Former NBAA president Jack Olcott weighed in on the NBAA contretemps with a letter sent to member representatives. In it, he said Robert Warren’s letter reflects a “deficiency of knowledge” of the organization. Olcott, who served as president of NBAA from May 1992 until Shelly Longmuir succeeded him last July, challenged several of the “troubling management issues” that Warren enumerated.
According to Olcott, the financial management of NBAA during his watch was “sufficiently prudent” to oversee a tripling of NBAA’s revenues and quadrupling of its uncommitted reserves. And while membership increased 2.5 times, staff size went up only 1.7 times during the same 11-year period. He said the association received unqualified audits with strong endorsement for its financial management.
NBAA’s legal counsel reviewed all significant contracts, he said, and all requests for expenditures above a certain level required his signature. He personally reviewed all checks, and travel requests were approved “via a traveler scheme.”
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