Principal Accountant

The Regional Transportation Authority (RTA), located in downtown Chicago, is currently accepting applications to fill the Principal Accountant position within the Finance, Innovation and Technology department. We are seeking a detail-oriented accounting professional to join the Controller’s Division and support the integrity, accuracy and transparency of our financial operations. This role contributes to complex accounting activities, financial reporting, and compliance with applicable accounting standards and regulatory requirements.

The Regional Transportation Authority (RTA) provides financial oversight, funding coordination, and regional transit planning for the Chicago Transit Authority (CTA), Metra, and Pace. The organization is expected to transition to the Northern Illinois Transit Authority (NITA). More information can be found here regarding the legislation.

Under the direction of the Chief Accountant & Manager, the incumbent is responsible for reviewing, analyzing, and monitoring funds and accounts related to the financial and operational performance of the Agency and Service Boards. Manage Accounts Receivable (A/R) for the RTA, generate accounting transactions, and reconcile records on the Custodial Fund, General Fund, Debt Service, Capital Project, Bond Proceeds and Transit Benefit Program.

Assist in the maintenance of the Applications Studio and run BI FSM monthly and annual reports. Prepare account analysis, journal entries, financial statements, and reports; participate in annual audits and prepare audit schedules as required; assist in preparing the Annual Comprehensive Financial Report (ACFR); prepare OMB Circular A-133 Single Audit Report as required by Government Auditing Standards; prepare Cash Investments, GASB #40 and GASB #13 schedules as required by the Government Auditing Standards;

and implement the GASB #34 government-wide financial report models and provide figures for the MD&A section of ACFR.

Responsibilities include but are not limited to:

• Provides support in maintaining the Infor Cloud Suite Financials general ledger system, including the establishment of business processes and procedure for the Controller/Treasury/RTA Receivables/Capital Project Grants Division.
• Prepares journal entries, account analysis and reconciliations, reviews financial statements and prepares reports as needed.
• Collaborate with other RTA departments to facilitate and exchange information, provides training, and supports the Controller in enhancing accounting operations.
• Ensure the alignment of accounting changes according to GASB and GAAP standards, complying with the financial reporting and accounting requirements.
• Prepare monthly reconciliations, complex journal entries, compile schedules and analyze the general ledger accounts.
• Collaborate in the generation of FS reports and assist with the IT department to fulfill project requirements concerning ad hoc reports.
• Prepare complex AR entries, including preparing, reconciling, applying cash receipts for Debt Service escrow, IDOR State Bonds, sales tax, PTF, Reduced Fare Reimbursement, accelerated tax, and preparing/applying credit/debit memos.
• Maintain the fixed assets access module in Infor. Implements new procedures for fixed assets and monitor balances/changes in the General Fixed Asset Account Group (GFAAG).
• Analyze, monitor, reconcile and record transactions for the Debt Service Funds, principal, and interest payments, accrued interest, Debt Service Deposit Agreement Deferred Revenue (DSDA) and related Trustee accounts activities. Maintain spreadsheets that calculate monthly interest, payment schedules of DSDA, monitor Debt Service operating inter-fund transfers, verify transfers and determine the accumulation of sufficient funds in Long-Term Debt Account groups.
• Reconcile Service Board funding drawdowns, bond allocations and statutory capital (Service Boards Capital Reserves), prepare related journal entries and reconcile cash and investment activity as well as inter-fund balances.
• Prepare GL transactions from the Sym Pro Investment and Bonds system for integration into Infor’s general ledger. Reconcile investment ledgers to the general…