What are the responsibilities and job description for the Grant/Revenue Accounting Specialist position at NJ PERFORMING ARTS?
Job Summary:
The Grant/Revenue Accounting Specialist is responsible for ensuring accurate financial management and compliance of Federal, State awards, and private grants. This position involves interpreting grant agreements and contracts, preparing financial reports, managing grant budgets, and maintaining detailed and audit-ready files for assigned agreements. The successful candidate will be highly detail-oriented, proactive, and skilled at managing administrative and financial tasks related to grant reporting and compliance.
Key Responsibilities:
Grant Accounting & Financial Reporting:
● Oversee the accounting for contributions and gifts, working closely with the Development team to ensure accurate coding and compliance with GAAP standards before gifts are entered into Salesforce.
● Perform monthly close functions for grants and donations, ensuring financial statements align with progress reports from Development.
● Assist in the preparation and review of detailed grant budgets, provide information to support cash forecasting, and track carry-over funds for annual and quarterly project budgets.
● Coordinate and support the financial reporting for grants and contributions, including providing revenue assumptions for cash flow models.
● Ensure compliance with procurement standards for grant-related purchases and review purchase orders and equipment acquisitions for appropriate application to grants. Grant Compliance & Administration:
● Conduct post-award activities such as contract and expenditure reviews, budget variance analysis, and ensuring grant compliance, including reviewing project reports and managing grant closeout functions.
● Assist in preparing financial data for grant application budget proposals in collaboration with the Development Department.
● Provide guidance to program staff on grant terms, conditions, and compliance issues, helping resolve any discrepancies or issues in financial reporting.
● Prepare and submit any required reports to government agencies, ensuring accurate reporting of grant expenditures, while meeting required deadlines.
Financial Tracking & Documentation:
● Maintain accurate records of outstanding grants and other pledge receivables and deferred revenue to ensure proper revenue recognition.
● In collaboration with prospect managers and the VP, Development, ensure that all grant- related documentation is received and stored properly in Salesforce and other digital systems.
● Collaborate with finance team members to assist with the required journal entries, reconciliations, and post-closing duties required for month-end and year-end closing processes, ensuring all accounts are completed in a timely manner.
External Reporting & Audit Preparation:
● Assist in the preparation of required external financial reports for both Federal and Non- Federal grants.
● Maintain audit-ready files for assigned grants, ensuring compliance with applicable regulations and policies, including SEFA and SESA reports.
Communication & Support:
● Provide key directors with regular updates on project performance, including budget overruns and accelerated spending, and offer recommendations for corrective actions.
● Offer financial data support and guidance to program staff throughout the grant lifecycle, from kickoff to closeout.
● Facilitate effective communication and collaboration across departments, establishing and maintaining strong working relationships with internal stakeholders.
Professional Development & Compliance:
● Stay current with public sector compliance updates, including changes to federal regulations, state laws, and organizational policies affecting grants and financial reporting.
● Participate in training and workshops related to grant management and accounting.
Other Duties:
● Perform other related tasks and duties as assigned by management.
Qualifications:
● Bachelor’s degree in Accounting, Finance, or related field is required. CPA designation or in process is desired
● Three to five years’ experience in grants accounting or nonprofit financial management is required.
● Strong understanding of GAAP, grant compliance, and federal and state regulations.
● Proficiency in financial software and systems (Salesforce, NetSuite, Microsoft Excel, Microsoft Word, Google Workplace, etc.).
● Excellent analytical skills, attention to detail, and the ability to prioritize tasks effectively.
● Strong interpersonal communication skills and the ability to collaborate with cross-functional teams.
