About Fred Timberlake
Fred has over 35 years of financial and operational leadership experience across diverse industries; from Fortune 500 sized publicly traded companies to privately owned entities. In addition, Fred has extensive experience with nonprofit organizations ranging from social service agencies to private education. He has served as CFO, CEO, Divisional Controller, Vice President, Executive Director or Financial Consultant.
His background includes:
- Divisional Controller for Fortune 500 sized companies with divisional revenues of up to $100M. These industries include power plant equipment engineering and manufacturing for large national and international utilities markets and as well as an underground pipeline construction company serving major local gas, water, sewage, wastewater and electrical utilities.
- CFO for several large regional nonprofit organizations serving in the social services, education, mental and behavior health fields with locations in 5 states and over 500 employees
- Interim CEO for a Pre-K to 12 private education institution
- CFO/Controller for two publicly traded (NASDAQ) corporations
- Consultant CFO for privately owned businesses in retail, fast food, pharmaceutical, construction and non-profit fields
Some of Fred’s notable accomplishments included:
- Utilized effective cash management strategies to improve cash position from a negative $600,000 to a positive consistent balance of $450,000 within a four month period
- Implemented process improvements in Medicaid billing procedures by increasing the frequency of billing, automating the claims approval process, and reducing the number of denied claims. As a result of these steps, Days Sales in Medicaid Receivables were reduced from 47 days to 10 days
- Effectively appealed state reduction in per diem rate through negotiation which restored almost $400,000 to the bottom line
- Directed turnaround of major local non-profit that was on the bank’s watchlist for troubled loans and facing imminent foreclosure. Implemented strategic reduction in force through attrition as well as improved billing, expense reduction and voluntary pay cuts. As a result, these steps reduced a projected loss of $250,000 to a surplus of $50,000 and removal from the bank’s watchlist
Fred believes that financial reporting is an integral tool for effective management. He stresses the importance of identifying financial metrics to measure. “What is measured gets managed”. He has developed Key Performance Indicators (KPI) for various industries with color codes to show what is acceptable, cautionary and unacceptable. He also develops customized financial reporting for different stakeholders ranging from financial institutions, investors, boards of directors, executive management and departmental heads. He also provides each CEO with a weekly summary that includes current cash position with a six week cash forecast, current account receivable aging with action steps for each over 90 day account and current accounts payable aging.
Fred is equipped with an analytical bent of mind, problem solving skills and keen business acumen. He constantly endeavors toward delivering continuous results by handling multiple functions and activities under high-pressure environments and tight deadlines. Fred has demonstrated remarkable leadership and interpersonal skills to effectively communicate with financial institutions, boards of directors, investors, executive and departmental management. He is comfortable presenting financial and operational results to boards of directors and public forums. He is also known for his skills in mediation and facilitation in resolving disputes while achieving common beneficial outcomes.
Fred’s experience with accounting software ranges from large ERP systems (e.g. Dynamics GP and Abila MIP) to medium business software such as QuickBooks Enterprise and small business software such as QuickBooks Online and Desktop versions. Fred is a Certified QuickBooks ProAdvisor.
Fred completed the Executive Fellows MBA from one of the nation’s top rated MBA programs, Rockhurst University. Fred was selected by his peers to lead a team of cohorts in a corporate community service project for the largest Headstart program in Missouri. This consultative project identified major needs of the organization, developed a strategic approach to addressing these needs and led the organization to successful implementation of solutions. As a result of his leadership, Fred was awarded an Outstanding Service Award upon graduation.
Fred has lived in the Kansas City area most of his life. Fred and his wife of over 40 years, Carla, are active in the local church and community. Fred is also an Eagle Scout, has made two trips to Philmont, and has served in various leadership positions within the Scouting community. Fred has also served on a school board for almost 10 years serving as Board Treasurer and a member of the Executive Team. Fred and Carla have 3 adult children and 9 grandchildren. His two sons have master’s degrees and are in professional careers. His daughter is a teacher and is married to a pastor. Carla is a native of the Western Slope of Colorado so Fred and Carla enjoy annual trips to Colorado and activities such as hiking, 4Wheeling and touring. Fred enjoys the outdoors as well as tackling various home remodeling projects.
- Ottawa University, Ottawa Kansas; Rockhurst University, Kansas City Missouri
Certificates & Licenses:
- BA, Management and Finance 1974, Executive Fellows MBA, 2010, Certified QuickBooks Online ProAdvisor
- Financial Executives International, Financial Executives Network Group, Institute of Management Accountants