Development Accountant (Foster City Office)

MidPen Housing•Foster City, CA

13d•$90,000 - $95,000•Onsite

About The Position

MidPen is committed to building communities that change lives by developing affordable housing, providing professional property management, and coordinating robust onsite support programs. Since 1970, MidPen has been a leader in developing and stewarding affordable housing, with a portfolio of over 130 properties serving 20,000 residents. The organization is recognized as a Great Place to Work® and is dedicated to social, economic, and racial equity. The Development Accountant position is based in the Foster City Office and is responsible for the full accounting cycle of development projects and newly placed in service properties. This role involves managing approximately 10 projects, with at least 6 major ongoing projects, ensuring compliance with US GAAP, MidPen's Accounting Policies and Procedures Manual, and statutory requirements like Low Income Housing Tax Credit rules. The Development Accountant will collaborate with various teams including Development, Corporate and Property Accounting, Property Management, Asset Management, Resident Services, and the management team.

Requirements

Bachelor degree in Accounting or Business Administration
Strong GAAP knowledge required
Minimum of two years of general ledger accounting experience required with increased responsibilities.
High degree of accuracy, accountability and consistency produce quality work.
Ability to multi-task and work with changing priorities.
Advanced PC applications: Excel, Word, Access, and Outlook.
Excellent English written and oral communication skills.
Must be able to communicate with diverse parties and promote department teamwork.

Nice To Haves

CPA preferred.
Low-Income Housing Tax Credit knowledge a plus.
Experience in accounting for job costs, real estate development, property rehab or construction, preferred.
Experience reviewing and ensuring compliance of regulatory, partnership, and loan agreements preferred.
Experience using enterprise accounting software and working knowledge of RealPage preferred.

Responsibilities

Prepare and submit loan draw requests in a timely manner.
Track project actual costs and funding usages vs. project budgeted and contracted amounts in Job Cost Module and related interface with various applications. Prepare analysis of budget, contract, and actual variances, as needed.
Perform general ledger analysis for the assigned projects, account reconciliations, monthly close and prepare financial statements.
Prepare annual audit schedules and work with external auditors to complete audit and tax returns and ensure all are filed within timeline of partnership and other applicable agreements.
Collaborate with project managers and other accountants to meet company’s accounting needs and reporting requirements.
Apply and understand the proper accounting treatment under GAAP with accurate documentation and correct recording of transactions.
Prepare annual audit schedules and works with the external auditors to complete audited financial and prepare cost cert audit with support from accounting managers.
Responsible for reading and understanding all compliance and partnership documents of assigned projects, including regulatory and loan agreements, as well as accounting treatment associated with each document.
Concisely present financial information and appropriately answer accounting questions to management and other users, as requested.
Ensure all inter-entity transactions are in balance. Analyze and clear variances prior to financial reporting close.
Ensure surplus distributions are correctly calculated and appropriately distributed.
Provide ad-hoc reporting, as requested. High proficiency in Excel tools used in analysis.