Position Summary Description
Provides complete and accurate accounting for Cooperative utility plant property (fixed assets) and capital projects in accordance with standard procedures and Rural Utilities Services (RUS) requirements; to provide, document, implement and monitor the process for tracking the life cycle of utility plant assets for both financial and tax reporting purposes.
Essential Functions
- Reviews all capital and expense projects in project budgeting system during the annual budgeting period to ensure budgeted capital projects are correctly identified in compliance with GAAP and RUS requirements. Notifies engineering department and budget department of any required changes.
- Reviews all Construction Work Orders (CWO’s) for needed information, units of property, retirements, proper accounting treatment, etc., and instructs such personnel to make needed changes.
- Maintains a current log of capital projects budgeted for the current year, opened and in-process, closed and placed in-service, cancelled, etc.; interfaces with the engineering/plant staff regularly to ensure that the status of projects is accurately reflected.
- Maintains a working knowledge of major system categories within the power generating facilities and a rudimentary understanding of how they function and interrelate to effectively communicate on capital projects and to give guidance on proper accounting treatment.
- Maintains a thorough working knowledge of GAAP and RUS requirements with respect to accounting for work orders, utility plant (fixed assets) and depreciation, and ensures that all functions and reports, and any reports and statements derived from these, are in compliance.
- Computes and prepares journal entries to record any actual depreciation expense or other adjustments to utility plant, accumulated depreciation/amortization or depreciation/amortization expense on a monthly basis
- Reviews asset disposal information received for reasonableness, accurate item numbers, completeness of information, etc. Ensures that cost of removal and salvage proceeds have been correctly booked.
- Performs required testing and analyses for upgrades to fixed assets accounting software.
- Prepares and reviews RUS Form 219 (Inventory of Work Orders) and RUS Form 254 (Construction Inventory) and reconciles them to the CWO General Ledger.
- Assists with calculation of depreciation forecast and budgets and provides explanation of budget variances.
- Reviews and recommends changes to existing policies and procedures, and suggests new policies and procedures as needed to effectively perform the fixed assets accounting function.
- Reviews work completed by other property accounting staff, provides feedback and instructions where needed.
- Performs other duties as applicable to the position or as assigned.
Qualifications and Education Requirements
Bachelor’s in Accounting, or equivalent, is required. Additional specialized training or experience in Electric Utility Property Accounting is preferred. A minimum of five (5) years of experience required. Three (3) years of experience in the area of Property Accounting is preferred.
Core Competencies: Adaptable, Collaborative, Conscientious, Critical-Thinking, Outcome-Driven, Professional
Technical Competencies/Skills:
- Budgeting
- Generally Accepted Accounting Principles (GAAP)
- Property Accounting
- Reporting
- Proficiency with Microsoft Office applications
Soft Competencies/Skills:
- Effective verbal/nonverbal, listening, and written communications
- Analytical Thinking
- Attention to Detail
- Customer Orientation
- Planning and Organizing
- Problem Solving
Physical Requirements
Must be able to follow established protective measures including wearing required personal protective equipment (PPE). Must possess a valid driver’s license and acceptable Motor Vehicle Report.
Working Conditions
Some travel and work outside of normal business hours. While working in certain areas of the plant there is the potential for exposure to hazards typical of an industrial working environment.
“Disclaimer – Management may modify this job description at any time and may require the performance of additional duties, or modification of physical requirements, with or without advance notice.”
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