FINANCIAL ACCOUNTANT I

Job Description and Duties Under the general direction of the Section Supervisor, a Financial Accountant II, the incumbent performs sensitive fiscal analysis associated with the State’s total spending plan to ensure sufficient cash availability to meet the state’s financial obligations, and makes recommendations to Executive management as to the need of implementing cash management strategies. The incumbent operates at the professional financial accountant level, exercising a high degree of independence, and often serving in a lead capacity to other professional financial accounting staff. The incumbent prepares periodic and monthly financial reports in conformance with Generally Accepted Accounting Principles (GAAP), and governmental budgetary principles, practices and procedures of public finance and reporting requirements. Duties Performed: Utilize various automated models to compile and evaluate the most complex data sets in order to build statistical models and accurate daily forecasts of General Fund cash flows of the State’s General Fund revenues, expenditures, and available borrowable resources. Apply proposed budget changes, cash management solutions, and various trend analysis models to develop different cash flow scenarios. Analyze proposed and chaptered legislation and economic events to determine impact on the State’s cash position and Bureau workload. Provide cash management recommendations to the Division and the SCO’s Executive Office management. Monitor the cash position of the State’s General Fund and make comparisons to estimates. Research significant variances to determine long‑term impact on the cash forecasts. Maintain databases and reports of historical financial data for use in ongoing analysis. Reconcile the General Fund cash accounts and prepare the monthly Statement of General Fund Cash Receipts and Disbursements for publication in accordance with GAAP. Research and provide explanations for the changes and variances of actuals to estimates. Analyze and prepare the Pooled Money Investment Board (PMIB) Forecast of Changes in Portfolio for each bi‑monthly reporting period. Represent the SCO at PMIB meetings and present the Net Changes in the Investment Portfolio. Perform analysis and provide explanations for variances of actuals to estimates. Prepare forecasts of available borrowable resources by analyzing and evaluating the special fund cash receipts, disbursements, and daily cash balances. Determine trends in revenues and expenditures and monitor cash flow to ensure sufficient cash is available to meet the State’s obligations. Prepare legal opinion requests and provide supporting documentation to the SCO’s legal office to determine which Special Funds are legally borrowable to the General Fund for daily cash flow needs. Participate in Division level policy development and perform special assignments, as needed. Review and evaluate current process and procedure documents to develop new and/or revise existing processes and procedures. Assist in conducting ongoing risk assessments, monitor and verify adequacy of internal controls in compliance with the State Leadership Accountability Act. Participate in the agency’s development of a new financial accounting system (FI$Cal) as a subject matter expert. Meet with the division’s IT team, division management, and FI$Cal project team staff to discuss the replacement of the current financial accounting system. Special Requirements Evidence of degree, transcripts, or degree evaluation. A Statement of Qualifications is required; see Classifier Specification for instructions. Completion of the Financial Accountant I Examination. Equal Opportunity Employer The State of California is an equal opportunity employer to all, regardless of age, ancestry, color, disability (mental and physical), exercising the right to family care and medical leave, gender, gender expression, gender identity, genetic information, marital status, medical condition, military or veteran status, national origin, political affiliation, race, religious creed, sex (includes pregnancy, childbirth, breastfeeding and related medical conditions), and sexual orientation. It is an objective of the State of California to achieve a drug‑free workplace. Any applicant for state employment will be expected to behave in accordance with this objective because the use of illegal drugs is inconsistent with the law of the State, the rules governing Civil Service, and the special trust placed in public servants. #J-18808-Ljbffr California State Controller's Office