Financial Specialist

Chicago Public Schools (CPS) is the third largest school district in the United States, serving over 360,000 students in 600+ schools and employing nearly 36,000 people, most of them teachers. CPS has set ambitious goals to ensure that every student, in every school and every neighborhood, has access to a world-class learning experience that prepares each for success in college, career and civic life. In order to fulfill this mission we make three commitments to our students, their families and all Chicagoans: academic progress, financial stability and integrity. Six core principles are embedded within these commitments - student centered, whole child, equity, academic excellence, community partnership, and continuous learning.

The Financial Specialist records, tracks, and report on all District revenue and receivables ($2.5 billion), with the exception of property tax and ensures proper revenue recognition in alignment with all applicable Government Accounting Standards Board (GASB) standards. Directs the preparation of claims and reconciliations for grants and other revenue activities; Preparation of monthly, quarterly and annual reports. Develops, maintains and enhances accounting and financial policies, processes and procedures to streamline revenue recognition activities to create operational efficiencies. Contributes to the development of the Comprehensive Annual Financial Report (CAFR) and Schedule of Expenditures of Federal Awards (SEFA). This position manages the Accounts Receivable (AR) Module and Grants Maintenance Module (GMT) and is responsible for the accuracy and integrity of these modules; leads the grants acceptance and appropriations process; revises, develops and implements policies and procedures related to District-wide receivable collections, payments and refunds; and oversees the District's Epay program. This position will manage 9 FTEs.

Key Responsibilities:

a) Review and ensure accurate recordation of revenues, reimbursable claims and cash receipts, including General State Aid, Federal, State and Local grants, etc.

b) Assist in enhancing current systems and implementing new systems, controls and procedures that will afford an efficient operation of the department and Chicago Public Schools.

c) Assist in policy development related to revenue activities, ensuring compliance with Governmental Accounting Standards Broad (GASB) Standards, Government Finance Officers Association (GFOA) Best Practices and Advisories, U.S. Office of Management and Budget (OMB) Guidance, and other Federal, State and Local regulatory directives.

d) Oversees the onboarding and revenue activities for the District's Epay program.

e) Utilizes the Accounts Receivable module to ensure District revenues and receivables are properly recorded and applied. Creates operational efficiencies within the module and implements controls. Ensures revenue transactions are transferred and reconciled to the general ledger.

f) Assist in the development of new and revised current CPS policies involving debt collections, aging of receivables, gifts, grants and donations, etc.

g) Administer the Grants Maintenance Module to ensure all District revenues are properly categorized and grant attributes properly recorded.

h) Prepares monthly, quarterly and annual revenue reports.

i) Review and approve all reimbursable grant claims and monitor grant reconciliation activity to ensure all funds are properly claimed in a timely manner.

j) Administer the acceptance process for all revenues received by the District including the appropriation of funds received from private grants, gifts and donations.

k) Assist in the District's preparation of financial reports including the CAFR, interim/quarterly financial statements, and the State of Illinois Annual Financial Report.

l) Ensures timely processing of refunds and financial reporting of such activities.

m)Assist in the preparation of monthly reports to the Board of Education for all grants, gifts and donations received in excess of $50,000, all related cost-sharing obligations contained in such grants, gifts or donations in excess of $50,000, and all refunds of unspent grants, gifts or donations in excess of $5,000.

n) Reviews GSA and Medicaid reimbursement claims prior to filing and ensures proper revenue recognition and recording.

o) Assist with year-end planning for Accounts Receivable and implementation.

p) Administer the annual carryover process for all special income funds received.

q) Provide assistance and review in the development of the SEFA (Schedule of Expenditure of Financial Awards) and report the status of grant closeouts and respond to audit requests.

r) Prepares financial calculations and audit related workpapers and schedules.

Education and Experience:

Bachelor's Degree in Business, Accounting, Finance or related field

3+ Years working in a demanding financial operations environment

Prior work experience assisting with financial statement preparation and reporting

Computer Skills:

Advanced Microsoft Office skills, including Excel, Word and PowerPoint; Oracle Financials, SQL programming language is a plus. Advanced Oracle experience in a large government organization is required.

Residency Requirement :

As a condition of employment with CPS, employees are required to live within the geographic boundaries of the City of Chicago within six months of his or her CPS hire date and maintain residency throughout their employment with the district.