Financial Specialist II: Office of Budget and Finance - UTK

Reporting to the Director of Accounting and Financial Compliance, the Financial Specialist II serves as a campus cost-accounting and compliance resource with an emphasis on higher education rate proposal support, restricted/state-funded program accounting, clearing and match funding reconciliations, and year-end close readiness. The position supports the Facilities Space Survey and contributes to development of the campus Facilities & Administrative (F&A) Rate Proposal by analyzing and classifying expenditures in accordance with applicable cost principles.

This role also establishes and maintains funds and accounts and supports accurate financial reporting and compliance with GAAP, GASB, OMB Uniform Guidance (2 CFR 200), UT fiscal policies, and relevant NACUBO guidance.

• Cost accounting and rate proposal support (F&A): Support preparation of the F&A rate proposal through analysis, reconciliation, and classification of research expenditures across functions and cost pools; assist with documentation needed for internal review and external audit/negotiation support.
• Facilities Space Survey support: Assist with the annual space survey (verification and coordination for 22,000+ rooms), including validation, documentation, and support to departments to improve accuracy and audit readiness.
• Restricted and unique state funding programs: Provide accounting oversight for restricted state appropriations and related research programs which may involve complex funding structures and shared appointments.
• Fund and account establishment / stewardship: Establish new funds and related accounting structure for complex programs; approve budgets, monitor expenditures, support allowable budget redistributions, and provide reporting to stakeholders.
• Clearing and matching fund reconciliations: Monitor and support reconciliation of sponsored project matching clearing fund, including training and coordination with departments to prepare entries needed to clear balances after each month end close; ensure compliance with the requirement that the fund is zero by fiscal year-end.
• Joint Faculty Program support: Support departments participating in a national laboratory Joint Faculty research program, including fringe rate updates, invoice issue resolution, and monitoring unpaid items; complete the annual independent financial statement audit procedures for non-sponsored outstanding invoices, as assigned.
• System internal grant funding support: Provide central financial support for System Administration internal funding programs, including budget updates/extensions, year-end funding requests, and distribution support to College Reserve funds.
• Financial compliance and year-end close: Coordinate and/or perform year-end activities for assigned programs and funds, including:
  • reviewing budgets and expenditures for allowability and compliance;
  • processing corrections and budget updates;
  • monitoring and resolving non-sponsored deficits;
  • processing funding entries to align revenues and expenditures;
  • coordinating advances for continuation funds, as needed; and
  • recording receivable/payable entries for assigned programs.