Staff Accountant II - Property Operations

We Are Norfolk Redevelopment and Housing Authority NRHA's Vision and Mission

We are proud to be the largest housing and redevelopment authority in Virginia and a leader in real estate development and property management across the country. Since 1940, we've been working to revitalize and improve neighborhoods in Norfolk.

As an award-winning public housing authority designated by the Department of Housing and Urban Development (HUD), the NRHA VISION is to provide quality housing choices in neighborhoods where people want to live. Our MISSION is to provide quality housing opportunities that create sustainable, mixed-income communities.

Today, our dedicated team continues focusing on our vision and mission by providing exceptional service to residents, vendors, development partners, and community stakeholders through programs that support the development and sustainability of affordable housing and offering programs that support the goal of self‑sufficiency for all residents of Norfolk, Virginia.

The Property Operations Staff Accountant is responsible for performing a full range of accounting duties requiring independent judgement, technical accuracy, and analytical skill. This includes financial management, reporting, and accounting of Norfolk Redevelopment and Housing Authority's (NRHA) real estate portfolio, comprised of public housing, affordable housing, mixed‑income developments, commercial properties, and other real estate assets. This position plays a key role in maintaining the financial integrity of NRHA by ensuring compliance with Generally Accepted Accounting Principles (GAAP), HUD regulations, and internal control policies.

This position works closely with Property Management, Portfolio Analyst, Development, Budget and Finance staff to ensure accurate financial reporting, regulatory compliance, and sound financial operations that support the long‑term sustainability of NRHA's real estate portfolio.

Property Financial Management:
Maintain the general ledger for assigned properties and real estate entities; prepare monthly property financial statements, including balance sheets, income statements, and cash flow reports; reconcile all balance sheet accounts, bank accounts, and intercompany accounts; record monthly journal entries and accruals; monitor property operating expenses and revenues for accuracy; review property financial performance against approved budgets; assist with cash management and reserve account monitoring;

ensure proper accounting treatment for capital expenditures versus operating expenses.

Budgeting & Forecasting:
Assist in preparing annual operating budgets for all assigned properties; prepare monthly budget variance analyses and explain significant variances; develop financial forecasts throughout the fiscal year; monitor operating reserves and replacement reserves; assist Asset Management with long‑term financial planning.

Regulatory & Compliance Accounting:
Ensure compliance with HUD, Low‑Income Housing Tax Credit (LIHTC), RAD, and other federal, state, and local financial reporting requirements; prepare financial information for HUD reporting; maintain accounting records in accordance with Generally Accepted Accounting Principles (GAAP); assist with annual audits and regulatory reviews; prepare schedules supporting annual financial audits.

Internal Controls:
Ensure compliance with Authority financial policies and procedures: maintain proper segregation of duties; recommend improvements to accounting processes; assist in developing standard operating procedures.

Reporting:
Prepare monthly financial statements; budget variance reports; cash flow reports; reserve account activity; bank reconciliation report; and maintain confidentiality of sensitive financial, personnel, and organizational information.

Perform other related financial and administrative duties as required to support departmental and agency objectives.

• Maintain accurate financial records, prepare journal entries, and reconcile accounts in compliance with GAAP.
• Timely preparation of monthly, quarterly, and annual financial statements with minimal…