Development Accountant
- Full-time
Company Description
Abode Communities is a regional non-profit architectural, real estate development and property management firm. Abode Communities’ affordable housing portfolio consists of more than 39 properties with over 2,600 units which generates over $24 million in annual revenue.
Job Description
Working under the direction of the Assistant Controller, the Development Accountant will be responsible for the preparation of loan draws and maintenance of all ledgers in the development or rehabilitation stage, until the property is placed in service.
There is a high degree of independent performance in the assigned accounting and financial activities. Responsibilities include direct contact with Project Managers and other staff, lenders, contractors and vendors regarding invoices/billings, revenue and expenditure accounts, financial reporting system and development or construction related activities. This position must:
- Be service-oriented with high emphasis on employee and client needs
- Possess the initiative and ability to work independently with minimal direction
- Maintain a high level of productivity in a high volume, fast-paced environment
- Possess the ability to work accurately and quickly under deadlines with frequent interruptions
ESSENTIAL DUTIES
- Prepare, maintain and submit funding draws to numerous financial institutions for acquisition, predevelopment and construction phases of affordable housing projects.
- Track contractor and subcontractor conditional and unconditional lien releases prior to issuing payment.
- Work with Development on draw funding; coordinate with the accounts payable staff timely payment processing of vendor invoices included in the draw request.
- Verify and process deposits; review cash disbursements activities.
- Prepare journal entries; review general ledger, and maintain/update certain balance sheet and income/expenses schedules. Reconcile monthly accounts receivables, accounts payable, cash to bank, and equity equivalent (EQ2) advances between Abode Communities and the development entity; reconcile loan draws with job cost detail report. Also reconcile job cost detail report to general ledger balances.
- Prepare audit schedules and audit preparatory material for annual audits, and work with external auditors to deliver final audit reports before annual filing deadlines.
- Performance of other duties as required to further Abode Communities’ mission in the provision of affordable rental housing.
Qualifications
Bachelor's degree and a minimum of two years' experience in accounting, preferably with experience in affordable housing, construction accounting, nonprofit accounting, property management and multiple sets of books.
Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations.
Ability to write clear reports and other types of business correspondence.
Ability to analyze and monitor financial statements and budgets and other reports.
Ability to work with basic mathematical concepts as applied to accounting such as fractions, percentages, ratios, and proportions to practical solutions.
Ability to apply logical thinking to effectively manage and solve problems.
Effectively handle situations with complex variables where only limited information exists.
Ability to work well with others.
Additional Information
This full-time exempt position comes with a competitive benefits package that includes: Medical, Dental, and Vision coverage, Flex Spending Account, company-paid Long-Term Disability, Basic Life and AD&D, 401(k) plan with Employer Match.
Our organization is committed to promoting its employees’ work-life balance by offering a 9/80 alternative workweek schedule ( 9-hour workday Monday-Thursday and every other Friday off) and generous paid time off policies (Vacation starting at 12 days per year, 12 Sick days, 10 Company Paid Holidays).
Abode Communities is an equal opportunity employer.