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Commonwealth of Pennsylvania |
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POSITION DESCRIPTION FOR JOB POSTING |
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Position Number: 50626401 |
Description Activated On: 12/19/2024 2:59:51 PM |
Position Purpose: Describe the primary purpose of this position and how it contributes to the organization’s objectives. Example: Provides clerical and office support within the Division to ensure its operations are conducted efficiently and effectively. Under the direction of the Director of municipal accounting, this position is responsible for preparing accrual entries, reconciling general ledger accounts, and preparing various financial reports and analysis. This position is also responsible for reconciling the financial data at an employer level for approximately 1,000 pension plans and ensuring the accuracy and completeness of data for the Year-End Activity Reports and the GASB 68 Reports for each municipality. This position assists in preparing the Annual Budget, the Annual Comprehensive Financial Report (ACFR), and the GASB 68 Statement of Changes in Fiduciary Net Position by Participating Municipality. |
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Description of Duties: Describe in detail the duties and responsibilities assigned to this position. Descriptions should include the major end result of the task. Example: Types correspondence, reports, and other various documents from handwritten drafts for review and signature of the supervisor. Prepare various accrual entries for monthly, quarterly, and year-end close processes, including but not limited to, cash in transit, accounts receivable, prepaid assets, capital assets and accumulated depreciation, accounts payable, accrued expenses, net pension liability, deferred inflows (outflows), other post-employment liability, and year-end closing entries to net assets. Review interface file from the State's SAP system for bi-weekly personnel expenses prior to posting to the accounting system. Prepare monthly cost allocation entries to ensure proper distribution of expenditures to the appropriate division for the preparation of monthly budget reports. Post credited interest income to member and municipal accounts. Calculate and prepare accounting entry for credited interest income for retiree and disability accounts. Calculate and prepare monthly accounting entry for Deferred Retirement Option Program (DROP) interest. Calculate and prepare accounting entry for excess interest income for member, municipal, retiree, disability, and DROP accounts. Perform various monthly reconciliations of the pension plans' and Systems' accounts, including various reserve accounts (member, municipal, retiree, disability, DROP, and undistributed earnings), balance sheet accounts, and revenue and expense accounts. Research and prepare adjusting journal entries to correct identified reconciling differences. Perform monthly cash reconciliation and reconciles amounts reported by Treasury and SAP to the general ledger. Verify all information reported by SAP is included in Treasury reporting. Track items that are not reported on either SAP or Treasury reporting due to timing differences and resolves any posting discrepancies between systems. Perform monthly reconciliation of receipts and disbursements to the appropriate sub-ledger and coordinate with general accounting as needed to assist in reconciling A/R and A/P sub-ledgers to the general ledger. Reconcile fixed assets and prepare monthly depreciation entries. Reconcile reserve accounts for member, municipal, retiree, disability, DROP, and undistributed earnings and ensure proper accounting of reserve transfers. Reconcile the member accounting transactions generated from the pension administration system by municipality to the accounting system. Monitor balance sheet accounts to ensure proper maintenance, posting are appropriate, transactions cleared in a timely manner, reconciliations are being performed timely, and accounts are being properly used for accounting and reporting in accordance with GAAP and GASB. Review monthly general ledger detail for all transactions for proper accounting and posting to the correct general ledger account. Review available balances for open fund commitments and reconcile invoice payments to ensure proper accounting for encumbrance balances. Assist in preparation of annual budget and monthly reporting to ensure that spending is within authorized limits and that the related expenditures and encumbrances are properly recorded. Prepare monthly, quarterly, and year-end financial statements and reports as well as assist in the preparation and review of the System's ACFR and specific schedules for year-end audits. Participate in the review and implementation of commonwealth legislation, new Governmental Accounting Standards Board (GASB) pronouncements, and IRS regulations. Post and reconcile the financial data at an employer level for approximately 1,000 pension plans and ensure the accuracy and completeness of data for the Quarterly and Year-End Activity Reports for the member and municipal accounts and the GASB 68 Reports for each municipality. Serve as back up to municipal accounting accountant 1 and fiscal tech duties. Assist in the review of the Year-End Activity Reports for the member and municipal accounts and participate in resolving accounting-related issues associated with the issuance of these reports to the municipalities. Assist in the review of financial information submitted to actuary and participate in resolving accounting-related issues associated with the issuance of the annual GASB 68 reports and system-wide Actuarial Report. Assist in preparing the GASB 68 Statement of Changes in Fiduciary Net Position by Participating Municipality and reconciling to the System's ACFR. Prepare regularly scheduled board reports, financial reports, accrual statements, expenditure reports, projections, and special analysis. Perform analytical reviews to ensure accuracy, completeness, and consistency of information reported in financial statements, budget submission to the legislature, and Board reports. Calculate interest payable for overpaid state aid amounts to assist municipalities in determining the amount to be returned to the Auditor General and ensuring corrective action to audit findings. Calculate final payout amount for plan withdrawals and prepare Voucher Transmittal for payment processing. Prepare Voucher Transmittal for municipal refunds of overpaid contributions. Prepare ad hoc reports and distribute to municipalities for Auditor General AG-490 Form. Respond to information requests received from PMRS staff, commonwealth agencies, municipalities and their auditors, and other external entities. Assist in establishing and maintaining appropriate chart of account code structure. Develop and maintain various accounting procedures. Prepare various financial analyses as requested by management. Lead and participate in special projects as requested by management. Perform other duties as assigned. |
Decision Making: Describe the types of decisions made by the incumbent of this position and the types of decisions referred to others. Identify the problems or issues that can be resolved at the level of this position, versus those that must be referred to the supervisor. Example: In response to a customer inquiry, this work involves researching the status of an activity and preparing a formal response for the supervisor’s signature. This is a management position and is not subject to the provisions of a collective bargaining agreement. |
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Requirements Profile: Identify any specific experience or requirements, such as a licensure, registration, or certification, which may be necessary to perform the functions of the position. Position-specific requirements should be consistent with a Special Requirement or other criteria identified in the classification specification covering this position. Example: Experience using Java; Professional Engineer License Experience: Licenses, registrations, or certifications: 1. N/A 2. N/A 3. N/A 4. N/A 5. N/A 6. N/A |
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Essential Functions: Provide a list of essential functions for this position. Example: Transports boxes weighing up to 60 pounds.
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