The HBPW Finance Director is responsible for establishing and maintaining all aspects of the Utility’s finance operations. Primary responsibilities of the Finance Director include financial reports, statements, cash managements and investments for the Utility System. The Finance Director shall review information from all utility departments. Oversee the Business Office personnel. The Finance Director shall be the primary liaison with the City of Hannibal/HBPW’s Auditor, maintaining a system of records and reports satisfying public accounting principles.
General Ledger Accounts: The Finance Director maintains the general ledger including entries, adjustments and shall develop monthly reports as required by the General Manager, Auditor, or responsible accounting principles. On a year-to-date/monthly cost basis, budget reports reflecting utility revenues, labor costs, and expenses shall be developed. Monthly preparation of financial statements for management and the Board of Directors.
Investments: Finance Director shall maintain a record of all utility investments, including maintenance of the required cash balance in the general operating account. Investment transactions shall be researched prior to purchase, and coordinated with appropriate City personnel. Investments shall conform to required standards. The investments shall be regularly evaluated as to yield, terms, current values, and earnings to date. Cash reserves shall be divided into those of a restricted nature (bond reserves, deposit funds, reserve to meet employee accruals, etc.), and those available for capital improvement needs. The projected future cash needs of the utility will be monitored; staggering investment maturities to insure cash requirements are met.
Budget/Audit: The Finance Director shall prepare the annual budget. The management team will assist with preparation. Will present the budget along with the presentation of audit information to the Board of Directors for approval. During the development of the proposed budget, the Finance Director shall develop worksheets, post and allocate costs, predict debt service/fringe benefit costs, and otherwise assist in the development of such document. The Director shall post all costs to the budget reports on a continual basis, producing monthly budget/financial reports. All records shall be accurately kept in an organized manner to conform to accepted accounting principles. The Finance Director shall provide information for the Auditor’s use in preparing the Utility’s annual audit, and required year-end journal entries.
Rates: The Finance Director shall assist the General Manager and other members of utility management with the rate setting process, including developing revenue models to calculate the effect of rate changes. The Finance Director shall be the primary liaison with the Utility’s rate setting/cost of service consultants.
Checking Accounts/Bank Reconciliation: The Finance Director shall reconcile all bank and investments accounts monthly. On an annual basis, all checks not having cleared shall be itemized and those unclaimed amounts to persons of unknown address shall be appropriately turned over to the State of Missouri.
Capitalization: Finance Director shall assign and set up new capitalized projects and maintain appropriate cost records to identify those projects that are to be expensed. Data shall be in such detail as required by the City Auditor.
Bonding: Finance Director shall be responsible for the Utility’s timely and correct payment of its bonded indebtedness. All payments shall be properly recorded as to principal/interest paid, and shall be scheduled so as to avoid late payment penalties. Records shall be maintained to allow the Auditor to easily develop required financial statistics on indebtedness.
Account Receivable, Accounts Payable, and Payroll Review: Monitor reporting from the Business Office, Accounts Payable and Payroll. Review of daily receivables from the Business Office, making necessary adjusting entries. Verify and submit debt obligations. Verify and/or assign general ledger numbers for purchase orders. Randomly conduct internal audits for accounting transactions, including; Accounts Receivable, Accounts Payable and Payroll.
Business Office Supervise the Business Office personnel, including the Billing Service Coordinator and Customer Service Coordinator and other office personnel. Perform Business Office month-end processes, including: calculate, prepare and file monthly sales tax returns with the State of Missouri; summarize and communicate monthly Business Office operations to the General Manager for reporting to the Board of Directors; calculate and communicate to the Accounting Assistant Business Office payables.
Candidate must have a Bachelor’s degree in Accounting and/or Finance from an accredited college or university and/or a minimum of 5 years of related public accounting experience, CPA or CMA preferred.
Considerable knowledge of public accounting and fund investments, including, governmental securities, Treasury notes, yield calculations, etc.
Knowledge of and ability to plan and schedule investments to meet cash flow requirements of the HBPW, including maintenance of required balances in financial institutions.
Knowledge of and proficient at performing electronic payments, wire transfers, and other modern fund transfer procedures.
Extensive knowledge of finance administration, public financing methods, including, SRF loans, utility bonds, bond resources, principal payments, interest payments, and tax payments.
Knowledge of public utility accounting systems, including maintenance of multiple accounting records relating to budgets, financial reports, GASB, GAAP and FERC accounting requirements.
The Finance Director shall be responsible for complete and accurate utility finance records, including financial and statistical data. General forecasting and analysis trend reporting, payment requirements imposed by bondholders, financial institutions, and accounting standards shall be addressed in an organized and timely manner. Utility investment portfolio shall be managed so as to maximize returns and to satisfy utility cash flow needs. All routine and end of the year reports shall be prepared, including furnishing of all data required by the City/HBPW Auditor. Compliance with State and Federal Laws, City of Hannibal Codes, Board of Public Works’ Policies, and accepted accounting principles, with respect to all financial affairs, shall be sustained.
Finance Director shall have extensive knowledge of GASB, GAAP and FERC accounting and reporting. Must be capable of operating all office equipment keyboards by touch with both speed and accuracy. Documents from other operating areas shall be received, checked, corrected, and verified as to insure accurate financial and statistical reports. All matters pertaining to utility finances and statistics shall be treated as confidential, and shall not be disclosed to others unless specifically requested under public disclosure requirements. The records, data, and reports shall be neat, orderly, accurate and timely. The Finance Director shall assist associates in the development of acceptable and accurate formats for finance utility data.
Conduct shall comply with safety rules, standard operating procedures, verbal instructions, working rules, personnel policies, and other applicable standards. While on duty, the interaction with the General Public and other workers shall be courteous, and a positive attitude shall be displayed.
Represent the HBPW at meetings and conferences involving financial and fiscal considerations.
Understand and implement safety regulations and policies of the HBPW, including those in various manuals, as well as, those directly taught in Safety Meetings. Attendance at Safety Meetings is required, as well as, the immediate reporting of accidents, incidents, violations, improper acts and effective equipment. All work shall be performed safely, with equal emphasis on the safety of the employee, fellow workers and the general public.
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