Staff Accountant II​/III –Development

Development Staff Accountant

The Development Staff Accountant is responsible for the financial management, accounting, reporting, and compliance activities related to NRHA's real estate development and redevelopment projects, as well as real estate transactions (acquisition/disposition). This position supports affordable housing development, mixed-finance transactions, tax credit properties, public-private partnerships, and capital improvement projects by ensuring accurate financial reporting throughout the project lifecycle—from acquisition and predevelopment through construction, lease-up, stabilization, and project closeout.

The Development Accountant works closely with Real Estate Development, Finance, Portfolio Analyst, Procurement and external partners to maintain financial integrity, ensure regulatory compliance, and provide timely financial information for decision-making.

Essential Functions

• Development Accounting:
  Establish and maintain accounting records for all development and redevelopment projects; create and monitor project budgets within the accounting system; track project expenditures against approved development budgets; record all construction, development, acquisition, and financing transactions; maintain separate accounting records for each development entity, grant, and funding source; monitor project cash flow and funding availability; prepare monthly financial statements for development entities;
  
  reconcile project accounts, bank accounts, and general ledger balances; and ensure all project costs are properly capitalized in accordance with GAAP.
• General Accounting:
  Prepare journal entries; perform account reconciliations; approve/process invoices related to development projects; assist with annual budget preparation; assist with year-end closing activities; and recommend improvements to accounting procedures and internal controls.
• Construction Draw Administration:
  Track contractor payment applications; coordinate processing of construction draw requests; verify supporting documentation for payment requests; track retainage balances; maintain construction contingency schedules; reconcile construction draws with lender funding; and coordinate payments with finance staff.
• Financing & Funding Administration:
  Monitor loan balances and financing proceeds; maintain lender reporting schedules; prepare funding reimbursement requests; ensure compliance with funding requirements; and track funding from multiple sources (including but not limited to Low-Income Housing Tax Credits (LIHTC), HOME Funds, CDBG, State Housing Funds, bonds, conventional loans, and private equity investments)
• Financial Reporting:
  Prepare monthly development financial reports; produce project cost reports for management; prepare sources and uses analyses; maintain budget-to-actual reports; prepare cash flow forecasts; assist in preparing financial information for Board presentations and prepare year-end work papers for auditors.
• Compliance:
  Ensure compliance with GAAP, HUD regulations, loan covenants, tax credit requirements, development agreements and internal accounting policies; documentation supporting all development expenditures is maintained; and assist during external audits and monitoring reviews.
• Project Support:
  Participate in project kickoff meetings; attend development progress meetings; work closely with development managers regarding project budgets; assist with project financial feasibility analyses; support financial closings and project conversions; coordinate financial information required by lenders, investors, and government agencies.
• Perform other related financial and administrative duties as required to support departmental and agency objectives.

Performance Standards

• Maintain accurate financial records, prepare journal entries, and reconcile accounts in compliance with GAAP. Assist in timely preparation of monthly, quarterly, and annual financial statements with minimal errors.
• Monitor expenditures to ensure alignment with HUD and grant requirements; support fund reporting and cost allocation.
• Provide accurate and complete documentation for audits; assist in resolving audit findings promptly.
• Enter and manage data in financial software (e.g., Yardi, Excel) efficiently and with precision.
• Support the year-end closing process through accurate reconciliations and timely reporting.
• Follow established financial policies and ensure compliance with internal controls.
• Communicate effectively with finance staff.
• Balance multiple priorities, meet deadlines, and deliver consistently high-quality work.
• Maintain strict confidentiality and uphold NRHA's ethical standards in all financial activities.

Minimum Qualifications

• Staff Accountant IIBachelor's degree in Accounting, Finance, or a closely related field. Three to five years of progressively responsible accounting experience. Experience with construction, real estate development, or project accounting preferred. Experience with affordable housing, governmental accounting, or…