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Accounting Specialist

Position Title: Accounting Specialist
Reports To: Finance Director
Department/Division: Finance
FLSA Status: Exempt
Date: September 27, 2022
Employment Status: Full-Time

Position Summary
Responsible for protecting the assets of the Agency and performing all financial functions required for the successful administration of all funds received by the Agency in accordance with HUD and GAAP regulations. This is accomplished by conducting monthly bank reconciliations, preparing HUD subsidy drawdowns, calculating monthly assets, bookkeeping, and property management fees, preparing reports, filing unclaimed property reports to the State, and preparing year-end, semi-annual, and quarterly reports. Within these functional areas, this position is responsible for performance that positively contributes to the Agency receiving satisfactory ratings in HUD Agency performance evaluation systems such as Public Housing Assessment System (PHAS), Section 8 Management Assessment Program (SEMAP), or other future HUD evaluation systems..

The duties listed below illustrate the various types of work that may be performed. The omission of specific statements regarding duties does not exclude them from the position if the work is similar, related, or a logical assignment in association with this position. Undertakes and performs the following and all other work-related duties as assigned.

  1. Processes HUD Low Income Public Housing subsidy vouchers, creates journal entries to book receipt of funds, and prepares vouchers for approval. Maintains spreadsheet by recording all funds received for audit.
  2. Pulls Tenant Accounts Receivable (TARs) report & calculates monthly assets, bookkeeping, property management, and MTW fees. Completes journal entries to record charges and management fees.
  3. Performs tenant accounting functions such as entering and posting cash receipts to tenants' accounts in a timely and accurate manner, posting (credits/debits), balancing and reconciling tenant and landlord accounts, and ensuring timely updating of the system to reflect late rent.
  4. Prepares financial data schedule for HUD REAC yearly reporting and compliance requirements.
  5. Collects, prints, saves and records monthly utility bills for all privately managed sites and affordable housing sites for use in requesting HUD subsidy for each site.
  6. Enters and completes all data on HUD forms for operating subsidy requests on all AMPS of the Low-Income Public Housing Program and submits to HUD.
  7. Maintains, analyzes, and reconciles general ledger and subsidiary activity to identify accounting discrepancies and recommends corrective action and methods for resolution.
  8. Ensures assigned accounting, financial, and budgetary systems are maintained in accordance with Generally Accepted Accounting Principles (GAAP) and ensures compliance with applicable federal, state, and local laws and regulations and Agency rules and procedures.
  9. Prepares or reviews various financial statements, balance sheets, and internal and external reports, applying financial, statistical, and accounting principles and ensuring the timely flow of information to the Finance Director regarding the status of all programs within the area of responsibility.
  10. Maintains all financial records and files in compliance with protocols established by the Agency.
  11. Assists in the preparation of Audit Reports. Reviews account balances for AMPs. Analyzes general ledger accounts and completes necessary journal entries to correct any errors. Collects retainage information on all construction jobs in progress, verifies the amount with a copy of invoices, and prepares the journal entry to record information. Collects demographics for PH, HCV, and employees, collect bond data from banks, and enters information into Audit Reports. Processes and prepares journal entries for Solid Waste, Bad Debt Allowance, and AMP Notes.
  12. Pulls all drawdowns of funds from HUD eLOCCS for Hope VI, operating subsidies, Resident Opportunity and Self-Sufficiency, and Capital Fund Recovery grants. Enters audit info into the HUD system for submission.
  13. Maintains and reconciles a variety of ledgers and accounts for the Section 8 Housing Choice Voucher, Public Housing, and Tax Credit Programs; examines financial transactions to ensure accuracy and corrects financial records as necessary; Enters and posts rent cash receipts received from bank lockbox to the tenants' accounts in a timely and accurate manner.
  14. Posts (credits/debits), balances, and reconciles tenant and landlord accounts. Ensures timely updating of the system to reflect late rent and prepares late notices; applies/posts resident charges to accounts (e.g., late fee, court cost fee, returned deposit fee, maintenance/move-out charges).
  15. Reviews and processes the HCV HAP payments.
  16. Performs analysis and collection services on HCV portable accounts.
  17. Works with department supervisors in reconciling tenant accounts to ensure credit/debit balances tie to the general ledger and to the computer-generated and manual sub-ledgers.
  18. Enters and posts journal entries to allocate bank fees and to allocate maintenance work orders to proper accounts.
  19. Balances Security Deposit, Accounts Receivable, and Utility Reimbursement accounts for each AMP in the general ledger. Transfers necessary funds between bank accounts and prepares journal entries.
  20. Processes monthly draw and obligations for the Capital Fund Program, prepares any budget revisions and submits to HUD. Enters approved revisions into the Accounting job cost system. Verifies expenses posted to the general ledger for the Capital Fund Program and related grants; verifies the eligibility of expenses, classifications, and availability of funds.
  21. Verifies corrections by reporting for each grant through accounting and job cost systems. Updates grant funds obligations on HUD's eLOCCS website in accordance with the established deadline. Prepares and submits final grant close-out forms to HUD when all funds have been expended in accordance with the grant agreement and any applicable funds are reimbursed.
  22. Reclassifies expenses for sites upon request. Reviews all AMPs at year-end and prepares necessary entries to correct as needed.
  23. May perform the reissuance of checks to replace payments lost, damaged, or returned to the Agency and reviews regularly returned checks to ascertain whether indicative of skips or incorrect mailing addresses.

Education and Experience
Bachelor's degree from an accredited college or university with major coursework in Accounting, Finance, or a related field. Three (3) years of accounting experience in public housing preferred or an equivalent combination of education and experience.

Knowledge and Skills

  1. Must have knowledge of the State General Statutes, HUD Financial Accounting and Budgeting Requirements, HUD notices and regulations, Agency policies and procedures, and Generally Accepted Accounting Principles.
  2. Ability to perform financial analysis.
  3. Ability to perform a job independently upon receiving general instructions.
  4. Must assume agency-wide fiscal responsibility.
  5. Computer skills (Excel, Word, PowerPoint), general office machines.
  6. Advanced ability to read and understand advanced literature, book reviews, technical journals, financial reports, and legal documents.
  7. Advanced ability to understand and apply fundamental concepts of theories, work with advanced mathematical operations methods, and functions of real and complex variables.
  8. Must be skillful in prioritizing, problem-solving, formulation, reasoning, analyzing, and proofreading.
  9. Sensitivity to and experience working with the ethnically and culturally diverse individuals, communities, agencies, and organizations which comprise the constituency of the Agency.
  10. Ability to establish and maintain effective, professional, and tactful working relationships with co-workers and persons outside the Agency.

Supervision Controls
The employee receives instructions from the Finance Director. Courses of action, deadlines, and priorities are established by policy, procedure, rules, or regulations, depending upon the assignment. Routine duties are initiated by the employee without direct supervision. The employee has no supervisory duties.

Guidelines include established federal regulations, policies and procedures, traditional practices, reference materials such as dictionaries, desk manuals, handbooks, and the Internet. If guidelines do not cover a situation, the employee consults the supervisor. Sound judgment, consistency, and accuracy are needed to perform duties successfully.

The employee performs a variety of routine and generally related tasks. The course of action is determined by established procedures, the supervisor, or the employee. Tasks are to be coordinated, integrated, and/or prioritized to be accomplished within set deadlines. Routine work is relatively structured, and problems may require consultation with the supervisor.

Scope and Effect
The employee's work affects all Agency employees and outside partnerships. A high degree of accuracy is required to ensure that financial reporting is correct and that adequate funding is continuously made available. Successful accomplishment of tasks by the employee can enhance the Agency's ability to provide housing that is decent, safe, and sanitary and to render adequate services for its residents.

Personal Contacts
The employee has contact with co-workers, residents, landlords, partners, and other housing agencies for the purpose of giving or exchanging information, resolving problems, and negotiating.

Physical Requirements

  1. Must be able to sit and/or stand for up to eight (8) hours at a time while performing work duties.
  2. Work is principally sedentary but may involve some physical exertion, such as kneeling, crouching, or lifting to obtain files and records, and eyestrain from working with computers and other office equipment.
  3. Must be able to bend, stoop, push, and pull in the performance of office-related duties.
  4. Must be able to use fingers bilaterally and unilaterally to operate office equipment.
  5. Must have vision and hearing corrected to be able to perform essential job functions.
  6. Must be able to perform essential job functions in an environment that will sometimes include increased levels of work-related stress.
  7. Must maintain a professional appearance and portray a positive image for the Agency.
  8. Must be able to maintain punctuality and attendance as scheduled.
  9. An employee may request a reasonable accommodation to mitigate any of the physical requirements listed above.

Work Environment
Work involves the normal risks or discomfort associated with an office environment and is usually in an area that is adequately cooled, heated, lighted and ventilated.

Other Requirements

  1. Must possess a valid driver's license and maintain a good driving record.
  2. Must be available for occasional overnight travel for training.
  3. Must pass employment drug screening.
  4. Must pass a criminal background check.
  5. Must work with the highest degree of confidentiality.

The Washington Housing Authority is an Equal Opportunity Employer. This job description is subject to change and in no manner states or implies that these are the only duties and responsibilities to be performed. The duties herein are representative of the essential functions of this job. This job description reflects management's assignment of functions; however, it does not prescribe or restrict tasks that may be assigned. Nothing in this document restricts management's right to assign or reassign duties and responsibilities at any time. The qualifications listed above are guidelines, and other combinations of education and experience that could provide the necessary knowledge, skills, and abilities to perform the job may be considered at the discretion of the Executive Director.
Employment with the Washington Housing Authority is on an "at-will" basis. Nothing in this document is intended to create an employment contract, implied or otherwise, and does not constitute a promise of continued employment.

Disclaimer: The above statements describe the general nature, level, and type of work performed by the incumbent(s) assigned to this classification. They are not intended to be an exhaustive list of all responsibilities, demands, and skills required of personnel so classified. Job descriptions are not intended to and do not imply or create any employment, compensation, or contract rights to any person or persons. Management reserves the right to add, delete, or modify and/or all provisions of this description at any time as needed without notice. This job description supersedes earlier versions.