FINANCIAL ACCOUNTANT I

Position Details

Job Code #:

JC-521923

Position #(s):

051-420-4191-001

Working Title:

Financial Accountant I

Classification:

FINANCIAL ACCOUNTANT I

$7,529.00 - $9,352.00

New to State candidates will be hired into the minimum salary of the classification or minimum of alternate range when applicable.

# of Positions:

1

Work Location:

Sacramento County

Telework:

Hybrid

Job Type:

Permanent, Full Time

Facility:

State Accounting and Reporting Division

Department Information

The Office of the State Controller (SCO) is the destination employer within the State of California. As California’s chief fiscal officer, the Controller’s Office ensures accountability and transparency of California’s financial practices while promoting fairness and opportunity for all. Here, you’ll work in a collaborative and supportive environment with diverse opportunities for professional growth and development. A career with the SCO offers meaningful work that directly impacts the state’s future.

The State Accounting and Reporting Division (SARD) of the California State Controller’s Office plays a crucial role in ensuring the transparency, accuracy, and efficiency of the state’s financial operations. As the backbone of California’s financial reporting, SARD is responsible for preparing and publishing essential financial statements, overseeing the state’s budgetary control, and providing vital fiscal information to policy decision-makers and the public. Working in this division means contributing to the financial stability and integrity of the fifth-largest economy in the world with opportunities to engage in meaningful work, learn from seasoned experts, and grow your career in public finance.

Take the next step in your career with an organization that values innovation, integrity, and the well-being of its employees. Apply today and build a California where everyone thrives!

Visit our website to learn more about the State Controller’s Office.

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Job Description And Duties

Under the general direction of the Section Supervisor, a Financial Accountant II, the incumbent performs sensitive fiscal analysis associated with the State’s total spending plan to ensure sufficient cash availability to meet the state’s financial obligations, and makes recommendations to Executive management as to the need of implementing cash management strategies. The incumbent, operating at the professional financial accountant level, exercising a high degree of independence, and often serving in a lead capacity to other professional financial accounting staff, performs a variety of the most complex financial accounting and cash management duties. The incumbent prepares periodic and monthly financial reports in conformance with Generally Accepted Accounting Principles (GAAP), and governmental budgetary principles, practices and procedures of public finance and reporting requirements.

Duties Performed:

(Candidates must perform the following functions with or without reasonable accommodations.)

• Utilize various automated models to compile and evaluate the most complex data sets in order to build statistical models and accurate daily forecasts of General Fund cash flows of the State’s General Fund revenues, expenditures, and available borrowable resources.
• Apply proposed budget changes, cash management solutions, and various trend analysis models to develop different cash flow scenarios.
• Analyze proposed and chaptered legislation and economic events to determine impact on the State’s cash position and Bureau workload.
• Provide cash management recommendations to the Division and the SCO’s Executive Office management.
• Monitor the cash position of the State’s General Fund and make comparisons to estimates. Research significant variances to determine long-term impact on the cash forecasts.
• Maintain databases and reports of historical financial data for use in ongoing analysis.
• Reconcile the General Fund cash accounts and prepare the monthly Statement of General Fund Cash Receipts and Disbursements for publication in accordance with Generally Accepted Accounting Principles. Research and provide explanations for the changes and variances of actuals to estimates.
• Analyzing and preparing the Pooled Money Investment Board (PMIB) Forecast of Changes in Portfolio for each bi-monthly reporting period. Represent the SCO at PMIB meetings and present the Net Changes in the Investment Portfolio. Perform analysis and provide explanations for variances of actuals to estimates.
• Prepare forecasts of available borrowable resources by analyzing and evaluating the special fund cash receipts, disbursements, and daily cash balances. Determine trends in revenues and expenditures and monitor cash flow to ensure sufficient cash is available to meet the State’s obligations. Prepare legal opinion requests and provide supporting documentation to the SCO’s legal office to determine which Special Funds are legally…