The Senior Account will prepare monthly financial reports in accordance with Generally Accepted Accounting Principles (GAAP) for internal use and review by Property Managers, Senior Staff, and the Board of Commissioners, and as required by external sources, investors and regulatory agencies for each of the properties and programs as assigned. Journal entries prepared as needed for completeness and accuracy.
- Review property incomes and expenses for each assigned program and property with the Senior Manager-Finance, Director of Finance, CFO, Director of Property Management, Property Managers, and other staff as appropriate and provide advice on any discrepancies, problems or questions on a monthly basis.
- Maintain schedules for each non-cash balance sheet account for each property and program which is assigned and prepare monthly/yearly, accruals to expense as appropriate, depreciation, prepaid expenses, mortgage, interest, and fees as well as any other related items.
- Review these accruals on a regular basis and update as needed.
- Coordinate the submission of financial reports to regulatory agencies and investors including HUD, other federal, state and local agencies as required for each program or property assigned.
- Monitor expenses to ensure compatibility with budgeted amounts and bring any variances to the attention of the CFO, Director of Finance, Senior Manager-Finance, Director of Property Management, Property Managers and other staff as appropriate.
- Monitor and review the balance and detail of accounts receivable and collection activity for each property or program assigned with Senior Manager-Finance, Director of Finance, Director of Property Management, Property Managers, and other staff as appropriate to discuss solutions for reducing the balance on a monthly basis.
- Ensures compliance with HUD financial management guidelines and regulations as well as the Mixed Finance/LIHTC Partnership Agreements.
- Coordinate the preparation of all year-end materials and schedules for annual audits for properties and programs assigned and assist audit staff with the preparation and submission of year-end financial reports
- Coordinate with other Finance Staff and Director of Property Management, Property Managers, and other staff as appropriate for the preparation of the annual operating budget.
- Supervise the preparation of special financial reports for each program or property as assigned.
- Review with Property Management and Finance Staff any issues with cash flow, collections and funding discrepancies as needed.
- Provide technical advice and support to ensure the efficient operations of the accounting department and assist to improve systems and processes as needed.
- Makes recommendations to the Director of Finance and CFO on issues related to accounting and program and or property management.
- Review assigned bank statement reconciliations on a monthly basis for outstanding items between the books and the bank’s records.
- Reviews weekly the accounts payable check runs for assigned properties and programs with other Finance Staff for determining sufficient funds, valid, and accurate recording in the program or property books
Experience & Skills Required
- Four-year degree from an accredited college or university with twenty-one (21) college-level credits in professional accounting subjects plus a minimum of (3) three years’ progressively responsible experience in accounting or finance.
- Additional education/experience is desirable.
- Will require a minimum of one (1) year on-the-job training to perform the job effectively.