Accountant, Restricted Funds
General Summary
Who We Are
With three campuses along Colorado’s Front Range, Front Range Community College is the state’s largest community college. We enroll close to 28,000 students annually from our diverse service area, which offers a variety of cultural and recreational activities.
Each year approximately 5,000 FRCC students transfer to four-year universities. FRCC offers more than 36 career training programs that prepare students for immediate employment and rewarding careers. Last year, more than 5,000 high school students took concurrent enrollment classes with us, earning college credit without having to pay college tuition. And we were recently ranked as one of the “Top Online Colleges” in the country by Newsweek.
One of FRCC’s main goals is to offer educational excellence for everyone. The college’s strong commitment to student success means we start by creating an inclusive and equitable environment—one where both students and employees feel they belong and are supported. FRCC’s focus on diversity, equity and inclusion is woven into the fabric of our college conversations and decision-making processes. We are actively seeking to hire a workforce that reflects the diversity of our student body.
The college is also an emerging Hispanic Serving Institution. For us, becoming an HSI is an intentional commitment to being a college where our Latinx (and other historically marginalized) students thrive.
FRCC employees and leaders work hard to create a culture of collaboration, innovation and pride. We’re looking to hire people who share these values—along with our commitment to student success, equity and excellence.
Who You Are
As the Restricted Fund Accountant, you will work under the direct supervision of the Senior Restricted Fund Accountant. You will perform general accounting functions (preparation of reconciliations, period closes, projections, reports, general ledger research and analysis, and accounting for financial aid and other grants); represent department and College at internal and external meetings and as part of various assigned committees; collaborate with college staff to maintain grant operations guidelines, and grant operations procedures. You will provide training for Grant Managers/Administrators and Assistant Sr. Restricted Fund Accountant by providing leadership, training, development, management, and coordination of all aspects of fiscal compliance for designated Restricted Funds of the College.
In this role, you will support FRCC’s Strategic Plan by helping staff understand policies, guidelines and accounting principles related to grants and other restricted fund revenue streams as well as ensuring FRCC’s remains in compliance with State fiscal rules, and grant requirements.
Please note: This is an on-campus position with an opportunity for hybrid remote work. You need to be a Colorado resident on your first day of employment.
SALARY: $56,031 - $58,832 annually
SELECTION PROCESS: Position will remain open until filled with a priority deadline of June 21, 2023. This posting may be used to fill multiple or similar positions.
Preliminary screening will be made on the basis of completed application package submitted by candidate. In your application, please include a resume and cover letter that specifically addresses how your background and experience align with requirements, qualification and responsibilities of the Restricted Funds Accountant.
Primary Duties
General Accounting:
- Manage all aspects of accounting for assigned fund areas (grants, restricted funds, and financial aid funds) including performing reconciliations, preparing journal entries, and documenting procedures.
- Analyze journal entries to ensure departments are in compliance with budgeted expenditures and that all accounting entries are properly classified.
- Research charges to the wrong account, inaccurate pay rates, incorrect faculty salary distribution percentages, and incorrect student salary, etc., and make the appropriate correcting entries.
- Ensure sufficiency of funds and override purchase order entries as required.
- Implement and manage procedures and methods to execute and monitor accounting transactions.
- Investigate account coding/financial inconsistencies and make the necessary modifications or corrections in accordance with generally accepted accounting principles, governmental accounting standards, state regulations, and federal and state requirements.
Year-end tasks:
- Assist Senior Restricted Fund Accountant with preparation of year-end journal entries including the recording of outstanding receivables for all grants.
- Assist with the compilation of data for SURDS and FISAP reports.
- Serve as backup to Senior Restricted Fund Accountant for daily duties that must continue while year-end items are being completed.
Financial Reports and Billing:
- Prepare monthly reconciliation reports for all federal and state financial aid drawdowns and returns.
- Prepare and send out monthly and quarterly invoices for grants and scholarships with outstanding cash balances.
- Reconcile monthly and quarterly expenditures and verify that billing meets the requirements stated in the grants contract.
- Work with departmental managers to resolve discrepancies and any outstanding reconciling items.
- Work with sponsors to resolve questions or concerns regarding invoices received.
- Work with Senior Restricted Fund Accountant to resolve and improve processes.
Expenditures and Cost Transfers:
- Review and approve expenditures, cost transfer, some purchases, subcontracts, travel, and restricted fund payroll.
- Determine funding availability, allocate appropriate expenses to the grant, and verify the transaction is within the period of performance of the award.
- Ensure compliance of awards in accordance with OMB A-21, and State of Colorado and other grant regulations.
- Resolve problems by identifying and suggesting alternatives, i.e., reallocation of funds by budget category, processing journal entries and payroll redistributions for errors.
- Authorize modifications and adjustments as needed.
Grant Close Outs:
- Administer grants close out process.
- Prepare and submit notices of impending expiration 90-60-30 days prior to end date. Upon expiration, prepare and submit closeout memo.
- Work with departments to gather contractual and financial information in order to close the award within 60 to 90 days of the expiration date depending upon the funding source.
- Work to resolve any balance deficits in accounts.
- Advise on allowable or unallowable charges per OMB A-21 and research award terms.
- Make any modifications and corrections as necessary. Prepare and submit final financial status reports to Senior Restricted Fund Accountant for approval.
Department Liaison and Training:
- Assist Senior Restricted Fund Accountant in communicating with the Strategic Planning and Resource Development department to research and correct errors and discrepancies and to provide guidance, advice, and training in policy, procedures, and regulations related to grant administration.
- Participate annually in training sessions for new staff regarding policies and procedures related to grant administration. Collect and compile information on funded restricted funds for various College reports.
Required Competencies
- Generally Accepted Accounting Skills: Know and apply accounting theory and principles, recommend accounting policy and procedural changes, and ensure observance of professional standards and state rules.
- Communication Skills, oral and in writing: Communicate with staff and external customers regarding policies and guidelines. Provide training to staff regarding restricted funds policies, rules, and guidelines.
- Interpersonal Skills: Build relationships. Respond to customer inquiries in a timely and professional manner. Manage difficult conversations with customers and vendors. Ensure equitable accounting processes are in place, as they relate to restricted funds.
- Critical Thinking/Problem Solving: Research and work with customers to resolve accounting issues. Apply proper accounting principles to help ensure FRCC remains compliant with grant rules, Higher Education Accounting Standards, State Fiscal rules, regulations, and guidelines.
- Self-Management Skills: Handle daily work challenges confidently, is willing to adjust to multiple demands, shifting priorities, ambiguity and rapid change. Show resilience in the face of constraints, frustrations or adversity and demonstrates flexibility. Act with integrity and develops oneself.
Qualifications
Required Education/Training & Work Experience:
- Graduation from a college/university with a Associate’s degree in Accounting or closely related field,
OR
- 2 to 4 years of increasingly responsible professional accounting experience.
AND
- Knowledge/ability to operate standard office equipment; experience with computerized accounting systems, spreadsheet, and word processing applications.
- Ability to analyze complex systems and make recommendations.
- Knowledge of standard business practices and policies including budgeting and planning.
Welcoming. Respectful. Inclusive. Together, we are FRCC.