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 $2.8 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. VTF’s wholly-owned for-profit subsidiary, Virginia Tech Corporate Research Center, is a business park and operation for commercializing Virginia Tech research and programming.

Responsibilities:

Prepare monthly and quarterly GL reconciliations as well as bank reconciliations in a timely manner to ensure accurate reporting. Prepares journal entries and monthly designation reports in accordance with GAAP. Serve as part of the Financial Reporting team and monitor main depository account daily to ensure all EFT/ACH deposits are properly accounted for in Banner. Prepare the bank reconciliation for the main depository bank. Identify the status of disbursement checks on behalf of Accounts Payable and void any checks issued in error. Prepare weekly gift assessment fee entries. Assist Gift Accounting in accurate recording of gifts to Banner. Assist Wells Fargo credit card users in setting up new cards. Prepare entries to record credit card payments and to distribute expenses to correct fund. Prepare confirmations at fiscal year-end for trust and life insurance investments as well as scan reconciliations to archive and file in accordance with instructions from Records Management. Prepare annual unclaimed property reports, and due diligence letters in accordance with reporting standards.

• Reconciliations – Prepare the monthly bank reconciliations for the main disbursement account and several additional accounts as needed. Prepare the main depository bank reconciliation. Prepare monthly and quarterly general ledger reconciliations. These include investments (stock, government securities, CDs, pooled income funds), trusts and gift annuities (realized and unrealized appreciation), and other asset and liability accounts as needed.
• Journal Entries – Prepare journal entries in accordance with GAAP. These journal entries are associated with the monthly and quarterly reconciliations. Record monthly fees and other entries as needed.
• Reporting – Prepare future designation reports for each college and various other programs monthly. Prepare and monitor VTF internal CD program monthly. Prepare specialized or specific reports as needed.
• Monitoring of Main VTF Bank Account – Print and upload daily bank summaries from the main depository account and to the appropriate individual or department to ensure EFT and ACH deposits are properly recorded in Banner. This frequently involves communication with the bank or donor and departments on campus to confirm designation. Monitor positive pay daily to ensure there are no discrepancies between ACH payments released by VTF and banking information.
• Monitoring of Disbursement Checks – Check status of disbursement checks as needed by AP department. Void checks issued in error.
• Year-End Confirmations, Scanning, and Filing – Responsible for preparing trust and life insurance confirmations at fiscal year-end as part of the annual financial statement audit. Prepare annual reports of unclaimed property and due diligence letters in accordance with reporting standards. Scan reconciliations to archive and file reconciliations and reports in accordance with time restrictions set by Records Management.

Qualifications:

Advanced spreadsheet and data entry skills, excellent verbal and written communication skills, and experience with Microsoft Office, and Banner Finance. Fundamental knowledge of accounting, reconciliations, and ability to analyze data.

Education, Licensure, and Certification required for entry into the position:

Bachelor’s Degree in Accounting

The Virginia Tech Foundation seeks a broad spectrum of candidates, including women, minorities, veterans, and those with disabilities.