Don McKay has had a progressive career in finance and accounting. He is responsible for all financial activities of the firm, including the firm's finances and oversight of freight payment services for retainer clients. Also, Don is Highroad's quarterback for management of day-to-day operations, and he has primary responsibilities for special audits.
Don's career in accounting spans more than thirty years and he has earned a reputation for his ability to improve the efficiency of operations and to solve problems. Summarized below are examples of his accomplishments:
- As Accountant for Wade Group, a commercial insurance broker, Don was responsible for improving administrative processes, customer service performance, while controlling operating expenses and providing support services for the President. This included preparation of cash flow schedules, budgets, internal audits, and financial reports. He conceived and initiated policies that improved operational efficiency and under his direction, his team reduced past due account balances.
- As Accounts Payable/Fixed Asset Manager for World's Finest Chocolate, Inc., Don was responsible for managing assets and capital expenditure projects and related reports. In that role, he reduced costs by streamlining the fixed asset procedures, and he eliminated late fees and penalty expenses by processing all twelve state sales tax returns in a timely manner.
- As General Accounting/Payroll Manager for Robertson Worldwide, Inc., the largest manufacturer of compact fluorescent and specialty ballasts in North America, he had oversight over all accounting functions, including preparation of financial statements, reports, audit schedules, management and control of capital expenditure budgets, and he administered the physical inventory process. Accomplishments include:
- Increased operational efficiency by automating accounts payable bank reconciliations using the company's mainframe computer system, eliminating a four-month work backlog and outstanding out-of-balance conditions.
- Streamlined annual inventory processing, he provided staff training and he established new control procedures. The company realized a 40% reduction in processing cycles with a data entry error percentage of less than one-quarter of one percent.
- As Controller for Jomar Industries, Inc., Don assumed responsibility for negotiating and administering all business related insurance policies, in addition to managing financial closings, generating financial statements, performing internal audits, and supervising Accounting personnel for this railroad car parts manufacturer. Accomplishments achieved include:
- Played a key role in automating the general ledger accounting system and setting up an accrual system for payroll and related taxes.
- Introduced an audit system for accounts payable that lead to the discovery of a substantial amount in telephone expenses erroneously paid for by the company.
- Supervised the payroll system conversion.
- Reduced the number of accounts receivable days outstanding from 48 to 37, reducing monthly interest expenses from borrowed funds.
- Conceived, documented, and implemented a new inventory procedure that reduced the physical inventory counting and verifying process by 40%.
- As Controller/Business Manager for Plus Three Mirror and Glass, Inc., he was responsible for all accounting functions, including compliance audits, financial audits and operational audits. He also administered all of the vehicle and equipment leases. During his tenure, he improved efficiency and control by automating the company's job cost system, and he negotiated a reduction in the real estate tax bill, reducing real estate taxes paid by 40%.
- Don was recruited to a position of Accounting Manager at Voss Equipment, Inc., and was promoted three months later to Controller. In that role he was responsible for all accounting, finance, equipment leasing and for Information Technology. During his tenure, outstanding receivables were reduced from 56 days to 34 days; he reduced processing days for financial reports from 15 days to four days; and with the Treasurer, he re-negotiated a financing package that reduced annual interest expenses by more than $80,000.
- Don had a progressive career at Patten Industries, the largest Caterpillar tractor dealer in the United States. He was hired as Staff Accountant, then promoted to Division Controller and later to Corporate Accounting Manager. In that position he was responsible for accounting, finance, floor planning, equipment leases, and he managed the corporate 401K plan. During his tenure he created a new division for air cooled engines.
Don started his accounting career as Accounting Trainee at UARCO Inc., and he was soon promoted to General Accountant, then to Billing Supervisor. In that role, he supervised an accounting staff of 22, and he was responsible for all accounting and billing functions. He had primary responsibility for cost accounting for the carbon plant, and he wrote and implemented procedures and forms for management of warehouse inventory and physical inventories.
Donald J. McKay attended Loyola University; he earned a Bachelor of Science in Accounting, with a minor in Finance and Psychology, at Elmhurst College.