Principal Accountant

Description

Under general direction of the Accounting & Finance Manager, leads day‑to‑day Citywide accounting operations, and financial reporting; supervises professional and technical accounting staff (e.g., general ledger/financial reporting, accounts payable/receivable, payroll interface/reconciliation, fixed assets, grants, project/cost accounting); manages the month‑end and year‑end close; coordinates external audit fieldwork and produces the Annual Comprehensive Financial Report (ACFR) and related regulatory reports; ensures compliance with GAAP/GASB and internal controls;

performs related duties as required.

The Principal Accountant is an advanced, professional classification responsible for the operations and production of City accounting and reporting and may provide direction to professional and technical accounting staff.

Works under the general supervision of the Accounting & Finance Manager.

Exercises technical direction to assigned professional and technical accounting staff; provides project leadership to cross‑functional teams; may act for the Accounting & Finance Manager in his/she’s absence.

• Responsible for the monthly, quarterly, and annual close calendar; prepares/reviews/approves complex closing entries; reconciles the general ledger and all subledgers (AP, AR, payroll, inventory, fixed assets, grants, projects); issues fund, cash, and variance reports; ensures accurate fund accounting.
• Performs advanced professional accounting and budgetary work in establishing, analyzing, auditing, reconciling, and maintaining financial records (bank reconciliations, CIP/project accounting, fixed asset capitalization and depreciation, and grants), and monitors transactions for compliance with GAAP, GASB, GAGAS, state/federal regulations, grant and debt covenants, and City policies/internal controls.
• Leads audit preparation and fieldwork (annual financial audit, Single Audit, grant audits, Successor Agency audit); develops PBCs and timelines, coordinates schedules, ensures high‑quality work papers and timely responses; tracks and clears findings; drafts MD&A/notes as assigned; partners with the Accounting & Finance Manager as the City’s lead auditor liaison.
• Produces the ACFR and statutory reports (State Controller’s Reports, Streets Report, Successor Agency ROPS), including statements, notes, RSI, and statistical‑section inputs; prepares monthly/quarterly operating statements and reconciliation schedules; implements new GASB pronouncements and related disclosures in coordination with the Accounting & Finance Manager.
• Maintains City debt records; coordinates payments with fiscal agents; reconciles trustee statements; prepares continuing disclosure information; ensures compliance with covenants; performs and/or assists with accounting for complex financing projects and agreements, including allocations.
• Oversees capitalization/depreciation, project/grant accounting, and cost allocations; reviews allowability, supporting documentation, drawdowns, and reports; coordinates with Grants and Budget on compliance and reporting.
• Provides administrative and analytical support in planning, developing, reviewing, and implementing designated budgets and accounts; monitors and evaluates budget performance; prepares revenue/expenditure projections; analyzes program/project costs and recommends allocations; collaborates with Budget on year‑end estimates and forecast alignment; assists with the City’s annual budget.
• Administers the chart of accounts; performs GL setup/close; serves as ERP business owner for GL/projects/fixed assets/AP-AR interfaces; builds and validates interfaces; establishes and maintains automated records/files; designs queries and reconciliation/closing/audit reports; partners with IT on upgrades, user access, and internal controls.
• Develops and maintains internal controls over financial reporting; documents SOPs; conducts risk assessments; leads cross‑training; implements workflow/process improvements to strengthen accuracy, timeliness, segregation of duties, and audit readiness; recommends policy updates to the…