Principal Project Accountant

Description

Class specifications are intended to present a descriptive list of the range of duties performed by employees in the class. Specifications are not intended to reflect all duties performed within the job.

The Principal Accountant is the fifth level of a five-level accountant series. Incumbents are responsible for performing various duties over an operational function within the Finance Department. The Principal Accountant is distinguished from the Senior Accountant by its higher operational and technical responsibility. The Principal Accountant is distinguished from the Finance Manager or Accounting Manager, which have managerial responsibility.

 

The Principal Accountant performs complex financial analysis requiring advanced knowledge and technical competency in various financial functions such as budgeting, financial planning, and cost analysis; participates in the District’s project budget development and monitoring efforts; monitors capital improvement projects; conducts special fiscal and cost accounting studies; and prepares a variety of financial spreadsheets and reports supporting analytical activities. The Principal Accountant requires critical and independent thinking, should be able to handle multiple tasks, and should be able to work with minimal supervision.

Examples of Duties

The following essential job functions are typical for this classification. Incumbents may not perform all of the listed job functions and/or may be required to perform additional or different job functions from those set forth below to address business needs and changing business practices. Management reserves the rights to add, modify, change, or rescind the work assignments of different positions and to make reasonable accommodations so that qualified employees can perform the essential functions of the job.

• Performs Project accounting processes including grants compliance and billings to Federal and State agencies.
• Performs cost accounting processes including local government subsidy compliance and billings.
• Works with engineers on project budgeting, project development, and projections. Prepares and reviews a variety of financial reports and analyses.
• Compiles data, analyzes, and submits state loans billing for various projects. Prepares various long-term debt draw down schedules and projections.
• Assists in evaluating, developing, and implementing project accounting procedures; coordinates and documents changes in project accounting procedures.
• Evaluate and analyze monthly general ledger accounts and reconcile to the ledger.
• Maintains and develops fixed asset records, maintains, and manages the District’s records of assets for cost analysis and projections.
• Participates in the annual budgeting process and expenditure projections.
• Maintains General Ledger.
• Handles job stress.
• Interacts effectively with others in the workplace.
• Follows all workplace and job safety rules and policies.
• Performs other duties of a similar nature or level as required.

 

Position-specific responsibilities may include:

• Preparing District annual project budget and budget versus actual analysis.
• Reconciling monthly work-in-progress accounts.
• Maintaining financial accounting records for all projects. 
• Reporting and compliance with all state and federal grants and loans billings.
• Reporting and compliance with local governmental subsidy programs and billings.
• Administration of fixed asset process, maintaining fixed asset master records, conducting fixed asset physical inventory, and managing District’s assets; and complying with GASB 34 requirements.
• Performing project cost accounting, including analysis and reporting.
• Thorough understanding of internal accounting controls. 
• Performing special assignments.
• Performing all accounting processes through a comprehensive computer software system.

Typical Qualifications

The following generally describes the knowledge and ability required to enter the job and/or be learned within a short period of time in order to successfully perform the assigned duties.

Knowledge of:

• Accounting principles.
• Project and cost accounting principles.
• Pertinent federal, state, and local laws, codes, and regulations.
• Modern and complex principles and practices of financial record keeping and reporting.
• Generally Accepted Accounting Principles (GAAP).
• Various aspects of governmental accounting administration.
• Applicable federal, state, and local laws and regulations.
• Automated financial systems and techniques.
• Governmental Accounting Standards.

 

Ability and Skills in:

• Operating a 10-key machine.
• Evaluating accounting procedures, accounting internal controls, and systems.
• Recommending and implementing procedural improvements.
• Reading, comprehending, and analyzing financial statements.
• Using computers and related software applications.
• Preparing spreadsheets on financial statements and/or reports.
• Auditing and analyzing financial data and information.
• Communication, interpersonal skills as applied to interaction with coworkers, supervisor, the general public, etc. sufficient to exchange or convey information and to receive work direction.

 

EDUCATION AND EXPERIENCE GUIDELINES

Any combination of education and experience that would likely provide the required knowledge and abilities is qualifying. A typical way to obtain the knowledge and abilities would be:

 

Education/Training: Bachelor’s Degree in Accounting, Business Administration, or a related field. Certified Public Accountant (CPA) preferred. 

 

Experience: Eight years of accounting experience sufficient to successfully perform the essential duties of the job such as those listed above. Capable of working with a comprehensive computer software system, such as PeopleSoft (J.D. Edwards). Proficient in using a PC, including Excel and Word. Experience with Excel macros and Access a plus; or an equivalent combination of education and experience sufficient to successfully perform the essential duties of the job such as those listed above.

 

PHYSICAL DEMANDS AND WORKING ENVIRONMENT

The conditions herein are representative of those that must be met by an employee to successfully perform the essential functions of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential job functions.

 

Environment: Standard office setting.

Physical: Positions in this class typically require grasping, talking, hearing, seeing, and repetitive motion. Sedentary Work: Exerting up to 10 pounds of force occasionally and/or a negligible amount of force frequently or constantly to lift, carry, push, pull or otherwise move objects, including the human body. Sedentary work involves sitting most of the time. Jobs are sedentary if walking and standing are required only occasionally and all other sedentary criteria are met. Incumbents require sufficient physical ability to work in an office setting; stand or sit for prolonged periods of time; operate office equipment including use of a computer keyboard; push, pull, lift, and/or carry light amounts of weight; verbally communicate to exchange information. 

 

Vision: See in the normal visual range with or without correction; vision sufficient to read computer screens and printed documents; and to operate assigned equipment.

 

Hearing: Hear in the normal audio range with or without correction.

 

DISASTER SERVICE WORKERS

All Orange County Water District employees are designated Disaster Service Workers through state law (California Government Code Section 3100-3109). Employees are required to complete all related training as assigned, and to return to work as ordered in the event of an emergency.