Grants Accountant

Virginia Tech Foundation, Inc. (VTF) is a nonstock corporation established in 1948 for the sole purpose of managing the endowment and real estate portfolio of Virginia Tech, now valued at $3.4 billion. VTF exists and operates as a separate, independent entity with its own officers and governing board – managing, investing, and distributing private resources to advance Virginia Tech’s mission and its strategic priorities. Virginia Tech Corporate Research Center, Inc. (VTCRC), in all its locations, is where education meets business. VTCRC is a place and a paradigm at work within an ever-changing landscape, wherever Virginia Tech is present. VTCRC is the wholly owned for-profit subsidiary of VTF.

Position Summary:

Reporting to the Controller, the Grants Accountant is responsible for the accounting, financial monitoring, reporting, reconciliation, and compliance support for grant-funded activities. This position ensures grant transactions are recorded accurately and timely, expenses are reviewed for allowability and consistency with award terms, financial reports are prepared in accordance with sponsor requirements, and grant records are maintained to support audit readiness and internal controls. The Grants Accountant works closely with program, accounting, and leadership teams to support effective grant administration and responsible stewardship of restricted funds. This position has access to confidential, proprietary, and sensitive financial information.

Role & Responsibilities:

Grant Accounting, Reporting, and Compliance:

• Maintain accurate accounting records for grant-funded activities, including restricted fund balances, revenues, expenses, receivables, and deferred revenue as applicable. Complete a new fund request for ERP tracking, supplying all grant supporting documentation. 

• Review grant expenses for allowability, allocability, reasonableness, and consistency with award terms, budgets, and internal policies
• Prepare and post journal entries, budget adjustments, cost transfers, and other accounting transactions related to grant activity
• Perform monthly reconciliations of grant accounts, project budgets, receivables, cash receipts, and related general ledger activity
• Prepare financial reports, reimbursement requests, drawdowns, invoices, and supporting schedules in accordance with sponsor requirements and internal deadlines. 
• Coordinate with program staff to verify that required financial records and supporting documentation for grant-funded activities are complete prior to submission
• Assist program staff with processing grant-related remittances and reimbursement requests in accordance with organizational policies, sponsor requirements, and applicable grant terms
• Track and monitor grant-related expenditures against approved budgets, identify potential budget variances or compliance concerns, and communicate issues that may warrant budget revision requests or other timely resolution
• Maintain organized grant accounting files, supporting documentation, and audit schedules to support compliance reviews, sponsor inquiries, and year-end audit requirements
• Support grant closeout by ensuring all expenditures are recorded, reconciled, and supported by appropriate documentation; assisting program staff with compiling records required for final reporting and audit purposes; and helping complete grant financial closeout activities accurately and timely manner

Financial Analysis, Internal Controls, and Process Support:

• Assist with the development and review of grant budgets, budget revisions, forecasts, and financial projections
• Analyze budget-to-actual results and provide clear explanations of variances, spending trends, and available balances
• Support the design, documentation, and consistent application of grant accounting procedures and internal controls
• Coordinate with Accounting, program staff, and leadership to resolve grant accounting questions and improve financial reporting processes
• Assist with year-end close, audit requests, compliance reviews, and preparation of schedules related to grants and restricted funds

Collaboration, Training, and Other Duties:

• Provide guidance to program and accounting staff regarding grant accounting requirements, documentation expectations, and financial reporting timelines
• Participate in meetings related to grant status, reporting, closeout, and compliance matters

Perform other accounting, reporting, and special project duties as assigned

Qualifications:

• Experience with grant accounting, fund accounting, restricted fund accounting, or sponsored program financial administration

• Demonstrated ability to interpret award terms, financial requirements, policies, procedures, and compliance standards
• Experience preparing financial reconciliations, budget-to-actual analyses, journal entries, and grant-related reports
• Strong attention to detail and ability to maintain accurate documentation for audit and compliance purposes
• Proven ability to prioritize and manage multiple deadlines in a complex financial environment
• A strong commitment to customer service and collaboration with internal and external stakeholders
• Excellent written/oral communication and organizational skills
• Demonstrated proficiency in Microsoft Office Suite, particularly Excel

• Bachelor’s degree in accounting, finance, business administration, or a related field

• At least two years of applicable accounting, grant accounting, fund accounting, or financial reporting experience required
• Experience with nonprofit, higher education, governmental, or sponsored program accounting preferred
• CPA, CPA candidate, CGFM, or other relevant professional certification preferred but not required

Salary:

• $68,000 - $75,000

Physical Requirements:

Equal Opportunity Employer

Virginia Tech Foundation, Inc. (VTF) provides equal opportunity in employment to all employees and applicants. The Foundation prohibits discrimination, harassment, and retaliation against employees and applicants on the basis of age, color, sex (including pregnancy, childbirth, and related medical conditions), disability, gender, gender identity, gender expression, national origin or ancestry, political affiliation, race, religion, sexual orientation, genetic information, military or veteran status, marital status, or any other basis protected by federal and Virginia state law.