Under administrative direction, manages the community s budget and financial operations. Manages the forecasting, analysis, and reconciliation of the annual budget process for assigned community(s). Distributes and communicates corporate templates and information requests from corporate to department heads, and meets to obtain and discuss budget proposals for the coming year. Applies financial models, evaluates forecasted numbers, and obtains explanations and justifications from department heads relating to significant increases and decreases from previous periods. Partners with department heads to scrutinize planning based upon prior activity, occupancy levels, financial models, etc. Conducts cost/benefit analysis for proposed spending. Incorporates corporate NOI expectations into budget planning. Identifies and discusses potential enhancements and obstacles in meeting expected numbers. Meets with Executive Director (ED) to discuss and resolve budget issues concerning departments forecasting and planned spending. Presents issues and organizes meetings with ED and department heads to formulate analysis and confirm facts. Critically reviews capital expense requests (CER). Discusses justifications and priorities with department heads and Executive Director. Follows corporate purchasing guidelines and tracks approved capital spending. Finalizes numbers with ED and prepares Power Point presentation for Business Plan Review with guidance from ED. Provides justifications and effectively communicates needs. Communicates finalized budget numbers to department heads and educates regarding meaning. Monitors budget expenses throughout the year. Routinely distributes reports and meets with Department heads to discuss financial performance and ensure integrity of data. Reconciles plan variances. Provides solutions and suggests corrective financial and operational action to department heads and ED. Alerts ED regarding anticipated difficulties in meeting NOI targets. Obtains ED s directives regarding budget and operational changes and incorporates into budget. Prepares and supervises the preparation of routine and specially requested statistical and financial reports and analysis for review by ED. Identifies and presents trend lines and projections relating to income and expenses. Reconciles accounts and interprets results. Submits monthly and quarterly food service, central supply, housekeeping inventory reports to corporate office. Routinely monitors inventories of supplies. Conducts cost/benefit analysis for current and proposed resources. Analyzes buy versus lease decisions equipment. Audits cash handling and purchasing/bid processes to ensure compliance, to assess credibility of vendors, and to conduct proper analysis of bids. Supervises Business Office staff and operations in the processing of payroll, invoices and receipt of payments from residents. Ensures that corporate policies and procedures relating to cash, accounting, collections, purchasing, budget and payroll are followed to maintain SOX compliance. Proactively manages DSO rates and follows collection procedures to obtain payments and reduce DSO. Reconciles resident accounts and informs ED regarding residents behind in fee payments. Reviews aging of accounts receivables and recommends bad debt write-offs. Prepares and posts notifications to residents regarding rate increases as approved by corporate office. Routinely posts and calculates interest payments for resident s security deposits. Requests security deposit refunds for departing residents. Reviews other credits for residents and approves refunds as appropriate. Upon request, may provide financial information relating to expansion and renovations in community. Assists with financial studies and projections as it may relate to the profitability of expanded services. May assist ED regarding coordination of construction phases with operational requirements. This job description represents an overview of the responsibilities for the above referenced position. It is not intended to represent a comprehensive list of responsibilities. An associate should perform all duties as assigned by his/her supervisor.
Associated topics: chief investment officer, controller, finance director, financial director, manage, president, president finance, recruit, staff, vice president