Development Accountant

Job Description

Job Description

We are seeking a Development Project Accountant. This position is primarily responsible for all development accounting including project cost tracking and reporting and processing of project AP and construction draw process. The ideal candidate will have experience working with construction lenders and public agencies.

Pre-Development:

• Work with the Development Directors on project tracking, assignment of project cost code categories.
• Provide cost reporting for each project in pre-development to Development Directors allowing them to update the project costs monthly.

Development:

• Work with lenders and public agencies to understand requirements for draw processing.
• Work with the Development Directors to prepare initial closing draw and settlement statement.
• Provide monthly preliminary project cost reports to Development Directors; meet with Development Directors to finalize monthly requisition draw; prepare and process the monthly draw requisition.
• Approve project invoices to appropriate category code.
• Prepare and enter project related journal entries to accurately account for project costs.
• Manage monthly draw process with lenders and state agencies.
• Reconcile project budget, final cost reports, and organize for preparation of cost certification audits.
• Work with Development Directors to report on monthly budget updates including making recommendation on potential budget adjustments
• Work with Development Directors on ad hoc budget analysis such as updating interest projections, adjuster calculations, etc.
• Prepare year-end work papers for projects.
• Prepare monthly journal entries for 3rd party property management company for projects in transition to the stabilized portfolio.

Other:

• This Position Reports to the Controller
• This is a hybrid position. It will be required, however, that the position will have to report to the office for the first 3 months commencing on the start date. After the 90 days, the position will report to the office on Tuesday, Wednesday and Thursday per the current company policy.