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David l norquist

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

Former Compensation Sources

See more financial disclosure details ⬇

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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