC reporting/filing

•Lease comprehension

•Real estate accounting

•Tenant account management

•Reports compilation

•Staff management

•Sarbanes-Oxley compliance

•Escrow/bank reconciliation

•Due diligence / compliance

•Fixed asset reconciliation

•Expense review / reconciliation

•Transparent communication

•Job cost tracking / reconciliation.

•Straight line calculation

•Data management / analysis

•Budget projection

•Time management

•Accounts receivable / payable

Accomplishments

Manage day to day activities of a multi-entity development and construction company, including all accounting and financial functions, weekly cash reporting, wires, balance sheet status, equipment repair tracking, loan payments and investment analyzation.

Quarterly review of financial reports and meetings with joint venture partners, reconciling interest on loan payments and quarterly earnings distribution.

Review, analyze, and report potential revenue for future business ventures including land purchases, residential acquisitions, and a potential casino investment.

Managed all aspects of a multilocation company function including development of business plans, recruitment, hiring and training of staff, budgeting, P&L, scheduling work and activities, establishing policies and procedures, procurement of equipment and supplies, client relations, performance evaluations and motivation of employees.

Took-on research into what steps were required to expedite the company’s PPP loan forgiveness. Researched financial actions taken and the documentation needed for governmental compliance. Succeeded in having this million-dollar loan forgiven in record time.

Increased productivity and profitability by onboarding and training 20+ employees from a recently acquired company. Developed curricula, learners’ manuals and delivered lecture, small group and one-on-one instruction to these individuals while maintaining my normal workload.

Analyzed over 200 tenant leases in the properties the company owned. Identified changes in billing procedures and building expenses that allowed for standard operating procedures to be reestablished and corrective charges made to ensure profitability.

Reduced operating expenses through analysis of electric usage across the portfolio. Researched inconsistencies over a period of 10+ years with properties and geographic regions. Discovered issues with certain rates charged within the portfolio which when fixed reduced electric costs.

Enhanced morale through promotion of a team-based work atmosphere. Provided assignments of increased responsibility along with opportunities for additional training and challenging performance incentives that encouraged a sense of ownership in the overall operation.

Took-over management of the company's leasing department. Successfully managed all aspects of the leasing process from negotiations to execution of leases to supervision of associated support staff.

Career Experience

Chief Financial Officer, Blue Steel Development, LLC 2022-Present

Run day to day office operations including system administration, positive pay approval, IT liaison, facility inspections, and other office equipment needs.

Develop and implement financial policies, procedures, and systems that are compliant with regulatory requirements and industry best practices.

Provide financial analysis and guidance to the principal owners to support strategic decision-making and long-term planning.

Implemented positive pay system for all entities, ensuring an extra layer of security in the accounts payable system.

Review and manage cash flow for various entities at multiple banks. Provide a weekly source and uses schedule for each entity, assuring that all expenses and potential revenue recognized.

Work with cash management bank to ensure loans were funded and proper escrow amounts were collected in accordance with the cash flow and loan agreement. Coordinated monthly meetings to ensure compliance.

Review quarterly financial reports from joint venture partners. Reconcile quarterly distributions, ensure timely management fee payments, meet with partners on current projects, and reported findings to owners.

Oversee day to day activities and management of 2 multi-tenanted warehouses including, budgeting, accounts receivable/payable, tenant and building issues/repairs, and yearly CAM true ups.

Ensure liability insurance coverage on all new acquisitions and existing entities. Work with brokers to find the best fit and lowest rates for the company.

Collaborate with tax accountant to review all financial information for tax return filing and distribute year K-1s.

Prepare and send out 1099s to vendors.

Track and pay all vehicle and equipment loans. Review, analyze, and pay all equipment repair invoices.

Monthly review of all construction in progress, with budget to actual variance analysis. Meet with project managers to ensure projects were staying on budget.

Ensure OSHA compliance by logging construction site accidents and filing annual reports.

Director of Property Accounting and Fiscal Controls, Tower Realty Partners, Inc. 2020-2021

Boosted productivity through implementation of a paperless accounts payable system. Partnered with the system vendor to learn all aspects of this application and after its installation, taught its use to team members associated. Timeliness of invoice payments improved significantly.

Coordinated the timing and schedules necessary to initiate meetings between the accounting management team and the actual company property sites to better understand current and future projects planned. Information gained allowed for the creation of better financial budgets for the upcoming year.

Senior Director of Property Accounting and Lease Administration, Mack-Cali Realty Corporation 1999-2021

Director of Property Accounting

Manager of Property Accounting

Senior Property Accountant

Improved financial strategies by coordinating between property management and senior management to discuss the proposed budgets and business plans. Succeeded in organizing this annual event yielding workable budgets for the following year.

Took on the company's need to combine regional staffs as the company began to sell off assets. Managed the combination process while making sure all team members were comfortable in their new reporting roles. Initiated meetings, listened to staff concern, and made adjustments that resulted in no turnover of staff.

Partnered with a key tenant to provide the financial information needed for a 10-year audit. Reviewed operating expenses over this past decade period, often diving deep into the company's archives. Succeeded in provided the information necessary resolve this need of the client, resulting in a 10-year lease renewal.

Reviewed and served to troubleshoot the production of the company's annual 10-K report. Provided key leasing statistics and ran independent reports to ensure all numbers were reported accurately.

Senior Property Accountant, Hartz Mountain Industries 1994-1999

Provided historical data to a town that had negotiated use of a common property roadway. Pulled over a decade of invoices that had yet been reimbursed by the town for use of a roadway and successfully secured over $1M in back expenses to the company.

Experience With:

MS Office, Yardi Voyager, Foundation Software, IBS Property Management Accounting, QuickBooks, Sage Fixed Asset System, Process Improvement, Leadership

Additional Experience

Team Building, Conflict Resolution, Human Resources, Customer Service, Safety, Hazmat, OSHA, Diversity, Harassment, Negotiations, and Motivation

Education

Bachelor of Science in Accounting

Rutgers University, Newark College of Arts and Sciences, NJ

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