Background
Ms. Martha King has more than eight years of experience in the electric, gas, water, and telephone utility industries. Ms. King has a broad range of experience in general management, with areas of specialization in finance, accounting, auditing, affiliated relations and transactions, analyses of fuel practices, analyses of past cash flows, and forecasting future cash flows. She also has extensive internal control and financial auditing experience for a manufacturing, financial services, and regulated industry client base.
Ms. King held the position of Financial Analyst for New England Electric System, a large public utility holding company with 10 subsidiaries, including one wholesale and three retail companies. In this capacity, she was responsible for the preparation and analysis of the quarterly consolidated and subsidiary financial statement variance analysis for the respective Board of Directors meetings. She supervised and coordinated the quarterly and annual public audits, and was actively involved in the preparation of the financial statements and responsible for restating the Annual Report and the Supplemental Annual Report (10-year financial history) for FAS 95, Statement of Cash Flows.
Ms. King also served as an Audit Senior for Ernst & Young, where she managed and coordinated numerous audit engagements, including internal control reviews. She oversaw the engagement from initial contact with clients to presentation of financial statements and discussion of internal controls current status and potential improvements to clients and their boards of directors.
Education
B.B.A - University of Michigan
Functional
Experience
Financial and Economic Analysis
Analyzed affiliated relations which focused on transactions between the regulated affiliates and the nonregulated affiliates, but included an overall review of all transactions performed using statistical sampling for Entergy Corporation.
Analyzed utility areas of affiliated relationships, cash management, internal audit, customer accounting, and credit and collections for Louisville Gas & Electric.
Performed study of new billing system which included root cause analysis, corrective activities, and management for NYNEX/AT&T.
Investigated the financial impact that a "Spin-Off" would have on a regulated affiliate, through analysis of financial statements and economic studies. Ms. King also performed regression analyses on selected financial data to further evaluate potential financial impact of the "Spin-Off" for the Pacific Telesis Group.
Performed a number of comprehensive management and operations audits which investigated the areas of financial management (affiliated relationships, corporate finance, financial requirements planning and economic analysis, cash management, management accounting, taxes, budgeting management and control, internal audit, and rates) and management information systems.
Investigated inventory management utilizing modeling techniques and further refined the data by site visits, extensive physical inventory reviews, and interviews with plant personnel for Pennsylvania Power & Light.
Reviewed the costs and efficiencies of in-house construction and maintenance versus external contractors, through cross departmental meetings and extensive analysis using database techniques for Pennsylvania Power & Light.
Investigated and analyzed fuel procurement policies and procedures for both fossil and nuclear fuels, including management efficiencies and cost controls focusing on procurement practices and inventory management for Toledo Edison and Cleveland Electric Illuminating.
Investigated cash management operations for a large, multi-location, manufacturing company, including the company's cash management system of internal controls and recording procedures, identified opportunities and exposures, and implemented corrective procedures.
Selected
Clients
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