JOB DESCRIPTION

CHIEF FINANCE OFFICER

Salary: Administrator VI

Reports to: Superintendent

FLSA Status: Exempt

Supervises: Finance Staff

Work Week Schedule: Monday – Friday; must be available some nights and weekends

Work Hours: 40

Months per year: 12

EDUCATION, TRAINING, AND EXPERIENCE

Experience in NC Public School Finance preferred.

Have comprehensive accounting knowledge, including the ability to interpret and implement new accounting standards, per GASB.

After June 30, 2023, the minimum qualifications of candidates for finance officer are five years of professional experience in finance operations combined with one of the following:

• A baccalaureate degree from an accredited four-year college or university with a minimum of 15 semester hours in accounting, or
• a licensed Certified Public Accountant, or
• certified by the State Board of Education as an LEA school finance officer prior to July 1, 2023

CONTINUING PROFESSIONAL EDUCATION (CPE)

• All certified finance officers must complete 24 contact hours of approved CPE credits during each fiscal year.
• Any CPE hours earned in excess of the 24-hour requirement (up to a maximum of 24 hours) may be carried forward only to the next fiscal year.
• It is the responsibility of the finance officer to complete 24 hours of approved CPE within each fiscal year.

DUTIES and RESPONSIBILITIES:

• The LEA Finance Officer is responsible for all fiscal affairs of the school system, including the State, federal and local funds, the enterprise funds, and capital operations.
• The finance officer shall install and maintain an integrated system to plan fiscal operations to ensure sound decisions, accountability and transparency.
• This legislatively required position, per G.S.115C-435, must be able to interpret and follow fiscal regulations prescribed by the North Carolina General Statutes, State Board of Education, federal agencies, the Local Government Commission, and other funding entities

ESSENTIAL JOB FUNCTIONS

• Provides district leadership for the Local Board of Education, building-level administrators and others with appropriate guidance, policies and procedures related to financial matters.
• Prepares and maintains the school district annual budget; analyzes and costs the local boards and local superintendent’s initiatives and ensures appropriate and allowable funding sources.
• Manages all activity for a balanced budget that is in compliance with the School Budget and Fiscal Control Act.
• Analyzes various financial, personnel and student data and records for leadership decision-making. These analyses are used in preparation of reports as required for submission to local, state, federal oversight agencies and/or superintendent and board.
• Maintains a payroll system in compliance with state and federal laws and regulations, including the Fair Labor Standards Act and the Internal Revenue Service Code, as well as procedures related to salary and absence data required by the State Board of Education.
• Oversight of the school system purchasing and contract procedures to ensure compliance with local, state and federal policies.
• Ensures compliance with the Federal funding expenditures to ensure compliance of federal regulations including Uniform Grant Guidance and specific grant requirements.
• Maintains the general ledger system, including adjusting journal entries, budget adjustments, chart of account maintenance, and reconciliation of general ledger accounts to ensure accurate account balances and adherence to generally accepted accounting principles (GAAP).
• Utilizes a complex chart of accounts and recognizes and researches appropriateness of accounts codes on payroll expenditures, payroll collections, and non-salary expenditures and determines required steps for resolution.
• Responsible for the year-end financial statements for the annual independent audit and the school system’s Annual Comprehensive Financial Report (ACFR).
• Provides auditors (independent, state, and/or federal) all required reconciliations and other client-prepared materials.
• Maintains all system-wide bank accounts and ensures timely and accurate reconciliation of all bank and balance sheet accounts.
• Ensures the quality of fiscal operations at the individual schools, through periodic audit reviews of fiscal records and ensures corrective action is taken as necessary
• Performs other duties as assigned by the Superintendent

WORKING CONDITIONS

Physical Demands - Light physical work required occasionally up to 20 pounds of lifting

Work Environment - Inside with occasional outside environments; direct contact with staff.

The following signatures acknowledge that the supervisors have verified the accuracy of this position description and job duties and have discussed requirements with the employee. In addition, the supervisor has informed the employee of work performance expectations.

Administrator/Supervisor ______________________________ Date _____________

Employee Print ______________________________

Signature _______________________________________ Date _______________