Greystone And Company Inc
Project Accountant - Affordable Housing
Greystone And Company Inc, Raleigh, North Carolina, United States, 27601
Harmony Housing Affordable Development Inc. (HHAD) is among the largest real estate developers of affordable rental housing in the United States. Our mission is to positively impact communities by creating and preserving quality affordable housing for low-wealth households. HHAD is a wholly owned subsidiary of Harmony Housing, a 501c3 not-for-profit owner and operator of affordable housing.
We are seeking a detail-oriented and experienced
Project Accountant
to join the expanding
Finance Team . This individual will play an integral role in the growth of HHAD’s affordable housing development business. The ideal candidate will be responsible for managing the financial aspects of affordable housing projects, ensuring compliance with regulatory requirements, and providing accurate financial reporting to stakeholders. This position is responsible for all aspects of development project accounting and is the primary accounting liaison to internal and external partners for assigned projects. Key responsibilities include establishing and maintaining accounting systems to track financial and job/cost information for development projects with multiple funders; ensuring that recording structures apply the appropriate generally accepted accounting principles (GAAP); and oversight of construction project funding and draw processes to ensure the timely distribution of costs to the appropriate funding sources. Primary Duties and Responsibilities: Project Accounting:
Process all accounts payable for development projects and ensure that payments are properly authorized, coded, documented, and are mathematically accurate; maintain accurate and comprehensive payment schedules and cost allocations to ensure accurate repayment of all advances Prepare monthly interest invoices for all pre-development advances as applicable Create project-specific draw procedures and process draw requests for various funders, including banks, LIHTC syndicators, and governmental entities Maintain accurate records of all transactions related to funding draws, including invoices, receipts, and payment records Assist in monitoring project budgets, ensure development sources and uses remain balanced, and provide insights into cost management and financial performance Participate in project meetings and contribute to financial decision-making processes
Revenue Management :
Review Developer Agreements to accurately predict accrued developer fees earned and anticipated receipt Reconcile development project receivables and provide a monthly report on HHAD pre-development advances to development projects and estimated repayment schedules
Regulatory Compliance :
Ensure continuous adherence to local, state, and federal regulations related to affordable housing financing and reporting Prepare and submit required reports to funding agencies, regulatory bodies, and stakeholders in a timely manner Review project partnership and financial documents, and ensure funding terms and conditions are consistently maintained
Experience, Skills, and Abilities Required: Bachelor’s degree in accounting, finance, construction management, or a related field Minimum of three (3) years of increasing responsible accounting experience with an emphasis in real estate or construction accounting Experience in accounting processes for LIHTC and tax-exempt bond properties, and familiarity with affordable housing funding programs and compliance regulations, is a plus Demonstrated excellent analytical, problem-solving, and decision-making skills High-energy, accurate, organized, highly detailed, and results-oriented professional with demonstrable ability to successfully manage multiple projects Excellent written and oral communication skills with an ability to clearly and concisely express ideas, thoughts, and concepts verbally and in writing Strong financial and analytical skills, as well as advanced computer skills (Excel, Word, Adobe, and SmartSheet) HHAD is an EEO employer. A satisfactory background check will be required as part of the selection process. Equal Opportunity Employer. This employer is required to notify all applicants of their rights pursuant to federal employment laws.
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Project Accountant
to join the expanding
Finance Team . This individual will play an integral role in the growth of HHAD’s affordable housing development business. The ideal candidate will be responsible for managing the financial aspects of affordable housing projects, ensuring compliance with regulatory requirements, and providing accurate financial reporting to stakeholders. This position is responsible for all aspects of development project accounting and is the primary accounting liaison to internal and external partners for assigned projects. Key responsibilities include establishing and maintaining accounting systems to track financial and job/cost information for development projects with multiple funders; ensuring that recording structures apply the appropriate generally accepted accounting principles (GAAP); and oversight of construction project funding and draw processes to ensure the timely distribution of costs to the appropriate funding sources. Primary Duties and Responsibilities: Project Accounting:
Process all accounts payable for development projects and ensure that payments are properly authorized, coded, documented, and are mathematically accurate; maintain accurate and comprehensive payment schedules and cost allocations to ensure accurate repayment of all advances Prepare monthly interest invoices for all pre-development advances as applicable Create project-specific draw procedures and process draw requests for various funders, including banks, LIHTC syndicators, and governmental entities Maintain accurate records of all transactions related to funding draws, including invoices, receipts, and payment records Assist in monitoring project budgets, ensure development sources and uses remain balanced, and provide insights into cost management and financial performance Participate in project meetings and contribute to financial decision-making processes
Revenue Management :
Review Developer Agreements to accurately predict accrued developer fees earned and anticipated receipt Reconcile development project receivables and provide a monthly report on HHAD pre-development advances to development projects and estimated repayment schedules
Regulatory Compliance :
Ensure continuous adherence to local, state, and federal regulations related to affordable housing financing and reporting Prepare and submit required reports to funding agencies, regulatory bodies, and stakeholders in a timely manner Review project partnership and financial documents, and ensure funding terms and conditions are consistently maintained
Experience, Skills, and Abilities Required: Bachelor’s degree in accounting, finance, construction management, or a related field Minimum of three (3) years of increasing responsible accounting experience with an emphasis in real estate or construction accounting Experience in accounting processes for LIHTC and tax-exempt bond properties, and familiarity with affordable housing funding programs and compliance regulations, is a plus Demonstrated excellent analytical, problem-solving, and decision-making skills High-energy, accurate, organized, highly detailed, and results-oriented professional with demonstrable ability to successfully manage multiple projects Excellent written and oral communication skills with an ability to clearly and concisely express ideas, thoughts, and concepts verbally and in writing Strong financial and analytical skills, as well as advanced computer skills (Excel, Word, Adobe, and SmartSheet) HHAD is an EEO employer. A satisfactory background check will be required as part of the selection process. Equal Opportunity Employer. This employer is required to notify all applicants of their rights pursuant to federal employment laws.
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