Michael Sheetz Email & Phone Number

Fayetteville, Georgia, United States

• Responsible for worldwide treasury functions including cash forecasting, daily cash management, bank account administration, and debt management and related compliance reporting.
• Enhanced weekly cash forecast to include entity-level basis and variance reporting.
• Led outsourced cash collections team to 34 percentage point improvement in accounts receivable more than 30 days past due pulling more than $8 million of cash into the North American segment of the business in less.
• Built model to calculate various defined terms in corporate credit agreement to track and project available capacity for specified transactions, future covenant compliance, and possible repayment obligations.
• Implemented interest rate swap contracts to eliminate floating-rate expense on 47% of debt heading into rising interest rate environment; projected cash savings of almost $20 million over five-year term of agreements.

Atlanta, GA

• Led the North American treasury team; responsible for preparing monthly bank account reconciliations, daily cash management activities and weekly cash forecasting.
• Developed monthly process for completing bank account reconciliations to fulfill reporting requirements of Group finance and address clean-up efforts for reconciling items existing from prior years on several bank.
• Standardized signatories and closed unnecessary bank accounts gaining efficiencies and reducing monthly fees.
• Introduced summary to effectively communicate changes in weekly cash forecast submission and quarter-end cash balance expectations to Group treasury.

Atlanta, GA

• Initially tasked with creating model to determine compliance with debt covenants and assist treasury team on workflow enhancements; following acquisition, transitioned focus to building disciplined cash reporting and.
• Built model, completed initial covenant compliance analysis and reporting, and produced process and procedures documentation in less than 60 days engaging worldwide financial and accounting staff.
• Introduced 13-week cash flow forecast process, including variance reporting, throughout all geographic regions; implemented key performance indicators to develop accountability and improve accuracy.
• Negotiated $92.5 million and $25.0 million increases to revolving credit and surety bond facilities, respectively.
• Member of management team that supported private-equity owners with sale process resulting in acquisition agreement valued at $3.25 billion.

Peachtree City, GA

• Following private equity acquisition was requested to re-join treasury team to drive improved performance during challenging period. Responsible for day-to-day cash management activities, forecasting and variance.
• Improved visibility into liquidity position for executive leadership on a consistent basis by re-implementing use of daily and weekly cash reporting, forecasting and variance analysis model.
• Stream-lined bank account structure and utilized excess cash balances to offset $10 thousand of fees per month.
• Developed model to calculate complex excess cash flow covenant including forecasting compliance with terms and conditions based on estimated future financial results.
• Managed aviation war-risk insurance policies provided by the federal government.

Peachtree City, GA

• Tapped to lead company's expansion of department and re-focus business on budgeting, planning and financial accountability. Managed annual budget process for P&L and capital expenditures, developed script for quarterly.
• Key contributor on team that evaluated and completed acquisition of privately-held airline with complementary equipment in $35 million, all-cash transaction resulting in broadened spectrum of product offerings.
• Customized financial forecast model incorporating balance sheet, income statement, statement of cash flows and supporting schedules to improve accuracy and consistency of data for use by board of directors and.
• Introduced activity-based budgeting and quarterly variance reviews with operations management and executive leadership to drive improved accuracy in predicting future financial results.
• Created product line reporting models to analyze revenue and cost by customer, aircraft type and line of business leading to improved cost estimation for prospective client programs.
• Improved annual financial review process for largest revenue contract supporting the U.S. military resulting in increased rates four consecutive years.

Peachtree City, GA

• Responsible for daily cash management, preparing monthly journal entries and bank relationship administration.
• Prepared daily, weekly, monthly, quarterly and annual cash flow forecasts and analyzed variances.
• Company lead for all non-aviation insurance policies such as automobile, cargo liability and crime including initiating and monitoring claims process when necessary.

Washington, D.C.

• Day-to-day cash management responsibility for U.S.-based operating units.
• Prepared weekly, monthly and quarterly cash forecasts.
• Managed internal central bank system utilizing multi-currency accounts.
• Assisted with working capital and receivables management activities.