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Please apply online at: Capital Asset Analyst - Richmond, Virginia, United States

 

Title: Capital Asset Analyst

State Role Title: Financial Services Spec II

Hiring Range: $64,750 - $105,219

Pay Band: 5

Agency: VA Dept of Transportation

Location: Old Hwy. Building

Agency Website: https://www.virginiadot.org/

Recruitment Type: General Public - G

 

Job Duties


The Virginia Department of Transportation (VDOT) is excited to offer and announce an opportunity to serve as a Capital Asset Analyst in our Central Office Fiscal Division. This position is located in Richmond, Virginia.

What drives you?  Whether it's knowing the work you do makes a difference, having a great work/life balance, working on exciting and challenging projects, leading innovation and championing change or simply working with a great group of people who are committed to professionalism, at the Virginia Department of Transportation (VDOT), we have something for you.  

The selected candidate will administer, manage and maintain statewide programs ensuring VDOT compliance and accountability with Department of Accounts (DOA state) requirements including compliance with Generally Accepted Accounting Principles (GAAP) and the Governmental Accounting Standards Board pronouncements.

Position-specific responsibilities and duties will include but are not limited to:

Major Equipment - Develop and maintain internal policies and procedures for the Statewide Major Equipment Program in accordance with the requirements of the DOA policies and procedures. Maintain the Major Equipment Database, performing data entry of additions, deletions, and changes to the status of equipment in addition to preparing, and distributing detailed analysis reports. Prepare summary submission of total Major Equipment balances, additions and disposals. Assist in the coordination and completion of the Statewide Major Equipment Physical Inventory. Complete monthly expenditure reviews to capture new capitalizable equipment. Perform reconciliations and analyses of Major Equipment financial information ensuring proper recordation of assets.
 

Fleet and Minor Equipment – Provide oversight and guidance of VDOT’s internal fixed asset system for fleet and minor equipment. Support the bi-annual physical inventory process for such equipment. Perform reconciliations and analysis ensuring asset additions and disposals are properly recorded and reported within the correct fiscal year.

Real Property Assets – Develop and maintain internal policies and procedures for VDOT’s Fixed Asset Accounting and Control System (FAACS) database. Maintain the VDOT FAACS database performing data entry of additions, deletions and changes to the status of assets. Prepare the summary submission of total real property asset balances, additions and disposals. Assist in the coordination and completion of the Statewide Real Property Physical Inventory.

Construction In Progress (CIP) – Compile work-in-progress information quarterly for multiple divisions to ensure that all increases to CIP projects are correct and that all decreases that reflect completion of projects are properly reflected in the submission of FAACS Real Property Acquisition and Disposal Form.

Summary Submission of Capital Asset Data to DOA – Compile data from all VDOT Capital Asset systems to prepare entries to DOA’s statewide Fixed Asset Accounting and Control System (DOA FAACS). Prepare the FAACS reconciliation, related Summary Entry, and Journal entry to reclassify assets.

Leases – Develop and maintain program methodologies and internal policies and procedures to ensure VDOT’s compliance with GASB 87, Leases. Communicate with VDOT Divisions and Districts and review expenditures to ensure VDOT captures all arrangements that meet the requirements of the accounting standard. Compile lease data and ensure all are properly recorded in the Commonwealth’s central lease accounting system. Monitor and provide oversight for Districts to enter their leases directly to the central reporting system. Provide technical assistance to field staff and interact with DOA staff to resolve lease issues and questions. Maintain statewide lease supporting documentation and other files for auditing purposes.

Subscription-based information technology arrangements (SBITAs) – Develop and maintain program methodologies and internal policies and procedures to ensure VDOT’s compliance with GASB 96, SBITAs. Communicate with VDOT Divisions and Districts and review expenditures to ensure VDOT captures all arrangements that meet the requirements of the accounting standard. Gain comfort and confidence in reviewing cloud-based technology contracts, to determine the SBITA term, identify fixed and variable costs, recognize components required to determine an implicit borrowing rate or be able to assign VDOT’s determined borrowing rate for the arrangement. Compile SBITA data and ensure all arrangements are properly recorded in the Commonwealth’s central reporting system. Provide technical assistance to field staff and interact with DOA staff to resolve SBITA issues and questions. Maintain statewide SBITA supporting documentation and other files for auditing purposes.

Additional Tasks – Update policies and procedures, internal control narratives, and training materials. Identify undocumented processes and assist the team in preparing the necessary process documentation. Help the team with GASB Standard or DOA pronouncement implementations. Respond to the Auditors of Public Accountants and ensure that audit assertions are met for all relevant transactions or balances. Handle new projects as they come. Provide statewide customer service and technical assistance to field staff and interact with DOA staff to resolve issues and answer questions.
 

 

Minimum Qualifications

• Knowledge of generally accepted accounting principles (GAAP) as applied to governmental organizations and practices including fixed asset accounting.
• Experience maintaining complex accounting records.
• Ability to read, interpret, apply, and evaluate compliance with federal, state, and local laws, rules, and regulations.
• Ability to collect and analyze data, assemble and prepare reports and statements covering accounting, legal and financial areas.
• Ability to work independently and as a team member within existing guidelines, policies, and procedures.
• Ability to serve as a resource to staff members in areas of special expertise.
• Ability to exercise discretion and judgment when making recommendations as to capital asset questions.
• Skill in the use of computers and web-based applications.
 

 

Additional Considerations

• Experience in general accounting applications with concentration in database management.
• A combination of training, experience or education in Accounting, Finance, Business Administration or related field desired.
• Experience working with state and federal policies and procedures. Experience extracting data from financial systems using queries and other techniques.
• Ability to communicate effectively orally and in writing with internal and external customers.