New Hires at VISTA Signal Shift in Federal Perspective on Real Property
Financial and Analytical Backgrounds Are Increasingly Important in
Real Property Asset Management
Herndon, VA (3 MAY | 2007) VISTA, the leader in real property asset management and related services for government, recently hired two new analysts, both of whom have extensive experience in the financial world. For VISTA, this hiring trend reflects the changing perspective the federal government has of real property - that is the land, buildings and related infrastructure government agencies need to support their missions.
"The Office of Management and Budget (OMB) and the Government Accountability Office (GAO) have each weighed in on federal real property's susceptibility to waste, fraud and abuse," said VISTA Vice President for Corporate Development Ray Summerell. "Under H.R.3699, signed into law at the end of 2006, OMB has until the beginning of July to identify the first 100 surplus real federal property holdings, calculate their value individually and collectively, and plan for their disposal.
"That requires more sophisticated financial knowledge than had previously been required of federal real property asset management," Summerell continued. "This activity, as well as requirements of Executive Order 13327 on Federal Real Property Asset Management (EO13327) and the President's Management Agenda real property initiative, are all indicators that the government is awakening to the true asset value of its holdings.
"To maintain its market leadership, VISTA continues to hire seasoned analysts who understand that real property is more than just a bill to pay. That means a strong financial background is crucial to our team of analysts," Summerell concluded.
To that end, VISTA recently enhanced its staff with the hiring of Lesley Frome as Real Property Analyst and Jessie Johnson as Real Property Associate. Both report to Brent Larson, Project Manager for Federal Civilian Real Property.
Frome is a data analyst, currently providing real property inventory data analysis for multiple federal agencies and supporting those agencies in their efforts to attain Green status with the President's Management Agenda for federal real property reform. Her responsibilities include Federal Real Property Profile (FRPP) real property inventory data analysis, FRPP performance measures analysis, and departmental asset management plan analysis and editing.
Frome spent seven years at Wachovia Retirement Services, in Reston, VA, where she was responsible for the comprehensive review and interpretation of complex defined benefit plan documents, and application of plan provisions to calculations and policy matters. She received a Bachelor of Science degree in Mathematical Sciences with Actuarial Science concentration and a Minor in Economics from George Mason University in 2001, and has received recognitions from the Society of Actuaries.
Johnson's role at VISTA is to consult to the company's clients as part of a team that develops and implements real property asset management programs and supporting IT systems to the federal government.
Previously employed by the financial services company TIAA-CREF as an Associate Intern, Johnson supported and presented the managing director and review board with information on potential real estate acquisitions, bid dates, and pricing. He evaluated the performance of multiple account portfolios in order to maximize asset value. He also researched market trends and Argus data in the Southeastern region to ensure accurate pro forma absorption rates, and cash flows, using financial models to begin underwriting process of potential acquisitions.
Johnson holds a Bachelor of Arts degree in Mathematics from the University of North Carolina at Charlotte, and has completed coursework towards a Masters degree in mathematical finance.
The financial ramifications in taxpayer dollars of maintaining unused or surplus federal real property are wide-ranging. According to the GAO High-Risk Series Update from January 2007, "over 10 percent" of the facilities are excess or underutilized at agencies including the Departments of Energy (Energy) and Homeland Security (DHS) and the National Aeronautics and Space Administration (NASA). Clay Johnson, OMB Deputy Director for Management, has testified publicly that five percent of the federal government's surplus real property has a value of $15 billion.
About VISTA
VISTA helps its clients gain the greatest value from money spent on real property assets.
Government financial and operations executives use VISTA for information technology, management consulting, decision support systems and services. VISTA's services and solutions help collect and analyze massive volumes of asset-related data. The result is high quality financial and performance information that makes it easier to plan and implement effective policy, management, stewardship, and budgetary decisions.
By working with VISTA, organizations develop best practices, as well as consistent reporting standards and performance measures. The return on investment for VISTA's services can be as much as 100-to-1.
For more than 20 years, VISTA's solutions have simplified cash management strategies - cutting costs, eliminating waste and improving overall workplace efficiency. To learn more, visit www.vistatsi.com.
|
