Controller

The Controller is a full time, 12-month position reporting directly to the CFO/Associate Head of School. The Controller is an integral part of the Finance Office responsible for preparing financial reports, such as internal income statements, balance sheets, and other special reports as needed, and assists in the analyses of historical and future income and expenses. The Controller supervises accounts payable, accounts receivable and manages the functions of general ledger accounting, audit and budgeting. The Controller is also responsible for recommending and administering all accounting policies and procedures, ensuring that strong internal controls and effective transaction processing routines protect the assets of the school and result in meaningful, timely and accurate financial reporting. 

Essential Duties and Responsibilities:

Financial transactions, records, reporting

• Responsible for managing the accounting department, ensuring accurate and timely financial information.
• Create and maintain sound accounting processes and internal controls. Ensure the internal control system functions in accordance with established policies and procedures.
• Oversee the accounting operation, including supervision of student billing and accounts payable.
• Identify opportunities to create operating efficiencies and implement automation processes.
• Provide support in the hiring and training of accounting department staff.
• Maintain the chart of accounts for five funds: Operating, Temporarily Restricted, Permanently Restricted, Plant, and Campaigns.
• Ensure accurate and appropriate coding and/or approval of all revenue, expenditures and journal transactions to their appropriate accounts.
• Review and post all gifts—cash, stock and in-kind—and reconcile monthly with Advancement office records.
• Work closely with Human Resources to accurately record payroll and benefits information.
• Maintain general ledger (GL), including monthly reconciliation of all subsidiary ledger accounts to the GL.
• Maintain fixed asset and depreciation records, including project code accounts for fixed asset sub-ledger reporting.
• Prepare, post and reconcile all investment activity and related accounting entries, and prepare all associated spreadsheets and analyse
• Prepare all required regulatory filings, including but not limited to, VA unclaimed funds, VA sales tax, VA DMV Fuel Tax Refund Application, and VA annual SCC report.
• Communicate accounting policies to employees and ensure compliance with such policies.
• Remain current on new regulations in GAAP and relevant non-profit accounting and finance matters.
• Provide support for the CFO at Finance Committee and other Board-related meetings.
• Maintain all general and permanent Finance Office files for the school.
• Perform all other duties as assigned.

Budgeting

• Prepare draft budget for every income and expense account, including 3-year historical detail for each account. Distribute to budget managers and enter into Veracross once budget is approved.
• Review financials regularly and analyze variances in actual vs. budget for each GL account.
• Distribute monthly actual vs. budget reports to all budget managers and division/department heads and respond to any questions about the data.

Cash Management and Loan Compliance

• Prepare signature cards and corporate resolutions for new bank accounts; maintain banking files.
• Prepare all monthly bank reconciliations, monitor operating cash accounts, and prepare the full-year cash flow statement.
• Ensure timely payment of debt service and compliance with bond covenants.
• File all required financial reports with lender per debt covenants.

Audit

• Manage the entire preliminary and annual audit process, acting as the primary liaison between the school and auditors in completing the “prepared by client” workpapers, organizing supporting documents, and maintaining the audit schedule.
• Prepare the comprehensive financial documentation, including but not limited to, draft financial statements, net asset allocations, fixed assets, and statement of functional expenses.
• Oversee internal controls, facilitate staff responses to audit inquiries/requests, and perform any post-audit adjustments, as needed.
• Prepare the Form 990 and 990-T with the independent audit firm, including all comprehensive supporting schedules and analyses.

Surveys and Peer Reporting

• Prepare all periodic surveys and compliance reports for various school industry organizations (e.g. NAIS, NBOA, Commonfund, etc.), as well as other internal and external information requests for financial data.

• CPA with a bachelor’s degree in accounting and a minimum of 5 years’ experience in non-profit accounting
• Experience in a similar role, including managerial experience
• Independent School experience is a plus
• Working knowledge of nonprofit accounting is essential
• Strong organization, written and verbal communication, and interpersonal skills
• Strong proficiency with Excel, Office and other computerized accounting systems is required (experience with Veracross highly beneficial)
• Highest regard for confidentiality and exemplary ethical standards is necessary
• Ability to manage multiple tasks and projects under the pressure of deadlines.

In striving to fulfill its mission, The Potomac School seeks candidates of diverse backgrounds who embody our core values of courage, integrity, humility, perseverance, and respect.