STAFF ACCOUNTANT – RESTRICTED FUND & INVESTMENT ACCOUNTING
The Staff Accountant – Restricted Fund & Investment Accounting is responsible for the accounting, analysis and reporting related to the College’s restricted accounting and investment portfolio, and endowment fund accounting. The College has over 1,800 endowment accounts and over 3,000 other restricted funds providing approximately $50 million in revenue annually. The Accountant ensures that gift and endowment funds are properly recorded, budgeted, spent in accordance with gift instruments, and accurately reported. The position reports to the Accounting Manager and works closely with the Investment and Finance and Business offices.
The incumbent must be detail oriented and possess strong organizational skills, is familiar with restricted fund accounting, and can communicate with a wide variety of constituents both inside and outside the College. The position will have direct responsibilities in financial reporting and will assist in month-end and year-end close processes.
Services to be provided by the position:
· Restricted Fund Accounting – Oversees restricted funds and ensures compliance with the requirements of donor gift agreements; ensures new donor funds received are accurately classified by fund balance type and net asset class (unrestricted, temporary, and permanent) and eligible spend categories. The Accountant develops restricted fund budgets; prepares income statement and balance sheet account reconciliations related to restricted funds; and processes restriction releases restrictions from fund balances.
· Grant Accounting – Ensures compliance with grant and contract regulations and requirements.
· Stewardship Reporting – Develops donor statements in concert with the Director of Stewardship and reconciles donor fund reconciliations with Institutional Advancement
· Investment Accounting and Reporting – Maintains subsidiary schedules summarizing investment activity and balances and reconciles subsidiary schedules to the general ledger. Records investment transactions in the general ledger. Records entries to update the annuities payable liability. Prepares financial statements, supporting schedules, and footnotes for the endowment, other long-term investments, short-term investments, and annuities payable. Serves as a liaison with the investment office.
· Endowment Fund Accounting – Calculates fund unitization and market values and distributes earnings quarterly; processes endowment spend accounting journal entries; and monitors endowment spendable and restricted fund expenditures
· Endowment Cash Transfers – Calculates periodic endowment withdrawal for transfer to operating accounts and determines amounts to be transferred to the endowment. Analyses the due to/from endowment.
· Agency Funds – Oversees agency funds. Processes journal entries for agency accounts and prepares balance sheet reconciliations for agency funds. Prepares financial statements and supporting schedules for the agency funds.
· Accounts Analyses – Analyzes general and operating ledger accounts on a routine basis and at year-end.
· Special Projects – Performs other special projects and tasks as assigned.
A financial background with an understanding of financial administration and familiarity with integrated accounting system
applications is required.
§ Bachelor’s degree in accounting or finance preferred
§ Minimum three years of experience in investment, endowment and fund accounting
§ Prior experience supporting the annual audit
§ Strong spreadsheet and pivot table experience
§ Ability to work independently
§ Not for profit accounting experience and experience with monthly and fiscal year end closings is preferred
§ The position is exempt from overtime. Extra time will be required during peak seasons.
How to Apply: Please submit resume, letter of application, and three references through the following website: http://apply.interfolio.com/44256
Notice of Non-Discrimination and Equal Opportunity
Lafayette College does not discriminate on the basis of race, color, national or ethnic origin, disability, religion, age, military or veteran status, sex, sexual orientation, gender identity or expression, marital or familial status, pregnancy, genetic information, or any other characteristic protected by law in its educational programs and activities, admissions, or employment, as required by Title IX of the Educational Amendments of 1972, the Americans with Disabilities Act of 1990, Section 504 of the Rehabilitation Act of 1973, Title VI and Title VII of the Civil Rights Act of 1964, and other applicable laws and College policies.