Regarding our debt, I would like to remind everyone that details of our borrowings are included in our Form 10-K. In those details we discussed all of Volt’s current borrowing is secured either by cash or by other assets, primarily account receivable from our North America staffing operations. Because of the losses we have incurred in recent years, primarily associated with our statement, our borrowings are primarily on a cash-secured or asset backed basis, with borrowing at the percentage of the qualifying receivables. Borrowing under the accounts receivable securitization program and other short term borrowings decrease by $38.6 million and the collateral for foreign currency credit lines and banking facilities decrease by $21.3 million.
In summary, both demonstrated strong execution across our turnaround goals and strategic priorities to drive shareholder value as evidence by improved margin rates and net results. We’ve made steady progress in creating a more highly focused and profitable Volt especially in our staffing segment. We have strong momentum moving into 2015 and are excited about the opportunities ahead.
Before we turn to Q&A, I would like to address the news about my decision to step down as CFO. I was hired to help the company complete its restatement process, strengthen the company’s financial controls, build a strong finance team and partner with Ron in establishing and executing on the strategic plan. We have achieved many of the most critical milestones in this process over the past year and we’ve also made significant progress in improving both profitability and focusing the business for long term success. It’s now time for me to look for a new challenge but I am committed to ensuring a successful transition. Now, we’ll be happy to take your questions. Operator, please open the call to Q&A.
Operator
We will now begin the question-and-answer session. To ask a question, you may press star, then 1, on your touch-tone phone. If you are using a speaker phone, please pick up your hand set before pressing the keys. To withdraw your question, please press star and then 2. At this moment, we’ll pause momentarily to assemble a roster. Our first question comes from Joe Gomes with Wm Smith & Co. Please go ahead.
Joe Gomes, Wm Smith & Co
Good morning Ron and Jim and the first thing I just wanted to say: congratulations on the many accomplishments you guys had during this year, especially in terms of re-focusing the company on the core staffing business. My first question is on the staffing operating margin – increased nicely as you mentioned in the 4th Quarter and for the full year was up to 1.63% and I was just trying to get an idea of where your goals for that would be, for the coming fiscal year and going forward?
Ron Kochman, President and Chief Executive Officer
Good morning Joe and thanks for your comment. We have spoken previously about getting, sustaining profitability up to 2% to 4% – and we’ll just say that we all achieved that level of target profitability as we execute on our plan and focus on our core competencies, and again both from the skill sets and industries where we are the strongest. We are telling you one of the three-year-plan and we’d just continue to execute it going forward.
Joe Gomes, Wm Smith & Co
Okay. And just – you’ve mentioned, too, about the move of the enterprise account to the national account management focus. I was just wondering how that move was going? Where you guys are, somewhat, in that move? What number of the enterprise accounts have already been moved over to that new national accounts program?
