Section - Treasurer

Treasurer

One candidate

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William Plumb

USA Member since 1996, USA Treasurer since 2000 In 2000 I retired after a 30 year career in Banking and Structured Corporate Lending with my final position being Senior Vice President. I also served five years in the U S Coast Guard and I was a Police Officer for a little over 5 years. I am a graduate of Wayne State University School of Business with concentrations in Finance and Economics. I am currently President of the Libertyville (Illinois) Police Pension Fund Board.
When I first became Treasurer in 2000 I found that, much to my surprise, USA was in deep financial trouble. Our regular income was less than our ongoing expenses. We did not have enough cash to pay our bills so we were living on our credit card. We had been kept afloat by the Lifetime Member program. Not long after becoming Treasurer we were hit by taxes and penalties by the IRS for a past audit that was contested at the time and we lost. We did not have the cash to pay the IRS so we set up a payment plan. The Officers and Directors faced up to the problem once we analyzed our finances and found our problems. Our members came through with contributions so we could pay the IRS debt early and we were able to get a refund of part of the penalties.
We now have substantial cash reserves and the results of our last IRS audit yielded only some minor comments.
The position of Treasurer is now proactive instead of reactive. If reelected I will continue to operate in that mode. We do not want to ever again get in the position we were in the late 90's and 2000.