SOUTH COUNTY HOUSING CORPORATION
REAL ESTATE ACCOUNTING MANAGER
FLSA Status: Exempt
Reports To: Finance Director
South County Housing Corp. leads a non-profit group dedicated to building community
by providing affordable housing opportunities, economic development, and related
support services that will enhance the lives of low- to moderate-income households.
The Real Estate Accounting Manager is responsible for accurate recording and reporting
of accounting information with respect to development projects. The Manager and
his/her team provide reports to senior management and other departments that are critical
to effectively managing the business.
ESSENTIAL JOB DUTIES include the following:
A. Understand project budgets, sources of financing, project deal points, and other
financial aspects of a project and serve as a resource person for project staff in
fully understanding the economics of each project.
B. Review initial economic projections with project staff before start of the project
and acquisition loan closing. Review final economic projections at construction
end and, for rental development projects, facilitate transfer of cost (general
ledger) data at turnover to Property Management.
C. Maintain/oversee the maintenance of accurate accounting for assets and
liabilities of development projects of SCH and/or its affiliate entities (general
ledger accounting), including reconciliation of project or entity bank accounts.
Assist with the monthly close process.
D. Prepare/oversee the preparation of periodic reports to management or other
departments of project-related information, particularly sources and uses (project
costs and funding sources) and budget to actual reports. As needed, review cost
variances with project staff during the development life of projects.
E. Track progress of projects, both from cost and percentage of completion
viewpoints and, if needed, render “early warning” report to the VP of Real Estate
and appropriate project manager, and the Director of Finance.
F. Oversee or prepare project loan draws for banks and lenders, working in
coordination with project staff and other Finance Department staff to ensure
timely payment of project invoices.
G. Oversee or perform accounting for sales and cost of sales of for-sale projects.
H. Coordinate with corporate accounting staff in managing project cash balances,
lines of credit, loans, and inter-company accounts.
I. Coordinate and lead audit preparation, and serve as liaison with outside auditors
for entities with development projects. Coordinate with tax accountants for
timely preparation/submission of entity tax returns.
J. Monitor all funding grants and contracts for financial compliance with the
specific conditions of each and, during the development period, provide timely
reports to each funding source as required. Track utilization of permanently
restricted funds among projects, and redeployment of recovered funds into other
K. Assist in training accounting personnel in the theory and application of
accounting principles; recommend and participate in the development and
implementation of new accounting policies and procedures. Analyze accounting
methods and practices and make proposals which promote efficiency,
productivity, timeliness, accuracy, etc. in the construction draw and project
L. Assist CEO, CFO, VP of Real Estate and Director of Finance in understanding
financial implications or aspects of non-traditional financing methods like New
Markets Tax Credits.
M. Perform other duties as assigned by supervisor.
SUPERVISION RECEIVED AND EXERCISED:
The Director of Finance supervises the Real Estate Accounting Manager. This position
requires high-level contact and interaction with the Director of Real Estate, Construction
Program Manager, and project managers. The Real Estate Accounting Manager
supervises up to three staff.
B.S. in Accounting or Finance.
Comprehensive accounting background, with strong GAAP knowledge, budgeting
skills, financial research and analysis skills, and problem-solving skills. Experience
in fund accounting a big plus.
Minimum 5 years of increasingly responsible accounting experience in the
construction or affordable housing fields, or public accounting, with a minimum 2
years of supervisory experience.
Computer literate with specific experience using Microsoft Office software (Excel,
Word, Access, Powerpoint, Project). Experience using American Contractor software
a big plus.
Ability to interact and communicate effectively with all levels in the organization.
The physical demands described here are representative of those that must be met by an
employee to successfully perform the essential functions of this job. Reasonable
accommodations may be made to enable individuals with disabilities to perform the
5. Use of fingers/manual dexterity
6. Lifting up to 5 lbs.
1. Indoors: office conditions, 95% of the time
Outdoors: varying conditions, 5% of the time
2. Noise Level: conducive to office setting
3. Lighting: conducive to office setting
4. Flooring: low level carpeting
5. Ventilation: provided by central air conditioning
6. Dust: normal, indoor levels
Date revised: October 2007