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Director of Budget and Restricted Funds

at NorthWest Arkansas Community College in Bentonville, Arkansas, United States

Job Description

NorthWest Arkansas Community College (NWACC) provides quality and affordable higher education to empower lives and strengthen communities within Northwest Arkansas and surrounding areas.

As the largest community college in Arkansas, NWACC is recognized as a leader in education. NWACC offers a full range of associate degrees, certificates and workforce training programs that prepare students for rewarding futures and careers.

NWACC employees are dedicated to fostering a diverse educational community and cultural learning environment that supports student success.

Under the general supervision of the Controller, the Director of Budget and Restricted Funds is responsible for the daily operations of the Budget Office and management of the restricted funds. The incumbent maintains knowledge of budgetary, financial system, and award/grant compliance requirements of Federal, State, Private, and, NWACC policies and procedures and ensures these requirements are met at every level.

 

The Director of Budget and Restricted Funds will assist in all aspects of administering, developing, monitoring, and allocating resources for current and long-range financial plans that reflect NWACC’s strategic goals and mission. The incumbent will provide expert analysis, projections, and cost- benefit solutions to financial issues and financial systems.

  • Coordinates and manages the collection, compilation, and preparation of the College department’s budget requests, analyzes previous budget figures, estimates revenue, expense reports and other factors. Reviews proposed department budgets for accuracy, impact on college resources and adherence to established fiscal policy.
  • Develops and maintains detailed budget templates, charts, tables, and analysis for annual budget development discussions and special projects as needed including the identification of relevant and usable data sources, appropriate methods of data collection and data analysis, budget projections, and reporting of conclusions, implications, and recommendations.
  • Assists developing funding formulas and recommends funding scenarios to address concerns and facilitate resolution. Analyzes and evaluates NWACC organizational structure, staffing, operations, funding sources, procedures and policies and programs to determine the budgetary needs.
  • Participates in budget development meetings as needed and makes recommendations to the Controller and Administration regarding budget requests. Assists with correspondence and communication to departments regarding budget changes, status, and management decisions. Prepares comprehensive reports for college administrators, state and local government, and other external and internal entities. Assists with preparation of proposed annual budget documents for the presentation to the Cabinet.
  • Provides training sessions for budget and financial budget reports. Cross-trains and trains other to serve as back- up to other positions in the department as assigned.
  • Manages adjustments and maintenance including position budgeting and position control for budget purposes.
  • In Coordination with the Information Technology department tests and provides input for applied patches and business processes in Workday for budget and restricted funds. Seeks resolutions to Workday issues using both external and internal resources. Notifies the Controller and other appropriate individuals for data integrity matters.
  • Supervises the budget and restricted funds analysts for the restricted funds and ensures day to day functions of the restricted funds are complete including the reporting for the grant principal investigators, booking of the cash withdraws and deposits, reconciliations with federal grants cash systems (G5) and NWACC Financial Aid Office; maintenance of various ledgers, journals, registers, and other fiscal records; allocates revenues to appropriate functions; classifies expenditures and posts to various accounts as required for all grants and federal awards.
  • Oversees financial reconciliation of all federal awards, grants, and loans such, PELL, Federal Work-Study, SEOG, Direct Loans ELM and the preparation of the Schedule of Expenditures of Federal Awards (SEFA) report.
  • Oversees all the accounting duties of the budget and restricted funds analysts and ensures compliance with Generally Accepted Accounting Principles (GAAP) and Governmental Accounting Standards Board (GASB)
  • Provides analytic and technical analysis for restricted funds multi-fund complex setups; advises on potential courses of action about financial and/or operational matters. Reviews, analyzes, and presents financial data, including revenue projections and expenditure reports, to determine funding requirements. Coordinates development and monitoring of all restricted funds, award, and auxiliary budgets.
  • Provides financial guidance for restricted funds and oversees work of the budget and restricted fund analysts required grant reporting for all awards. Attends grant office meetings and develops ad hoc reports as necessary.
  • Perform other related duties as required or assigned.

Rate of pay: $68,000 to $75,000 annualized

 

Required Qualifications

  • Bachelor’s degree in related area. Advanced degrees preferred.
  • At least 5 years of experience performing similar tasks.

 

Knowledge, Skills, and Abilities

  • Excellent problem-solving skills.
  • Knowledge of data analysis and forecasting methods.
  • Experience with Workday Finance System analysis and design.
  • Qualified candidates must possess advanced Microsoft Excel skills beyond basic data entry. These advanced skills will involve complex formulas, as well as in-depth knowledge of Excel tools and functions.
  • Ability to prepare periodic and special reports.
  • Strong interpersonal, communication, and organizational skills.

 

NWACC is an Equal Opportunity Employer, please see our EEO policy.

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Job Posting: 3214403

Posted On: Jan 25, 2022

Updated On: Feb 25, 2022