- Owner
Jason Russell, CPA - Manager
Owner
Professional Experience
Marcia has over 36 years of public accounting experience with international firms and her own firm. She maintains a direct client relationship for a number of public agencies by providing a host of assurance and business consulting services. In addition, Marcia performs consulting engagements including: strategic planning, economic modeling, review of various forecasts and projections, contract pricing studies, compensation modeling and specialized internal control and agreed upon procedures projects.
Audit responsibilities include single audits under OMB A-133 and other not-for-profit engagements, as well as serving clients in industries such as utilities, health care, manufacturing, construction and high technology.
Some specific areas of her professional experience include:
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Public Pensions
Member of Government Accounting Standards Board Post Employment Benefit Accounting and Financial Reporting Task Force to review issues and provide guidance to members of the Board related to revisions to current standards for reporting pension costs and liabilities.
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Public Pension Benefit Expert
Routinely consults with members of the Governor’s cabinet and local agency officials on pension matters. Assists in drafting legislation related to pension reform. Frequently consults with academic researchers and media on pension related matters.
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President, California Foundation for Fiscal Responsibility
A nonprofit entity that educates governing boards and public agency staff, engages in research, and promotes transparency related to employee benefit plans. She frequently comments on risks and costs associated with current plan designs and suggests alternatives that are both fiscally sustainable for employers and attractive to workers.
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California Justice Department (subcontractor to NewPoint Group)
Performed an audit of an energy supplier to the State of California for purposes of perfecting the State's claim in connection with the supplier's bankruptcy proceedings. The audit involved correlation of state warrant payments and lockbox deposit records to the supplier's cash receipt records, and determining daily cash balances for the year prior to bankruptcy petition filing.
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California Department of Education (subcontractor to Ernst & Young)
Assisted the State in designing a standardized accounting and reporting system for all school districts within California.
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California Prison Industry Authority (subcontractor to NewPoint Group)
Conducted a performance audit including comparisons of various measurements (product costs, taxpayer subsidies, management functions and goals, data processing systems, prisoner productivity, training, etc.) to four other states and the federal government's prison industries. Our findings resulted in legislative effort to initiate reforms similar to Florida's PRIDE program.
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Roseville Telephone, Inc.
Assisted the company in its rate increase application with the FCC. Services included compiling cost reports and meeting with regulators. Assisted the company in designing accounting systems to enable separate financial reports for regulated vs. nonregulated operations. This work resulted in the formation of RTC, Inc. (a wholly owned subsidiary of Roseville Telephone, Inc.) which sells telephone equipment and provides non-regulated services in the communication industry.
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California Department of Insurance (subcontractor to Ernst & Young)
Review of the implementation, administration and plans for termination of the California Residential Earthquake Recovery Program.
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California Bureau of State Audits, California Residential Earthquake Recovery Program (subcontractor to Ernst & Young)
Management audit which included review of administrative operations, administrative costs and contract management.
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California Department of Health Services (subcontractor to Ernst & Young)
Prepared computerized maps of database of Medi-Cal enrollees by zip code in California; prepared maps of health providers by zip code in California; combined data bases of enrollees vs. providers and mapped relationship by zip code in California.
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State Department of Finance (subcontractor to Ernst & Young)
Prepared analysis of alternative financing available for small business using State Pollution Control Bond Authority Financing (SBAF) vs. SBA financing; performed due diligence financial reviews of banks providing letters of credit guarantees to borrowers of SBAF financing.
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State Department of Education (subcontractor to Ernst & Young)
Developed need requirements, feasibility and system design for automating the accounting and auditing functions of the Local Assistance Bureau.
- Consultations on various accounting and management issues applicable to governmental organizations
Professional Affiliations
Certified Public Accountant - State of California
American Institute of Certified Public Accountants
California State Society of Certified Public Accountants
Education
Bachelor of Science, Business Administration, with honors, University of Southern California
Community Activities
Past President, Citrus Heights Chamber of Commerce
Charter Board Member and Treasurer, Hearts for Parks, a nonprofit organization supporting the Sunrise Recreation and Park District
Board Member, Sacramento Valley Open Space Conservancy
Member, South Sutter County advisory committee for the County general plan
Financial Advisor, Alpha Delta Pi Sorority, CSUS
Member, Los Rios Community College Bond Oversight Committee
Jason Russell, CPA
Manager
Professional Experience
Jason has experience with both large and small clients. Having started his career working for a governmental entity, Jason understands the needs of governmental clients. From there he jumped into the corporate world just as corporate America began implementing Sarbanes Oxley. Having worked for the past several years in a mid-size CPA firm, Jason has gained a well-rounded set of tools to help your entity. These include the design and implementation of internal controls, creation and review of audit reports as well efficiently lead audit engagements.
Jason's audit responsibilities include significant experience with single audits under OMB A-133 and other not-for-profit and governmental engagements, as well as serving clients in industries such as utilities, Special Districts, banking, mortgage and consumer lending.
Some specific areas of his professional experience include:
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Sacramento Municipal Utility District (SMUD)(subcontractor to Baker Tilly)
Performed annual audits of SMUD's Joint Power Authorities. The audit involved testing the financial assertions of the client prepared financial statements. Testing and verifying from third parties the underlying figures presented by the client for publication.
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Multiple Water Districts and Companies
Jason serves as the auditor in charge of all water entities audited by Marcia Fritz & Company. This includes all aspects of the audit from initial contact to planning, performing, staffing and finalizing the prepared by client financial statements. Jason has worked extensively with both governmental water districts as well as non-profit and for-profit water companies. Work with non-profit and for-profit water entities includes the preparation and review of necessary tax filings with the IRS and various state taxing agencies.
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Various California Cities
Jason spent the early portion of his audit career working with mid to large cities within the state of California. Here he experienced the control environment of multiple location departments regarding the collection and disbursements of cash. Projects included the establishment of cash collection procedures for sanitation districts, municipal parks and recreation facilities as well controls related to the safe keeping of cash and cash receipts. Jason learned the inside of OMB A-133 while working with cities, and was in charge of identifying and creating audit plans and documentation associated with the various federal, state and local grants many Cities receive.
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Sarbanes Oxley
Having been in college when Sarbanes Oxley was passed by Congress, Jason was able to learn firsthand the effects this act would have on businesses. An integral part of Sarbanes Oxley included the proper management of unclaimed property by companies. While working for the world’s largest subprime mortgage company, Jason was charged with the developing procedures for escheating unclaimed property to the legally responsible parties. This required the establishment of computer databases to process payments to customers as well as payments to each of the 50 states.
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Electronic Payments for Governmental Entities
Jason's strong work ethic brought him into the working world early, as an intern at the Department of Treasure for Orange County California. Orange County would pioneer Web based payments for governmental entities. Long before any other government was accepting web based payments, the County implemented its online system. Jason was charged with addressing the associated accounting issues involved including troubleshooting, direct contact with taxpayers as well as cooperating with various banks and merchant processors. Unknown to him at the time, this experience would aid Jason in almost every consulting job in his career. Since his time with the County, Jason has consulted with the implementation of multiple accounting/Web based system implementations for all forms of business and governmental entities.
Professional Affiliations
Certified Public Accountant - State of California
American Institute of Certified Public Accountants
California State Society of Certified Public Accountants
Education
B.S. Business Accounting, Magna Cum Laude
Biola University, La Mirada, California
Community Activities
Non-Profits
Treasurer - Capital City AIDS Fund
Treasurer - FastBreakTech Inc.
Former Treasurer - Sacramento Rainbow Chamber of Commerce
Governmental
Aviation Advisory Committee – County of Yolo
Publications
"California Special District" Volume 2, Issue 4, July - August 2007
"California Special District - eNews" June 25, July 16, July 30, August 13, 2007
