Asset Accountant

Department Office of the Controller Position Summary This position exists to monitor, record, track, depreciate, and safeguard the University’s fixed assets. It is responsible for proposing University policy regarding fixed asset procurement and tracking. Using Workday and Excel, this position reviews and reconciles all fixed asset purchases, and conducts annual inventory. Additionally, it is responsible for analyzing lease agreements and making the determination of operating leases vs. capital leases by applying GAAP and GASB standards. The Fixed Asset Accountant is also responsible for reviewing, reconciling and ensuring compliance with all debt obligations. Duties & Responsibilities 25%: Draw funds from the State for State-funded capital projects by working in the State’s financial system CORE and in Workday. Record draws from State and reconcile projects balances to CORE . Monitor state financial reports such as the OSC-011, 019 Approve invoices and   purchase order   documents for capital projects, bonds and leases, ensuring the correct   worktags   are used, and   the payments are in alignment with the respective projects.    Record all necessary entries to the fixed assets system and general ledger for the plant funds. Ensure all bond payments for principal and interest are made in a timely manner, and submits requests for bond subsidies from the federal government.  Request and post all internal transfers as they relate to the bond payments. Process accruals for bond interest (and subsidies) and fund transfers to cover all bond payments. Make determinations of what is a GASB 87 or 96 lease or a short term lease, calculate present values , as well as track according to p rocedures in alignment with all leases according to GASB 87 & 96. 20%: Compliance Develop policies and procedures governing the acquisition of assets using fiscal rules, GASB, GAAP, and knowledge of Workday Systems. Propose all policies that govern the plant fund and depreciation of assets. Ensure compliance with the inventory process by University’s personnel and departments. Monitors hedging derivative instruments and process payments should they,become necessary, and review circumstances that could constitute a termination of the University’s swap agreement and propose related entries or disclosures. Maintain continuing disclosure compliance leveraging DacBond when appropriate Monitor private business use of tax-exempt bond-financed facilities to ensure tax-exempt status is maintained. Serve as the main point of contact for the Budget Office as it pertains to Bond subsidy calculations. Act as initial contact with bond counsel for completion of working drafts for new issuance of bonds. Serve as the subject matter expert on tax exempt bonds and the federal sequestration by staying current on related IRS rules and federal legislation Initiate/coordinate arbitrage calculations on time and in compliance with bond requirements…