Ira M. Cotler, Managing Director and Principal, is a recognized expert on financial and other matters relating to the corrections' marketplace. Mr. Cotler has been involved in various financial and development aspects relating to corrections for over 14 years. Prior to founding Correctional Finance & Consulting Solutions, Mr. Cotler served as both an investment banker/consultant to the corrections' industry and as the Chief Financial Officer of a leading private corrections firm. Mr. Cotler's experience from both serving and working within the correction’s market provides him with a unique understanding of the various financial issues which must be examined and analyzed by goverment in all types of corrections related transactions.
As a Vice President of the investment banking firm of Janney Montgomery Scott Inc., Mr. Cotler advised companies on financial matters relating to prison finance, contract structure, operational and financial controls and capital raising techniques. Mr. Cotler was the lead banker on several capital transactions relating to the financing of new or expanding correctional facilities working with banks and institutional investors to provide its clients with the best structure and terms available in the market
Mr. Cotler later joined a private corrections management firm as its Chief Financial Officer in 1996. During his tenure with the company, he was responsible for the financing and re-financing of all of the company’s correctional facilities, the acquisition and sale of facilities and operating contracts, as well as all contract (management and development agreement) negotiations, budgeting and bidding for the company's projects. Mr. Cotler established the price for which the company was willing to perform the service and provided clients with evidence supporting such costs. Mr. Cotler developed innovative contract structures and methodologies that created a bridge for the company's and its client agency's issues. In addition, Mr. Cotler assisted numerous governmental agencies in financing options relating to new projects or the re-financing of debt on existing projects.
As Chief Financial Officer, Mr. Cotler was also responsible for establishing the financial controls and reporting systems of 60 facilities and was directly responsible for working with and establishing the financial and accounting reporting mechanisms required by its governmental clients. These reports included among other items; billing and collections, overhead allocations, budgets, budget variances, and population reporting.
Mr. Cotler holds a Bachelors degree in Business Administration from the University of Massachusetts at Amherst and a Masters degree in Finance from the New York University Stern School of Business.