The purpose of this position is to effectively manage all financial assets and activities of the DowntownDC Business Improvement District (BID). The position leads the finance department and provides oversight in the preparation of financial information. The Director of Finance and Budget also provides insight and interpretation of the financial data to better plan for the company’s future and continued success. This position is responsible for all financial functions, internal reporting, contract and grant management, treasury and tax matters, financial planning, budgeting and analysis for the BID and affiliate companies.
Financial Management and Control
- Develops, maintains, and implements administrative policies and procedures in the areas of accounting, cash management, procurement and supply, fixed assets, records retention, and inventory control. Develops and maintains reporting systems and implements internal controls that provide guidance to staff members on such issues.
- Oversees general accounting that includes accounts payable, accounts receivable, cash management, cash flow analysis, billing and general ledger functions.
- Maintains check signing authority and wire approval authority.
- Completes monthly review of financial information and completes monthly cash flow analysis and oversees the preparation of timely financial reporting meeting internal and external needs.
Facilitates and coordinates the organization’s budgeting process with appropriate Departmental Directors. Works with Directors to develop final budgets and program spending plans to be presented the Executive Committee, the Board of Directors, and the membership.
- Monitors actual expenditures to budgeted expenditures and manages the budget reporting process.
- Establishes and updates annual target revenue and expense expectations for organization.
- Continually analyzes variances in projected revenue and expense line item accounts to determine appropriateness of modifying budgets.
- Communicates with Directors and handles questions and problems related to all budget and cost needs.
- Implements financial/budget reporting systems, including financial forecasting; prepares regular and special accounting and financial reports for department needs.
- Recommends procedural changes; reviews data periodically to analyze trends affecting budget/accounting needs.
- Recommends forecast changes when the financial conditions differ significantly from assumptions.
Procurement, Payables and Contract Management
- Approves and administers grants, contracts and leases in accordance with stated terms and conditions. Ensures contracts, leases, letter of intents, memoranda of understanding, are in compliance with applicable statutes; follow competitive bidding process; are conscionable; are enforceable and are free of contractual liabilities.
- Reviews monthly expenditures in conjunction with monthly financial review as related to the purchase of supplies, services, and material related to general programmatic support.
- Ensures, through review of documentation, that competitive bid process is in place and properly used. Assists in negotiating contracts as needed.
- Review contracts to be signed with vendors to assess the impact on the finances of the organization.
Revenue Recognition-Tax Billings
- Supervises staff person who completes the tax billing/revenue recognition process. Provides assistance as needed in working with the City and property owners regarding tax billing issues.
- Reviews past due and interest penalties for reasonableness on a monthly basis and assists with collections efforts as needed.
- Responsible for reconciliation of the tax database to the General Ledger on a monthly basis.
- Makes financial presentations either in conjunction with or in the absence of Treasurer and/or Executive Director.
- Ensures that all aspects of the organization are properly insured.
- Composes correspondence, prepares reports and handles complex requests and projects.
- Responsible for coordination of the annual financial statement audit with external auditors.
Position reports to the Executive Director and supervises the accounting and finance support positions.
This position has broad scope, and primary financial responsibility and decision-making authority.
Exercises high degree of independence and initiative in handling fiscal matters, establishing procedures; interpreting and applying Board mandates and ensuring compliance with all applicable local and federal regulations.
- Bachelor’s degree in finance, business administration, management, accounting or related field required; master’s degree and/or CPA preferred.
- Minimum of seven years financial management experience required, at least five at the management level, preferably in non-profit or development environment.
- Thorough knowledge and understanding of principles and practices of accounting and budgeting, and financial oversight, required.
- Advanced computer skills, including proficiency with accounting and spreadsheet software packages required.
- Technology savvy with experience selecting and overseeing software installations and managing relationships with software vendors; advanced knowledge of accounting and reporting software.
- Clear written communication skills, and excellent verbal communication to represent the organization with Board members, city officials, property owners and other stakeholders, auditors and legal counsel.
- Ability and desire to translate complex financial concepts to individuals at all levels including finance and non-finance managers.
- Outstanding level of discretion and professional maturity required. Ability to handle multiple priorities, meet deadlines and maintain high productivity, accuracy and attention to detail, required.
Interested candidates should submit their resume and cover letter to HR Manager Parker Roach at firstname.lastname@example.org.
The DowntownDC BID offers competitive salaries, excellent benefits, and a convenient location near the Metro Center and McPherson Square Metrorail stations.
The Downtown Business Improvement District is an Equal Opportunity Employer.