September 2020 Newsletter




The General Ledger, Edition 3, September 30, 2020

Hannis T. Bourgeois Elects
New Managing Partner

Jay A. Montalbano, CPA, CVA, CCIFP, Managing Partner

Hannis T. Bourgeois, LLP is pleased to announce that Jay A. Montalbano, CPA, CVA, CCIFP, has been elected Managing Partner of the firm effective June 1, 2020. Mr. Montalbano will follow Monica L. Zumo, CPA, CGMA, who has held the position since 2012. As Managing Partner, Mr. Montalbano will oversee all business, financial and operational aspects of the firm’s offices in Baton Rouge, Denham Springs and New Orleans.
“I’m pleased to pass the torch on to Jay as the firm’s newest Managing Partner,” Zumo said in a statement.  “Jay is an invaluable member of the firm and a true champion of the firm’s culture and principles of professional excellence. As Managing Partner, Jay will continue to promote client service and strategic growth as the firm approaches its 100-year anniversary. He is a dedicated colleague, a trusted and passionate advisor, and a valued member of the community.”
Mr. Montalbano joined the firm in 1999 as a staff accountant. He earned his B.S. in Accounting from Louisiana State University, where he was an active member of numerous organizations. Currently, Mr. Montalbano serves as chair of the Society of Louisiana Certified Public Accountants (LCPA) and is a former president of the Baton Rouge Chapter of LCPA. He is a current board member and a former president of the South Central Chapter of Construction Financial Management Association, an active volunteer and former board member of Junior Achievement of Greater Baton Rouge & Acadiana. Jay is also a member of the advisory boards of Kappa Alpha Order and the LSU Department of Accounting.
Mr. Montalbano is a graduate of Baton Rouge Area Chamber’s Leadership Class of 2010, and a graduate of the Council for a Better Louisiana’s Louisiana Leadership Class of 2015. He has been recognized as “Forty Under 40” by both the Baton Rouge Business Report and the CPA Technology Advisor.

HTB Named A Top 50 Construction Accounting Firm

HTB was recently named one of the Top 50 Construction Accounting Firms by Construction Executive Magazine, coming in at 37th place. For this 2020 ranking of The Top 50 Construction Accounting FirmsConstruction Executive reached out to hundreds of U.S. accounting firms with a dedicated construction practice to learn how they were guiding their clients in the midst of ongoing economic uncertainty. Among their top concerns were the shortage of skilled workers, increasing construction costs, reducing risk and managing cash flow. Read more here

HTB Partners Honored By 
State Association

Mukti M. Patel CPA, was honored with the LCPA’s 2020 Women to Watch Emerging Leader Award. Jointly presented by the LCPA and the American Institute of CPAs, the award recognizes women who demonstrate characteristics that have enabled them to become inspirational leaders in the profession and in their communities. 

Jay A. Montalbano, CPA, CVA, CCIFP, was elected LCPA’s 2020 Board Chair. The Society of Louisiana CPAs (LCPA) is the premier association of accounting professionals in the state of Louisiana. They are dedicated to providing the best in professional education, networking opportunities, and resources to help all members make sense of the accounting world.

HTB Named 2020 “Best Places To Work”

Hannis T. Bourgeois, LLP was recently named as one of the 2020 Best Places to Work in Baton Rouge. The awards program is a project of the Greater Baton Rouge Business Report, the Greater Baton Rouge SHRM, an affiliate of the Society for Human Resource Management and Best Companies Group.

This survey and awards program was created in 2014 to identify, recognize and honor the best places of employment in Baton Rouge, benefiting its economy, its workforce and businesses. For more information on the survey process for the Best Places to Work in Baton Rouge program, visit

CARES Act – Retirement Plan and RMD Changes

After the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law on March 27, the IRS issued several notices with additional information and guidance related to the 2.2 trillion economic stimulus bill aimed at protecting the public health and economic impacts of COVID-19. Read more about these provisions here.

By: Bradley J. Tate, JD, LLM, Senior Manager

Product Surround

By: Robert C. Varnau, CPA, CGMA, JD, Senior Manager

There are two components of a product or service, the core product or service and the product or service surround. Most strategies focus on the core product or service yet it only generates 20% of the benefit to the customer whereas normally the product surround contributes the remaining 80%. In this article we will show you how to develop a strategy that takes into consideration both components. There is significantly more benefit in improving your strategic performance in the product surround. Read more here.





Copyright © 2020 Hannis T. Bourgeois, LLP

Our mailing address is:
Baton Rouge
2322 Tremont Dr.
Baton Rouge, LA 70809

Denham Springs
178 Del Orleans Ave., Suite C
Denham Springs, LA 70726

New Orleans
650 Poydras St., Suite 1200
New Orleans, LA 70130


Disclaimer of liability: Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

Want to change how you receive these emails?