Job Summary
The Grant Finance Specialist performs a variety of duties associated with grant financial performance and reporting. This role is responsible for financial data integrity, timely billing, collections, and financial reporting required by grant funders. The Grant Finance Specialist must be able to apply principles of accounting (GAAP) and Uniform Guidance for Federal Awards – 2 CFR Part 200 to prepare and maintain records of financial transactions for grant awards. Examine, analyze, and interpret grant financial transactions for management. Track and monitor grant initiatives to assure that funds are expended according to grant requirements. Provide required financial reports as may be defined by funding agencies, foundations or as required by the system. With this position there is the possibility of remote work options.
Responsibilities
- Establishes executed Grant Award Contract/Agreement details in Grants Management financial system to include project number, terms, funding source, company, general ledger structure, etc.
- Journalize appropriate accounts receivable for grants being funded in advance.
- Ensure accounting is set up properly for the Schedule of Expenditure of Federal Awards (SEFA) and federal audits.
- Serves as liaison with Vandalia Health Accounting & Financial Reporting (AFR) and Budget Reimbursement and Cost Accounting (BRCA) to assure timely reconciliation with financial statements, respond to grant actual to budget variances and preparation of annual grant budget(s) by company.
- Collaborates with VH Compliance and AFR to assure appropriate internal controls for grant finance processes.
- Evaluate monthly grant expenses prior to billing to assure expenses are accurate and should be billed.
- Generates monthly grant (close) entries in accordance with Vandalia Health Accounting & Financial Reporting month end close schedule, including but may not be limited to:
- Labor distribution and related benefits
- Indirect Cost Allocations
- Any necessary Adjusting Entries
- Generates Monthly Grant Invoice/Revenue Recognition
- Through collaboration with key stakeholders, assures that all expenditures have been billed.
- Assures that all grant expenditures are allowable and properly supported.
- Submits invoices in accordance with grant contract terms.
- Applies funder payments within three (3) days of deposit/receipt to invoices/account
- Identifies any amounts remaining in Grant Cash Clearing account(s) and resolves immediately with AFR Cash Processing
- Generates monthly Grant Accounts Receivable report(s).
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- Provides report(s) to department director.
- Explains any balances over 30 days old, to include expected payment date.
- Generates monthly grant project actual to budget reports.
- Electronically distributes reports to all grant project directors.
- Collaborates with Grant Award Specialist on unspent grant funds, close out timing, etc.
- Assures grant balance is zero within 60 days of end of performance period unless a formal, approved extension is executed.
- Properly closes out grant:
- Computes all adjusting and closing entries for grant accounts in accordance with period of performance closing/Federal grant requirements.
- In Grants Management finance system within established policy timelines.
- Assures that final (close out) grant financial reports are filed with funder.
- Serves as annual Single Audit point of contact/coordinator within department.
- Generate ad hoc financial reports as requested by management.
Knowledge, Skills & Abilities
Patient Group Knowledge (Only applies to positions with direct patient contact) The employee must possess/obtain (by the end of the orientation period) and demonstrate the knowledge and skills necessary to provide developmentally appropriate assessment, treatment or care as defined by the department’s identified patient ages. Specifically the employee must be able to demonstrate competency in:
- Ability to obtain and interpret information in terms of patient needs;
- Knowledge of growth and development; and
- Understanding of the range of treatment needed by the patients.
Competency Statement
Must demonstrate competency through an initial orientation and ongoing competency validation to independently perform tasks and additional duties as specified in the job description and the unit/department specific competency checklist. Common Duties and Responsibilities (Essential duties common to all positions)
- Maintain and document all applicable required education.
- Demonstrate positive customer service and co-worker relations.
- Comply with the company’s attendance policy.
- Participate in the continuous, quality improvement activities of the department and institution.
- Perform work in a cost effective manner.
- Perform work in accordance with all departmental pay practices and scheduling policies, including but not limited to, overtime, various shift work, and on-call situations.
- Perform work in alignment with the overall mission and strategic plan of the organization.
- Follow organizational and departmental policies and procedures, as applicable.
- Perform related duties as assigned.
Education
- Bachelor’s Degree (Required)
- Bachelor’s degree in accounting and relevant experience or equivalent combination of non-relevant education and relevant experience.
- Non-profit and/or grant accounting preferred.
Work Schedule: Days
Status: Full Time Regular 1.0
Location: General Hospital
Location of Job: Charleston
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