Financial Analyst

City of North Chicago, IL

NATURE OF WORK: Performs complex work that involves the examination of the accounting and financial information to provide advice and recommendations. Responsibilities focus on the analysis of financial information, audit, and budget preparation. It involves a high degree of complexity. Incumbent operates independently with minimal supervision.

SUPERVISION: Work is performed under the general direction of the Comptroller. The employee must work independently, within the overall framework and policies set by the Comptroller. Performance is reviewed through observation, completion of daily and assigned tasks, as well as communication with the Comptroller. Work is formally evaluated at least annually, with respect to financial expertise, achievement of goals and objectives, supervisory skills, problem-solving ability, analytical skills, communication skills, and performance in accordance with this classification standard.

PUBLIC CONTACT: The employee has regular and frequent contact with department directors, other employees, representatives of banks and other agencies, consultants, auditors, and other professionals as well as regular contact with individual citizens and groups, business owners, and occasionally elected officials. The employee has frequent contact with City employees; regular contact with vendors; and occasional contact with the general public and outside agencies.

ESSENTIAL FUNCTIONS OF WORK (Specific assignments may include all or some of the following):
-Prepares budgets to include:
-Develops systems for producing a 1-year operating budget and a 5-year capital budget;
-Assesses capital needs based on life-cycle estimates, engineering evaluations, and maintenance costs;
-Assesses fiscal impacts of alternative budget policy and administrative actions and advises staff and elected officials on those findings;
-Evaluates and prioritizes budget requests;
-Drafts explanatory budget text to explain budget assumptions and background information;
-Leads budgeting process and crafts budget according to best practices standards of the Government Finance Officers Association (GFOA) excellence in budgeting award;
-Compiles and organizes operating budget request information;
-Meets with executive staff to develop annual departmental operating requests, and makes recommendations;
-Analyzes and forecasts revenue and expenditure trends;
-Creates templates for tracking historical operating revenues and expenses;
-Supports the City’s long-term financial planning:
-Recommends long-term financial strategies to increase revenues and decrease costs;
-Develops and updates 10-year cash flow model;
-Provides technical support for tax-exempt bond transactions;
-Prepares continuing disclosure information for bond reporting;
-Tracks all financing agreements, including capital leases, intra-city loans/transfers, and bank loans;
-Verifies all debt repayment schedules through recalculation of initial terms on an annual basis;
-Oversees the City’s Tax Increment Finance Fund (TIF);
-Prepares annual TIF reporting and oversees TIF revenue collection;
-Evaluates potential real estate development proposals for costs impacts and revenue potential;
-Works with the City Treasurer on investment strategy, potential consolidation of external bank accounts, and other financial strategies;
-Tracks all grant agreements and provides regular grant reporting to state and federal funding providers;
-Tracks all intergovernmental agreements for compliance;
-Analyzes processes and is current on municipal trends and makes recommendations for budget, fiscal and other improvements such as outsourcing, consolidation, shared services, early retirement, automated cash collections, etc.;
-Analyzes fiscal operations and makes recommendations for improved efficiency and effectiveness;
-Works with the City’s Economic and Community Development Department to track industry, employment, and property value trends;
-Supports and models the identified vision, values, and behaviors of the organization;
-Analyzes, evaluates, and summarizes complex and technical financial and management records for accuracy and conformance to procedures, rules, and regulations;
-Prepares financial status reports; identified variances and coordinates corrective actions with departments or finance staff if needed;
-Adds or makes changes to existing account structure including new classifications, account title changes, summary account changes, etc.;
-Reviews work performed by others for the completion of the City’s audit and other financial reports;
-Makes recommendations and assists with the development of internal controls and accounting policies and procedures;
-In collaboration with the Comptroller and Chief of Staff, oversees the completion of the budget and annual audit;

Manages Accounts Receivable (AR)
-Inputs and ages receivables using City’s AR accounting software module;
-Prepares monthly bank statement reconciliations;
-Reviews AR inputs on an annual basis to ensure proper account placement/coding of receivables;
-Performs year-end reconciliation, annual closeout, and final reporting for financial statements;
-Invoices ARs and performs collections follow-up;
-Oversees third-party collection vendors for contract compliance;
-Estimates annual AR bad debt expenses and write-offs;
-Respond to auditor and Freedom of Information Act (FOIA) requests for AR information;
-Verifies all debt repayment schedules through recalculation of initial terms on an annual basis;

MINIMUM REQUIREMENTS OF WORK:
-Knowledge of City government organization, functions, policies, and rules and regulations;
-Generally Accepted Accounting Principles (GAAP), Government Accounting, Accounting, and Financial Reporting;
-Modern principles and practices of public finance administration, including budget preparation and control and revenue projection principles;
-Proficient computer skills including but not limited to Microsoft Office products and financial operating software systems and databases;
-Five (5) years experience working in government or municipal setting

How to Apply

Application Deadline
Forward their resume to: elibla@northchicago.org or individuals can apply online at: https://www.governmentjobs.com/careers/northchicago

Job Details

Salary
$75,000
-
$89,785
Job Function
Analyst
Position Type
Full Time

City of North Chicago

Address

1850 Lewis Ave
North Chicago, IL 60064-2050
United States

Population
32,000
Form of Government
Mayor-Council

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