Development Accountant

Job Description

Job Description

Description : Accounting

• Assemble necessary items for equity installments and soft debt funding
• Review closing proformas to gauge project performance
• Estimate equity adjusters periodically based on project performance during the construction period, post-completion and prior to stabilization
• Update cash flow projections and flow of funds of project sources against total future uses
• Prepare monthly draw packages for submittal to lenders including : Reconciliation of project receivables; Review of key dates during the construction phase to ensure timely addition of invoices; Communicating with the Accounts Payable department to resolve discrepancies; Correspondence with Senior Accountant for necessary entries into Viewpoint or Onesite; Compiling invoice support or other backup documentation to provide to lenders; Preparation of lender exhibits
• Assist with lender and / or inspector questions
• Record receipt of draws into accounting software
• Track lease up projections to estimate potential equity adjusters and flow of funds post completion through stabilization
• Review project TBs to ensure reconciliations are accurate
• Assist in year-end reconciliations of TBs for tax return purposes
• Record capitalization entries

Administration

Communication

Requirements :