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David L. Norquist
Defense (joined: May 25, 2017)
Under Secretary and Comptroller | Financial Disclosure »
Bio, via Department of Defense:
Prior to his current role in the Department of Defense he was a Partner with Kearney and Company, a CPA firm that provides audit, accounting and consulting services to the Federal government. His career as a federal employee included providing financial management leadership at virtually every level at which the Federal government spends or oversees the expenditure of money. This includes eight years with the Department of the Army working at Army Headquarters, at a Major Command and at a field site; five years as professional staff on the House Appropriations Committee, Subcommittee on Defense; and four years as Deputy Under Secretary of Defense in the office of the Comptroller. From 2006 to the end of 2008, Mr. Norquist served as the first Senate confirmed Chief Financial Officer for the Department of Homeland Security. As CFO, he established a formal process to eliminate pervasive weaknesses in DHS’s financial statement and put DHS on its path to a clean audit opinion. From FY 2006 to FY 2008, DHS reduced the number of material weaknesses by 40% and the number of department-wide audit disclaimer conditions by 70%. Mr. Norquist holds both a BA in Political Science and a Master of Public Policy from the University of Michigan and an MA in National Security Studies from Georgetown University. He co-authored DHS: The Road to a ‘Clean’ Opinion, Journal of Government Financial Management (Summer 2014) and is author of The Defense Budget: Is it Transformational? Joint Force Quarterly (Summer 2002). He and his wife Stephanie reside in Virginia with their three children.
Former Positions Outside Government
- Institute for Defense Analysis Member (IDA Advisory Panel to Department of Homeland Security National Protection & Programs Directorate (Uncompensated))
- Kearney and Company Salaried (Non- Equity) Partner
- Rivendell School Board Board Member
Former Compensation Sources
- Kearney and Company Responsible for business development and managing projects.
Employment Assets
Description | Value | Income |
---|---|---|
Kearney and Company (Certified Public Accounting Firm) | $439,977 | |
Kearney and Company (Certified Public Accounting Firm), anticipated bonus | $15,001 - $50,000 | None (or less than $201) |
Kearney and Company Senior Executive Retirement Plan, deferred compensation: cash receivable | $50,001 - $100,000 | None (or less than $201) |
Vanguard 500 Index Fund Roth IRA | $1,001 - $15,000 | $201 - $1,000 |
Kearney and Company 401(k) - TRowe Price Retirement 2030 Fund | $100,001 - $250,000 | $5,001 - $15,000 |
Other Income/Assets
Description | Value | Income |
---|---|---|
U.S. bank account #1 (cash) | $250,001 - $500,000 | None (or less than $201) |
Virginia 529 (Education) InVEST account 2024 Portfolio | $100,001 - $250,000 | None (or less than $201) |
Family Real Estate Trust (This is a real estate trust jointly owned with my siblings. The house/property has been sold and most of the cash paid out. The trust is closing. I am reporting my 25% share) | ||
Residential Real Estate, Weston, MA | None (or less than $1,001) | $50,001 - $100,000 |
U.S. bank account #2 (cash) | $15,001 - $50,000 | None (or less than $201) |
Vanguard Precious Metals and Mining Fund | $1,001 - $15,000 | None (or less than $201) |
Northwest Mutual Insurance - whole life | $100,001 - $250,000 | $2,501 - $5,000 |
Jackson National Life Insurance Company - whole life | $50,001 - $100,000 | $5,001 - $15,000 |
Employment Agreements and Arrangements
Employer or Party | City, State | Status and Terms | Date |
---|---|---|---|
Kearney and Company | Alexandria, Virginia | Annual performance bonus to be paid when I depart the firm based on accomplishments up to that date. Bonus is paid pursuant to my employment agreement. | Jan. 16, 2015 |
Kearney and Company | Alexandria, Virginia | Senior Executive Retirement Plan (deferred compensation). Following my resignation, I will receive a lump-sum payment for my interest in the Kearney and Company Senior Executive Retirement Plan, a portion of which is not yet vested. Kearney and Company will accelerate the vesting of the unvested portion of my interest in the Senior Executive Retirement Plan and will pay me for this portion before I assume the duties of the position of Under Secretary. | Dec. 16, 2009 |
Kearney and Company | Alexandria, Virginia | 401(k) - I will continue to participate in this defined contribution plan. The plan sponsor will not make further contributions after my separation. | Dec. 16, 2008 |
Liabilities
Creditor Name | Creditor Type | Amount | Rate | Year Incurred |
---|---|---|---|---|
Wells Fargo Home Mortgage | Mortgage on Personal Residence | $500,001 - $1,000,000 | 3.875 | 2012 |
Wells Fargo (Cosigner) | Student Loan | $15,001 - $50,000 | 5.99 | 2010 |
Spouse's Employment Assets
Description | Value | Income Type | Income Amount |
---|---|---|---|
Vanguard 500 Index Fund IRA | $15,001 - $50,000 | $201 - $1,000 | |
Vanguard 500 Index Fund Roth IRA | $1,001 - $15,000 | $201 - $1,000 | |
Roth IRA, U.S. bank account (cash) | $1,001 - $15,000 | None (or less than $201) |
Do you know something about David L. Norquist? Send us an email at [email protected] or send a Signal message to 347-244-2134.
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