Project Accountant

at  Infrastructure Ontario

IO’s Finance, Technology, and Lending Enterprise Team ensures that IO is a financially efficient and effectively managed organization and that the agency’s finances are monitored, reported, and managed appropriately.

JOB PURPOSE:

Reporting to the Manager, Accounting, the Project Accountant is responsible for project analysis, financial analysis, accounting, forecasting, budgeting and financial management of the General Real Estate Portfolio (GREP) Construction Projects.

WHAT YOU WILL DO:

• Prepare financial reporting and analysis of GREP construction projects for Infrastructure Ontario’s GREP finance group, project managers, client ministries and Provincial central agencies, including:
• Review the project charter and relevant project documentation to identify capitalization requirement based on the capitalization policy.
• Ensure compliance with Project contractual terms and conditions in relation to project setup, billing requirements and costing
• Monthly analysis of the Project’s value of work to budget and cost ensuring reasonability and following up as applicable
• Prepare monthly accounting entries and accruals for expenses and revenue by project
• Review project recoveries for accuracy, completeness, and compliance
• Ensure adherence to professional accounting standards, including capitalization and revenue recognition and accruals
• Participate in collecting the deliverables for project controls audit requirements
• Support the reconciliation and analysis of key balance sheet items and resolution of issues, including WIP, AR, AP and holdbacks
• Prepare reports and variance analysis of constructions projects for the Project Managers, Ministry clients, and financial reports including the quarterly financial statements.
• Prepare monthly reporting on project costs by funding sources, nature and type of project.
• Ensure the integrity of project data in the financial and project management systems.
• Generate reports from accounting and project management systems as required to support financial reporting, analysis, budgeting and forecasting.
• Participate in system analysis and identify opportunities for business improvement.
• Responsible for compliance with documented accounting processes and is actively involved in implementing improvements and revising documentation accordingly