Project Accountant

JOB SUMMARY: 

Under the direction of the Manager of Project Accounting, the Project Accountant role will support a specialized area of accounting focused on the financial management of rental properties, including recording income, expenses, rent collection, preparing financial reports, participating in project audits and other tasks and duties as assigned. The position works in concert with General Accounting and Financial Services team members.

Essential Duties and responsibilities:

This list of duties and responsibilities is not all-inclusive and may be expanded to include other duties and responsibilities, as management may deem necessary from time to time.

• Under direct supervision, apply Generally Accepted Accounting Principles (GAAP) to record the following financial information with proper support:
  • All rental income for the Department of Housing and Urban Development (HUD) and/or Low-Income Housing Tax Credit (LIHTC) properties, as well as expenses related to property maintenance, utilities, repairs, taxes, and other operational costs.
  • Record monthly accruals as needed for each project, as well as proper recording of prepaid expenses.
  • Prepare and record monthly intercompany billing for project payroll expense and other reimbursements and fees.
  • Accurately record accounts receivable allowances for doubtful accounts for tenant past due balances and maintain proper record of approvals and tracking.
  • Initiate banking transactions including but not limited to transfers between restricted and unrestricted cash accounts.
• Generating financial reports, such as income statements, balance sheets, and cash flow statements, to provide property owners and stakeholders with a clear picture of the property's financial performance.  Prepare income statement fluctuation analysis on a monthly basis for each project.
• Help support HUD and LIHTC audits for assigned properties.  Complete real estate assessment center (REAC) annual reporting for HUD projects if applicable.
• Work in a collaborative team environment, working towards common strategic goals.
• Learn and practice high ethical standards in financial accounting and reporting.
• Obtain and maintain an adequate understanding of the accounting software, financial reporting and general ledger structure including the chart of accounts and intercompany accounting.
• Create and maintain audit trail of all activities involving the general ledger.
• Collaborate with operations team/property managers to help resolve issues in tenant subledgers.
• Assist with managing the balance sheet and oversight of cash.

• Complete assigned balance sheet account reconciliations timely and accurately while escalating issues to your manager for proper resolution.

• Recognize and communicate improper/unusual transactions to Director or Manager of Project Accounting.
• Assist in completion of 990 (Return of Organization Exempt from Income Tax) tax forms accurately and timely, if applicable.
• Document or update existing documentation for changes in accounting processes or procedures.
• Ability to define problems, collect data, establish facts, and propose logical solutions.
• Assist team members with other tasks and project work as needed.

ADDITIONAL AGENCY REQUIREMENTS:

• Must comply with agency and departmental policies and regulations.
• Must relate to individuals and families of varied ethnic and cultural backgrounds, ages, and economic circumstances with respect and dignity.
• Must support the Mission, Vision and Values of the Agency.

SUPERVISORY RESPONSIBILITIES:  

This position has no supervisory responsibilities.

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Upon offer, candidates must successfully complete the necessary background, caregiver, medical and any other checks required, according to program requirements. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION AND/OR EXPERIENCE: 

Position requires a bachelor’s degree in accounting.  An internship of up to two years or other related financial experience preferred.  Employee must possess some technical skills in the areas of financial data record keeping, financial reporting, and the use of business software tools.  A high level of customer satisfaction and co-worker respect must be demonstrated.  Employee should be ethical, dependable, a quick learner, flexible and able to manage multiple tasks at a time given a faster paced environment.  Attention to detail is a must.

CERTIFICATES, LICENSES, REGISTRATIONS:

The incumbent of this position must have a valid driver’s license and have reliable transportation to perform the essential duties of the role; a motor vehicle check (MVR) with a satisfactory driving record per the LSS Driver Safety Procedure is required, and ability to meet LSS auto insurance requirements.

LANGUAGE SKILLS:  

Ability to communicate both in verbal and written format, effectively and efficiently in job. Employee must be able to read and understand English and US Dollar currency.  Employee must be able to read, analyze, and interpret common technical journals, financial reports, and legal documents. Employee must be able to respond to common inquiries from customers, regulatory agencies, or members of the business community. Employee must have the ability to effectively present information to customers, vendors and other employees of the organization. 

COMPUTER SKILLS/TECHNOLOGY:

To perform this job successfully, an individual should have knowledge and proficiency in the use of software and financial applications, databases, spreadsheets, and word processing.

PHYSICAL DEMANDS/WORK ENVIRONMENT:

The physical demands and work environment described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to sit and use hands to finger, handle, or touch objects, tools, or controls. The employee frequently is required to talk or hear. The employee is occasionally required to stand; walk; and stoop, kneel, or crouch. The employee must occasionally lift and/or move up to 25 pounds, carrying and moving printed records and printer paper. Specific vision abilities required by this job include close vision and the ability to adjust focus.

The incumbent of this position works in a hybrid environment. Working from home is available for a substantial portion of work time, however, there may be time when it is required to be in the office for team support and meetings and during peak work times. Includes also working in an air-conditioned, office environment. The incumbent will also be exposed to outdoor weather conditions when traveling on company business. The noise level in the work environment is usually moderate.

TRAVEL:  

Position does not require regular travel but may be asked to travel on day and overnight trips as necessary.

LSS is an Equal Opportunity/Affirmative Action employer.