South River Electric Membership Corporation-Job Descriptions

Finance and Accounting

POSITION TITLE: Plant Accountant

REPORTS TO: Director of Financial Accounting

1-OBJECTIVES

(a)To provide effective customer service ona day-to-day basis. To provide efficient, accurate and courteous service that will increase satisfaction and promote good will between the Cooperative and its members.

(b)To ensure realistic representation of the cooperative financial position by accounting for all direct and indirect costs added to and retired from the utility plant records to accurately reflect the values for capitalization and taxation, and for requesting loan funds from CFC.

(c)To account for all material, labor, equipment cost, and contract services utilized by the cooperative for construction / retirement to the electric plant in order to accurately reflect the electric system’s value for capitalization and taxation.

(d)To maintain electric plant records of equipment in the system and their locations;

(e)To make financial reports to regulatory organizations, financial auditors and related accounting entities;

(f)To maintain records of the various classifications of work performed by operations and engineering personnel in order to aid management decision making and assign legitimate quantities of overhead to capitalized plant.

2-RESPONSIBILITIES AND DUTIES

Below is a list of typical duties for which thePlant Accountantwill be accountable/responsible. This list is not intended to include all responsibilitiesof this position but an outline of tasks indicative of the overall function of this job. Responsibilities/duties ofthe Plant Accountantinclude, but are not limited to:

(a)Reconciling of staking sheets which includes, but is not limited to:

 Verification of units issued out of inventory vs. material used;

 Verifying accuracy of staking sheets;

 Verify all work order information is posted accurately in the financial system (ATS).

(b)Maintaining and processing information and reports as required including, but not limited to:

  • Set up special project work orders as requested
  • Maintain a special project work order header log and the daily work order header log.
  • Assist with estimating job costs for CIAC when requested by engineering
  • Verification of contractor invoices prior to payment

(c)Preparing, reviewing, and/or updatingand processingaccurate and consistentutility plant information and/or documentationrelated to month end closing, including, but not limited to:

  • Monitor open projects and determine when to close;
  • Review of open work order error lists and make necessary corrections prior to closing;
  • Reconcile large contract projects for accuracy prior to closing
  • Flag work orders to be closed in ATS finance accounting system
  • Prepare work plan budget vs. actual spreadsheet for comparison
  • Balance all work order and inventory accounts with general ledger
  • Preparation of audit papers for year-end audit
  • Update Substation subsidiary records as substation projects are closed to plant

(d)Preparing, reviewing, and/or maintaining proper paperwork and/or documentation for processing and balancing with the Director of Financial Accounting and/or accounts payable including, but not limited to:

Miscellaneous billing
Contribution in Aid of Construction (CIAC)
Material sales
Strikeguard sales

(e)Obtaining and/or reviewing and processing documentation required for miscellaneous billing which includes, but is not limited to:

 Contacting insurance companies or businesses

 Obtaining invoices from contractors

 Calculating bills for mailing

(f)Assisting, communicating, and/or coordinating with Engineering and Operations on various projects, including but not limited to:

 Updating mapping for property tax reporting

 Update of construction assembly units

 Maintaining acceptable standard cost on an annual basis

(g)Assistingwith maintenance/preparation of various processes/spreadsheets; including, but not limited to:

  • Monthly posting and closing of subsidiary companies of SREMC
  • Annual property tax return preparation
  • Assist with physical inventory counts and completing inventory adjustments
  • Maintain a 12 month overhead average rate spreadsheet
  • Perform an annual analysis of scrap wire retired from plant vs. scrapwire sold and report variances to management
  • Assist with archiving accounting records to meet document retention requirements
  • Assist with special projects as requested by management such as rate study, annual budget, or financial forecasts
  • Assist with FEMA claims as needed in the event of a natural disaster

(h)Supporting departmental operations/goals and contributing to improved cost, quality, productivity and/or a competitive position for the cooperative;

(i)Completing annual personal goals assigned by management;

(j)Participating and assisting with the Cooperative’s Annual Meeting as needed;

(k)Reportingproblems and conditions/situations; which warrant immediate resolution; promptly to management;

(l)Attending scheduled meetings;

(m)Ensuring the quality and accuracy of information provided to auditors and financial consultants within assigned area of responsibility;

(n)Personal productivity and adherence to schedules and deadlines for assigned work;

(o)Providing assistance to other departments as needed and helping maintain good company morale;

(p)The ability to file, maintain records and uphold confidentiality and security;

(q)Keeping assigned work area clean, neat and organized at all times;

(r)Understanding and personally performing all duties in accordance with applicable safety and Cooperative policy manuals, as well as report to Supervisor hazardous conditions and needed maintenance in the office;

(s)Performance of related duties as assigned or necessary.

3-RELATIONSHIPS and CONTACTS

Provides and acquires information and assistance necessary to assure theachievement of goals by the department and the cooperative. Establishes andmaintains including, but not limited to the following contacts and relationshipsfor thepurpose of coordination and communication:

(a)Internal

 VP of Finance and Accounting

 Director of Financial Accounting

 Provides and acquires information and assistance necessary to assurethe achievement of goals by the department and the cooperative

(b)External

  • Make outside contacts to satisfactorily carry out the responsibilities ofthis position

4-EDUCATION

Associate degree in accounting or related field required. Bachelor’s degree inAccounting or related field preferred. If a Bachelor’s Degree in Accounting or a related field has not been obtained when selected for the position, the Cooperative requires that the Plant Accountant obtain a B.A. / B.S. Degree in Accounting or a related field from an accredited college or university within 4 years of accepting the position. South River EMC may consider related work experience in lieuof educational requirements if thereis demonstrated ability to carry out the responsibilities of the position.

5-EXPERIENCE

Previous cost accounting and utility accounting experience is preferred; prior inventory experience helpful. Also, it is helpful to have progressive experience with a utility and a thoroughunderstanding of a utility,specifically a cooperative.

6-JOB KNOWLEDGE

Knowledge of RUS accounting requirements, Generally Accepted Accounting Principles, and familiarity with the RUS Bulletins 1767B-1 and 1767B-2. Completion of Work Order Accounting Course preferred. Knowledge of service area is desirable. Experience with personal computer required. Must have full knowledge of the Cooperative’s programs, processes, rules and regulations needed to effectively perform this job.

ABILITIES AND SKILLS

Must have a positive attitude and be a team player. Must be able to maintain complete confidentiality in the performance of duties and responsibilities of the job. Must have good written and oral communication skills, good decision making skills, good mathematical skills, and multitaskingskills.Must be self-motivated with a strong work ethic and an ability to adapt easily to change. Should be able to communicate information over the phone. Must have considerable skill in effectively dealing with a variety of people under different and sometimes difficult circumstances. Must be proficient in Microsoft Office, have basic computer skills, and should be familiar with other general office equipment. Must be able to organize and carry out delegated work and handwriting must be neat and legible.

7-PHYSICAL REQUIREMENTS

Required to pass a physical examination and drug test when employed. Must have the physical ability to perform the essential functions, duties andresponsibilities of the job, which include, but are not limited to: seeing, hearing,walking, sitting, bending,lifting and/or carrying loads averaging 20 pounds.

8-WORK CONDITIONS

Normal office conditions. Must be available for callouts during emergency situations. Must be available for scheduled after hours training.

REMARKS

The Cooperative has reviewed this job description to ensure that essential functions and basic duties have been included. It is intended to provide guidelines for job expectations and the employee's ability to perform the position described. It is not intended to be construed as an exhaustive list of all functions, responsibilities, skills and abilities. In order to ensure maximum flexibility and efficiency and encourage cross training additional functions and requirements may be assigned by a supervisor/manager as deemed appropriate. This document does not represent a contract of employment, and the Cooperative reserves the right to change this job description and/or assign tasks for the employee to perform, as the Cooperative may deem appropriate.

Approval Signature: ______Date: ______

Employee Signature: ______Date: ______

Revised: May 30, 2013

Revised: June 16, 2016

1