FEC offers an excellent benefits package that includes:
•Competitive Salary
•Medical, RX, and Dental plans for employees and family
•Flexible Spending Account
•Employee Life Insurance
•401K
•RS Pension Plan
•Vacation and Sick Leave
Position Summary
The accounting manager oversees all accounting, budgeting, and financial reporting areas. This position will manage accounting principles, practices, and procedures to ensure accurate and timely financial statements. The accounting manager supervises staff and manages the team to ensure work is properly allocated and completed on time.
Specific Duties and Responsibilities
Manages staff within the cooperative’s accounting department and is responsible for its overall performance. Coordinates work activities of department employees and motivates business department personnel. Maintains overall responsibility for the development, evaluation, training and preparation of personnel for efficiency in current positions and advancement within the department. Conducts regular informational department meetings.
Maintains the cooperative's accounting and billing system to ensure compliance with Federal and State guidelines and regulations, and adherence to board-approved financial policies. Establishes, evaluates, and reviews financial procedures.
Maintains an appropriate system of accounting controls as applies to accounting software applications, internal audits, payroll, accounts payable, accounts receivable, and other functions that interrelate with the department.
Prepares and administers all lender loan applications. Supervises the maintenance of all loan fund records and requisitions funds. Supervises principal and interest payments on the due date as outlined in each loan. Communicates with Cooperative Finance Corporation (CFC), CoBank and other financial institutions concerning debt activities. Prepares or supervises the preparation of work order inventories and special equipment summaries for submission to lenders.? Understands Rural Utilities Service (RUS) accounting practices.?
Manages the preparation and reviews documents for economic development loans and coordinates loan financial transactions.
Develops the annual budget and assumptions list and prepares the 10-year financial forecast for the Cooperative.
Develops, maintains, and reports on proper cash management. Invests funds daily following accepted procedures.
Coordinates and consolidates the Cooperative-wide annual budgets and analyzes overall finances. Establishes and maintains an ongoing tracking system for expenditures and revenues and provides each department with monthly budgeted expenses compared to actual.
Verifies the completeness and accuracy of the Cooperative’s accounting and billing work. Prepares or supervises the preparation of the monthly Form 7 reports and reviews Form 7 information with management and the board at regular meetings.
Monitors and performs spot verification checks to ensure that all the Cooperative’s departments duly authorize purchases.
Reviews account receivable contracts to verify information and arrangements.
Reviews the reconciliation of the Cooperative’s bank accounts.
Verifies the accuracy of the monthly power bills to the Cooperative.
Verifies the timely update of billing software to incorporate current rates and customer contract arrangements.
Assures the accurate preparation and timely filing of all tax reports including federal and state unemployment, FICA tax, and federal Form 990's.
Oversees the preparation of all information for the Cooperative and subsidiary annual audits. Coordinates and consults with the auditor as necessary regarding the audit and accounting procedures.
Reviews and recommends property and liability insurance levels for appropriate coverage. Maintains appropriate insurance. Directs the preparation of property and liability insurance claims to ensure reimbursement of property and casualty losses.
Coordinates with the General Manager to conduct an annual compensation survey to determine compensation adjustments for Cooperative positions.
Conducts statistical analysis and makes recommendations to the General Manager concerning the fiscal status of the Cooperative.
Oversees and conducts special cost studies and financial analysis as requested by General Manager or the Cooperatives' boards.
Payroll processing on a bi-weekly basis
Coordinates with HR for employee benefits
Other duties as assigned
Required Training and Specialized Knowledge
Certified public accountant (CPA) license preferred
Required Experience
5-7 years progressive accounting experience including three in a management-level role.
1-2 years experience in analyzing business performance and developing financial plans in an electric cooperative environment.
Fayette Electric Cooperative is a not-for-profit rural electric cooperative that was established in 1937. Based in La Grange, Texas, FEC serves communities located two hours east of Houston, one hour west of Austin, and two hours southwest of San Antonio. With annual revenues nearing $40 million, FEC has more than 16,200 active meters and over 3,000 miles of energized lines. FEC's primary loads are comprised of residential services.