Federal Draw and Revenue Accountant
Federal Draw and Revenue Accountant
Posted on :
27-04-2025
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1 Vacancy
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Job Description
Introduction
The Maryland State Department of Education is dedicated to supporting a worldclass educational system that prepares all students for college andcareer success in the 21st century. With excellent stewardship from ourdivisions we oversee State and federal programs that support the needs ofa diverse population students teachers principals and other educatorsthroughout Maryland.
This recruitment is limited to current employees withinMSDE Accounting Department Division of Financial Planning Operations & Strategyonly.
GRADE
18
LOCATION OF POSITION
Nancy S. Grasmick Education Building
200 West Baltimore St
Baltimore MD 21201
Main Purpose of Job
The Federal Draw and Revenue Specialist manages the drawdown and revenue processes for federal grants to ensure the timely and accurate receipt allocation and reporting of federal funds. This includes processing fund drawdowns reconciling revenues maintaining compliance with federal regulations preparing required financial reports and supporting accounting operations through journal entries and system setup. The role is essential for maintaining the integrity of grant financial data and ensuring effective cash management
POSITION DUTIES
- Process drawdowns twice a month from federal payment systems including PMS G5 ASAP and FedWire.
- Ensure timely and accurate submission of drawdown requests.
- Maintain detailed backup documentation including expenditure reports from Cognos DAFR T100/T200 and 66 screen screenshots to support drawdowns.
- Process refunds for overdrawn grants as needed.
- Verify that cash received from drawdowns is accurate and properly allocated to general ledger accounts grants phases and PCAs.
- Ensure the proper allocation of revenue from the clearing account across programs and accounts reconciling the clearing account after each draw to maintain a zero balance (including prior years).
- Propose and process adjusting entries to correct errors in revenue allocation.
- Ensure compliance with federal regulations grant terms and conditions.
- Prepare financial reports required by federal agencies and internal stakeholders including Form 425/FFR.
- Maintain a drawdown log that tracks expenditures and cash receipts by grants / CFDA for cash management reporting.
- Respond to audit inquiries and provide journal entry backups as required for drawdowns and revenue received.
- Prepare journal entries for expendable budgets.
- Assist in setting up FMIS data including PCAs and grants.
- Support the team by gathering documentation and entries for chargeback transactions.
- Assign review and approve the work of and train lowerlevel Accountants
MINIMUM QUALIFICATIONS
Education: A Bachelors degree in Accounting from an accredited college or university including or supplemented by three credit hours in auditing.
Experience: Four years of experience examining analyzing and interpreting accounting systems records and reports by applying generally accepted accounting principles to include two years performing advanced duties in the areas of cost accounting systems accounting federal fund accounting or bond and loan accounting.
Notes:
1. Candidates may substitute a Bachelors degree from an accredited college or university with thirty credit hours in Accounting and related courses including or supplemented by three credit hours in auditing for the required education.
2. Applicants who have met the requirements for admission to the CPA examination prior to July 1 1974 will be considered to have met the educational requirement referenced above.
3. Possession of a certificate as a Certified Public Accountant or a Masters degree in accounting from an accredited college or university may be substituted for one year of the required general accounting experience.
4. Applicants may substitute one year of professional auditing experience for one year of the required general accounting experience.
may substitute U.S. Armed Forces military serviceexperience as a commissioned officer in the Accounting Officerclassification or Financial Management specialty codes in theAccounting field of work on a yearforyear basis for the requiredexperience and education.
LIMITATIONS ON SELECTION
This recruitment is limited to current employees withinMSDE Accounting Department Division of Financial Planning Operations & Strategyonly.
SPECIAL REQUIREMENTS
Applicants must consent to State and FBI (CJIS) background check as a routine procedure for all employees.
SELECTION PROCESS
Please make sure that you provide sufficient information on your application to show that you meet the qualifications for this recruitment. All information concerning your qualifications must be submitted by the closing date. Successful candidates will be ranked as Best Qualified Better Qualified or Qualified. The resulting list of qualified candidates will be in effect for at least one year.
EXAMINATION PROCESS
The assessment may consist of a rating of your education training and experience related to the requirements of the is important that you provide complete and accurate information on your report all experience and education that is related to this position
BENEFITS
FURTHER INSTRUCTIONS
Applications must be complete to be considered including all related job duties even if those are also listed on an attached resume. Additional required materials may be uploaded with the online application submitted to the fax number or mailed to the address listed.
If you are unable to apply online paper applications can be obtained from the link below and be faxed toor mailed to MSDE Office of Human Resources 200 W. Baltimore Street Baltimore MD 21201. If there is a supplemental questionnaire this must be completed and sent in with your paper application.Postmarks will not be accepted.
Inquiries can be made toTDD. Appropriate accommodations can be made for individuals with disabilities. If you have difficulty with your user account or have general questions about this online application system please contact the MD Department of Budget and Management Recruitment and Examination Division at. TTY Users: Call via Maryland Relay.
Proof of eligibility to work is required in compliance with the Immigration Reform and Control Act. Any misrepresentation of academic or experience requirements for this position may result in nonselection or termination of employment.
As an equal opportunity employer Maryland is committed to recruiting retaining and promoting employees who are reflective of the States diversity. Individuals with disabilities and bilingual candidates are encouraged to apply. We thank our Veterans for their service to our country. All application materials must be received in our office by the Closing Date.
Appropriate accommodations for individuals with disabilities are available upon request.
Employment Type
Full-Time
Key Skills
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