Financial Reporting Team Member

Thomas Foskett, CPA

C 609-***-**** **********@*****.***

Executive Summary: Consummate cohesive team member, that has been a contributor in several successful organizations, presiding over record earnings and growth. A proven leader and developer of talent. A champion of the entity. An aptitude toward systems and items that increase efficiency.

Professional Experience

CLA (Clifton Larson Allen) January 2024 to Present

8th largest accounting firm in USA

Engagement Director

Leader of consulting engagements

Clients have included municipalities, architectural firms, fire arms manufacturer.

Built pricing model for major government contractor.

Process reengineering and improvement

Client staff development and self sustainability.

Successful engagements resulted in timely tax filings and recoveries of overpayments.

Port of Wilmington April 2022 to December 2023

GT USA/Enstructure (PE company backed by Blackrock funding)

Corporate Controller

●Established formal written procedures for the basic transaction cycles.

●Enhanced Financial Reporting and Month End Close Process

●Rebuilt ADP GL Interface reducing close time and providing refined financial reporting (April 2023)

●Worked with turnaround group (Ankura) to complete QOE for eventual buyer.

●Worked with PwC to complete the latest financial audit

●Gained a concept in Concession Accounting - the basis for the 50 year lease at the Port

●Hired and replaced staff to upgrade department

●Located the correct technical resource to maintain the company’s legacy Oracle ERP system

●Provided answers to due diligent group forming a proposal to several PE backed entities.

●Built and reviewed various pricing proposals.

●Facilitated Migration of Oracle ERP system to Microsoft Dynamics SL (Solomon)

●Re-rebuilt ADP GL interface to load into Solomon (August 2023)

Beacon Hill Staffing Group October 2019 to April 2022

Hardinge Inc. (PE owned Privett group Atlanta) Berwyn, PA July 2021 to April 2022

Interim Corporate Controller

Private Equity International Manufacturer of Industrial Machines ($400M)

●Managed and developed global accounting team. Attracted, developed competent and committed staff. Establish clear performance objectives and career guidance for each direct report. Motivate and reinforce teamwork. Mentor staff and provide technical leadership.

●Worked with UK personnel to solve a long standing pension issue with Jones and Shipman subsidiary.

●Participated on the JDE implementation team for the Elmira New York location and the France Forkardt location.

●Quarterbacked the Quality of Earnings audit from primary lender, resulting in the PE group to expand the facility and obtain a new ABL.

●Enhanced the daily international treasury reporting function.

●Lead company through 2021 Financial Audit (BDO) and Corresponding Tax (GTM) provision. Goal of having a signed audit report 75 days earlier than prior year.

●Direct all periodic financial reporting for the Company, including the preparation and filing of financial statements, registrations, lender covenant and other compliance filings.

South Jersey Industries, Folsom, NJ October 2019 - June 2021

Interim Manager of Financial Reporting

Publicly held energy services holding company ($1.5B)

●Managed the monthly closing process for SJG for fiscal year 2020

●Participate in compilation and review and of 10Q and 10K footnotes.

●Revised the reporting of ASC 606 revenue footnote.

●Certified the internal control process flow charts for Deloitte and internal audit for 15 discreet processes.

●Led the SJG accounting team through the immediate and full transition to a paperless close cycle (due to Pandemic).

●Shortened the cycle time on quarterly balance sheet reconciliation process.

●Facilitated the first time of audit of certain acquisition acquired benefit plans, audit was performed by BDO.

●Developed and documented a new process for journal entry to evidence review and approval for IC purposes.

●Articulated the company environmental reserve approach and rationale to Deloitte.

Cetacean Marine, Moorestown, NJ 2013 – 2019

VP/CFO Finance w/equity

Privately held Vessel management/maritime services company/Federal Environmental Protection Agency.

●Established a partnership with a billion dollar maritime company to team on governmental small business opportunities.

●Established a relationship and contract to service Nordic Hamburg’s U.S. Vessels.

●Negotiated a five year contract with primary labor union (MMP).

●Lead the budget and bid process for each fiscal year.

●Own monthly close process, ensuring GAAP compliance for all financial reporting

●Responsible for variance analysis and ad hoc reporting

●Negotiated current line of credit agreement, demonstrating anticipated ROI based on business plan and subsequent forecasting models.

●Submitted all covenant requirements which included NPV and ROI analysis.

●Obtained security clearance to support Cetacean’s Facility Security Officer.

●Facilitated full financial audit of Cetacean and its subsidiaries.

●Performed NPV analysis relating to vessel acquisition for the purposes of third party chartering.

●Coordinated the transition of new senior management with existing government contracting officers.

●Lead acquisition team due diligence regarding the purchase of a maritime training company. This work included building the ROI analysis and multiple scenarios based on the possible purchase structure.

●Implemented ADP into the corporation.

●Coordinated the company move from Florida to New Jersey in March 2014.

TOTE Inc. (Subsidiary of Saltchuk Resources – $7.5B Holding Company)

2002 – 2013

TOTE Services – Vice President Finance (2006 – 2013)

$120 million subsidiary engaged in Ship Management/US Navy.

●Promoted to lead day-to-day operations supporting all aspects of finance for the company.

●Prepared and presented the Quarterly performance reports for the Board of Advisors

●Performed valuation of potential acquisition, presented final model to Saltchuk corporate for decision.

●Liaison for both PwC annual financial audits and DCAA contractually mandated audits.

●Oversaw IT function IT strategic direction, banking relationships, labor relations, and process improvements.

●Lead the budget, and bid process for each fiscal year.

●Managed a nine employee department. Prepared and presented with the President the annual and five year strategic plans.

●3% reduction ($400K per annum) in overall crew costs per annum achieved by relocating crewing department to Florida.

●100%+ recovery in vessel arrest case settlement.

●Completed the buy/lease ‘what if’ analysis for corporate office space, which included achieving proper IRR.

●Successfully defended a rate assertion the diplomatic resolution broadened the future customer relationship.

●Obtained a 96% reduction in proposed fine from U.S. Customs and Border Patrol regarding late filing of CBP Form 226.

●Negotiated positive rate adjustments from existing customer base all of which increased ROI.

●Secured claim status reached in bankruptcy recovery claim in District of Puerto Rico filed without legal assistance.

●Instituted a mark-up for current services rendered to former customers for the defense of indemnified asbestos claims.

●Salvaged relationship with commercial customer by revamping financial reporting to meet their specific needs.

●Headed the implementation team of Lawson ERP system for TOTE Services.

●Guided the company through a loss of a significant commercial contract, guiding company back to profitability.

Sea Star Line - Corporate Accounting Manager (2002 – 2006)

$225 million high speed liner service U.S. domestic trade, Jacksonville, FL

●Hired and developed a staff of five. Worked extensively with operations to streamline the order to cash process.

●Revised the accounting month to 5-4-4 scheme which provided an accurate measure of profitability.

●Developed segment reporting, which included analysing IRR, and ROI, to determine growing or closing of the segment.

●Created an internal audit function.

●Prepared and presented the financial presentation for the quarterly manager meetings.

●Participated in the upgrade of Great Plains and aided in the selection of a VAR.

●Selected to Learning Advisory Council and Quality Management Board.

●Established formal written procedures for the basic transaction cycles.

PETROFERM

2000 – 2002

$90 million international chemical manufacturer(owned Banner Chemical in UK) Jacksonville area firm subsequently relocated to Chicago.

Corporate Controller

●Used Epicor and bolt on FRx to rebuild financials and write ad-hoch reports.

●Developed and maintained corporate policies. Oversaw the monthly consolidation of the six subsidiaries.

●Centralized the A/P function of the three U.S. manufacturing sites. Also implemented ACH.

●Shortened the close cycle coordinated the annual audit performed by KPMG.

●Managed a Dutch buyback of shares.

MEDTRONIC Xomed (MDT)

1997–2000

Medtronic $7 Billion Surgical Device Manufacturer, Xomed subsidiary $260M manufacturer of ear, nose and throat devices Jacksonville, FL.

General Accounting Manager (Controller)

●Responsible for maintaining integrity of general ledger. SEC reporting, sales tax filing in 45 states. Consolidated fifteen entities on a monthly basis, including five international subsidiaries.

●Implemented ACH and positive pay.

●Replaced the Chart of Account during an upgrade of the SAP ERP system.

●Represented the accounting department as the Lean manufacturing representative.

●Resolved a chronic PPV reconciliation with cost accounting.

●Provided ad-hoc reports to support marketing, and overall profit by product reporting.

●Successfully defended entity through several sales tax audits

●Lead the PBC portion of annual audit (PwC).

●Achieved VAT recovery through research and implementation of an approach.

GATX LOGISTICS (GMT) (Now APL Logistics) 1991-1997

$270 million subsidiary contract and public warehousing, Jacksonville, FL

Manager of Operations Accounting (1995-1997)

●Responsible for IS accounting, fixed asset management, start-up accounting, pricing support and cost accounting

●Obtained a significant sales tax recovery relating to long term lease rules.

●Established a profit by customer report.

●Hired and developed a staff of four accounting professionals.

Manager of Information Systems (1994-1995)

●Leveraged the J.D. Edwards ERP system to provide for budgeting and forecasting of all IT Projects.

●Wrote the white paper which provided the basis for capitalizing internally developed software.

●Derived $50K in revenue per annum by recouping cost of programming.

●Negotiated long term leases with IBM.

●Guided twenty cost centers through the annual budget process.

Internal Auditor (1991-1994)

●Performed operational audits and special projects nationwide.

●Discovered a $1 million inventory shortage during due diligence work of a potential acquisition.

EDUCATION

STETSON UNIVERSITY, De Land, FL

Bachelor of Business Administration, Major Accounting

CERTIFIED PUBLIC ACCOUNTANT (active Certificate from state of Florida)

TECHNICAL SKILLS

All Microsoft Office products, Dynamic GP and SL (Great Plains and Solomon), Work Day, Epicor, JD Edwards, Lawson, SAP, SAGE Business Works, Hyperion Essbase, Cognos, ADP.

Member of FENG – Financial Executives Networking Group Member of the AICPA

Hold an Active TWIC Active Secret Level Security Clearance

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