Inside Higher Ed
Director of Grant, Restricted and Endowment Funds Accounting
Inside Higher Ed, Benton, Maine, United States
Director of Grant, Restricted and Endowment Funds Accounting
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Job Description Department:
Office of Financial Services
Pay Rate Type:
Salary
Employee Type:
Job Summary:
The Grants, Restricted, and Endowment Funds Accounting Director is responsible for the comprehensive financial management of the College's sponsored projects, donor-restricted gifts, and endowed funds. This position ensures financial compliance with all applicable regulations, donor agreements, and institutional policies, while providing expert guidance to faculty, staff, and leadership. The ideal candidate will be a meticulous, detail-oriented professional with a strong understanding of fund accounting principles and a commitment to providing excellent customer service. The successful candidate will become a key member of the Financial Services team, which has a diverse range of backgrounds and experience. The team values kindness, clear communication, curiosity, accountability, and pride in Colby.
Essential Functions Colby College actively supports the Americans with Disabilities Act and will consider reasonable accommodations to enable individuals with disabilities to perform the essential functions of the position.
Sponsored Programs (Grants & Contracts) Accounting:
Manage the full life cycle of grants and contracts, including pre-award budget review, modifications and extensions, post-award invoicing and reporting, and close-out/reconciliation.
Collaborate with principal investigators (PIs) to develop and review proposal budgets, ensuring they align with sponsor guidelines and institutional policies (e.g., Uniform Guidance).
Establish new grant accounts in the financial system and monitor expenditures for compliance with approved budgets and award terms.
Provide budget inputs to the Office of Financial Planning & Budget for the annual budget and quarterly forecast updates.
Support audit and compliance reporting and deliverables, including the FISAP, Schedule of Expenditures of Federal Awards, A-133 audit, financial statement audit, and the NSF Research survey.
Restricted and Endowment Fund Accounting:
Maintain accurate accounting records for all donor-restricted gifts and endowed funds. Review new gift agreements and partner with Advancement and Finance leadership to ensure correct revenue recognition in accordance with GAAP.
Monitor daily gift posting integration and work with Advancement colleagues to resolve differences; reconcile gift reporting to the general ledger on a monthly basis.
Ensure that fund usage is in strict accordance with the donor’s intent as outlined in gift agreements.
Support departments with accessing reporting, providing reconciliation support, and providing guidance regarding their restricted fund usage.
Process and record endowment pooled investment activity, provided monthly by the investment office, as well as transactions for separately invested assets.
Perform endowment unitization calculation and monthly reconciliation of all endowment activity.
Post the annual endowment spending allocation in compliance with the institution's spending policy and UPMIFA.
Provide policy and process instructions for endowed prizes and scholarships, oversee correct use and accurate recordkeeping.
Serve as primary finance contact with the outsourced service provider for life income gifts; periodically review financial reporting provided by third‑party and record results to the general ledger.
Serve as the primary point of contact for donors, financial advisors and college leadership on the receipt and liquidation of non‑cash contributions and donated securities.
General Accounting & Compliance:
Prepare and post journal entries related to sponsored and restricted fund activities.
Perform account reconciliations to ensure the accuracy and integrity of financial data.
Assist in the preparation of audit schedules and provide necessary documentation for the annual financial audit, the Uniform Guidance (Single Audit), and the 990 tax return.
Maintain a strong working knowledge of relevant accounting standards, including GAAP and fund accounting principles.
Recommend and implement internal control improvements to safeguard restricted and endowed funds.
Training & Support:
Serve as a primary resource for faculty, staff, and administrators on financial and compliance matters related to grants and restricted funds.
Provide training and guidance on institutional policies and procedures, as well as regulatory requirements.
Communicate proactively with stakeholders to address questions and resolve financial issues.
Position Qualifications Minimum Qualifications
Bachelor's degree in Accounting, Finance, or a related field.
Minimum of 5-7 years of experience in accounting or financial management, preferably in a higher education or nonprofit environment.
Demonstrated knowledge of Generally Accepted Accounting Principles (GAAP).
Experience with and a solid understanding of Uniform Guidance and fund accounting.
Proficiency in financial/accounting software and advanced skills in Microsoft Excel.
Strong analytical, organizational, and problem‑solving skills with a high degree of attention to detail.
Excellent written and verbal communication skills, with the ability to explain complex financial information to non‑financial audiences.
Preferred Qualifications or Skills
Experience with a major ERP system (Workday a plus).
Certified Public Accountant (CPA) or Certified Research Administrator (CRA) credential.
Experience with endowment accounting principles and UPMIFA (Uniform Prudent Management of Institutional Funds Act).
Physical/Mental Demands
To successfully perform the essential functions of this position, an employee must be able to maintain appropriate confidentiality with regard to employee data, documents, issues, and privacy of others.
The ability to comply with firm deadlines is required to successfully perform the essential function of this position.
There may be occurrences of employees, past employees, members of the general public, and others who express opinions and emotions, requiring professional, diplomatic interaction.
While performing the essential duties, an employee would frequently be required to move around the office space as well as within hallways, meeting rooms, and other parts of the campus.
There may be multiple/daily instances of prolonged personal computer use, including keyboard and mouse usage and viewing a computer monitor.
An employee must frequently lift and/or move up to 10 pounds and occasionally lift and/or move up to 35 pounds to perform essential position functions.
Specific vision abilities required by this position include close vision, distance vision, and ability to adjust focus.
The overall work environment requires the mental ability to shift focus quickly due to interruptions; an employee must be able to mentally track multiple projects and tasks as well.
The noise level in the work environment is usually moderate, but may include unexpected sounds.
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Job Description Department:
Office of Financial Services
Pay Rate Type:
Salary
Employee Type:
Job Summary:
The Grants, Restricted, and Endowment Funds Accounting Director is responsible for the comprehensive financial management of the College's sponsored projects, donor-restricted gifts, and endowed funds. This position ensures financial compliance with all applicable regulations, donor agreements, and institutional policies, while providing expert guidance to faculty, staff, and leadership. The ideal candidate will be a meticulous, detail-oriented professional with a strong understanding of fund accounting principles and a commitment to providing excellent customer service. The successful candidate will become a key member of the Financial Services team, which has a diverse range of backgrounds and experience. The team values kindness, clear communication, curiosity, accountability, and pride in Colby.
Essential Functions Colby College actively supports the Americans with Disabilities Act and will consider reasonable accommodations to enable individuals with disabilities to perform the essential functions of the position.
Sponsored Programs (Grants & Contracts) Accounting:
Manage the full life cycle of grants and contracts, including pre-award budget review, modifications and extensions, post-award invoicing and reporting, and close-out/reconciliation.
Collaborate with principal investigators (PIs) to develop and review proposal budgets, ensuring they align with sponsor guidelines and institutional policies (e.g., Uniform Guidance).
Establish new grant accounts in the financial system and monitor expenditures for compliance with approved budgets and award terms.
Provide budget inputs to the Office of Financial Planning & Budget for the annual budget and quarterly forecast updates.
Support audit and compliance reporting and deliverables, including the FISAP, Schedule of Expenditures of Federal Awards, A-133 audit, financial statement audit, and the NSF Research survey.
Restricted and Endowment Fund Accounting:
Maintain accurate accounting records for all donor-restricted gifts and endowed funds. Review new gift agreements and partner with Advancement and Finance leadership to ensure correct revenue recognition in accordance with GAAP.
Monitor daily gift posting integration and work with Advancement colleagues to resolve differences; reconcile gift reporting to the general ledger on a monthly basis.
Ensure that fund usage is in strict accordance with the donor’s intent as outlined in gift agreements.
Support departments with accessing reporting, providing reconciliation support, and providing guidance regarding their restricted fund usage.
Process and record endowment pooled investment activity, provided monthly by the investment office, as well as transactions for separately invested assets.
Perform endowment unitization calculation and monthly reconciliation of all endowment activity.
Post the annual endowment spending allocation in compliance with the institution's spending policy and UPMIFA.
Provide policy and process instructions for endowed prizes and scholarships, oversee correct use and accurate recordkeeping.
Serve as primary finance contact with the outsourced service provider for life income gifts; periodically review financial reporting provided by third‑party and record results to the general ledger.
Serve as the primary point of contact for donors, financial advisors and college leadership on the receipt and liquidation of non‑cash contributions and donated securities.
General Accounting & Compliance:
Prepare and post journal entries related to sponsored and restricted fund activities.
Perform account reconciliations to ensure the accuracy and integrity of financial data.
Assist in the preparation of audit schedules and provide necessary documentation for the annual financial audit, the Uniform Guidance (Single Audit), and the 990 tax return.
Maintain a strong working knowledge of relevant accounting standards, including GAAP and fund accounting principles.
Recommend and implement internal control improvements to safeguard restricted and endowed funds.
Training & Support:
Serve as a primary resource for faculty, staff, and administrators on financial and compliance matters related to grants and restricted funds.
Provide training and guidance on institutional policies and procedures, as well as regulatory requirements.
Communicate proactively with stakeholders to address questions and resolve financial issues.
Position Qualifications Minimum Qualifications
Bachelor's degree in Accounting, Finance, or a related field.
Minimum of 5-7 years of experience in accounting or financial management, preferably in a higher education or nonprofit environment.
Demonstrated knowledge of Generally Accepted Accounting Principles (GAAP).
Experience with and a solid understanding of Uniform Guidance and fund accounting.
Proficiency in financial/accounting software and advanced skills in Microsoft Excel.
Strong analytical, organizational, and problem‑solving skills with a high degree of attention to detail.
Excellent written and verbal communication skills, with the ability to explain complex financial information to non‑financial audiences.
Preferred Qualifications or Skills
Experience with a major ERP system (Workday a plus).
Certified Public Accountant (CPA) or Certified Research Administrator (CRA) credential.
Experience with endowment accounting principles and UPMIFA (Uniform Prudent Management of Institutional Funds Act).
Physical/Mental Demands
To successfully perform the essential functions of this position, an employee must be able to maintain appropriate confidentiality with regard to employee data, documents, issues, and privacy of others.
The ability to comply with firm deadlines is required to successfully perform the essential function of this position.
There may be occurrences of employees, past employees, members of the general public, and others who express opinions and emotions, requiring professional, diplomatic interaction.
While performing the essential duties, an employee would frequently be required to move around the office space as well as within hallways, meeting rooms, and other parts of the campus.
There may be multiple/daily instances of prolonged personal computer use, including keyboard and mouse usage and viewing a computer monitor.
An employee must frequently lift and/or move up to 10 pounds and occasionally lift and/or move up to 35 pounds to perform essential position functions.
Specific vision abilities required by this position include close vision, distance vision, and ability to adjust focus.
The overall work environment requires the mental ability to shift focus quickly due to interruptions; an employee must be able to mentally track multiple projects and tasks as well.
The noise level in the work environment is usually moderate, but may include unexpected sounds.
#J-18808-Ljbffr