In June 2006, the United States Marshals Service (USMS) awarded PRM and its prime contractor, Maximus a contract to be the court-ordered monitors of a $46 million dollar commercial waste disposal company in Danbury, CT.   PRM managed this engagement for Maximus. 

 The first order of business was to develop a long-term monitoring plan acceptable to the USMS.  The objectives of the long-term monitoring plan were to provide the USMS with reasonable assurance that the value of the assets of the corporation and the income stream generated from the operation of the business generated were not dissipated or wasted.  The plan established a means of providing reasonable assurance that any attempt by the owners and operators of the corporation to reduce the value of the corporation’s assets or diminish or divert revenue would be discovered on a near real-time basis so that proper steps could be taken by the USMS to prevent further dissipation and reduce and reduce any threat to the value of the assets.  

The long-term monitoring plan provided for the monitoring of assets, identification and monitoring of liabilities, and the monitoring of business operations.  It specified certain activities to be undertaken in carrying out the monitoring activities including the oversight of certain accounts, the review of certain financial transactions, financial statements and account analysis, and the status and financial position of the corporation.  The long-term monitoring plan was approved by the USMS and the following activities undertaken were:

Review and reconciliation of daily sales and deposits;

Review of accounts payable and accounts receivable records, noting any increases, delays in payment or other discrepancies;

Reconciliation of check registers to bank statements;

Review of type and location of fixed assets, noting any changes that might impact the financial condition of the company;

Review of all investment accounts and other liquid assets to ensure that they did not diminish in value;

Review of payroll records for unusual or extraordinary payments, unusual bonus payments, or unusual payments or loans to family members;

Review of financial statements to ensure historical financial trends remained constant;

Reconciliation of check registers and disbursement journals with bank statements;

Analysis of accounts payable aging reports and review of vendor payments;

Approval of all checks issued by the corporation before issuance;

Review of cash management procedures to ensure that procedures would not allow for the unauthorized use or transfer of funds;

Regular review of inventory to ensure value of inventory was not dropping and inventory was not being moved or transferred to other locations;

Regular review of overall business operations to ensure that there were no changes or modifications being made to ongoing business operations that might impact the financial condition of the business.