Manager, Capital Accounting

3 weeks ago

Toronto, Canada Toronto Transit Commission Full time

**JOB INFORMATION**

**Requisition ID**: 8578
**Number of Vacancies**: 1
**Department**: Finance (20000042) - Capital Accounting (30000074)
**Salary Information**:
**$114,168.60**
- **$142,669.80**

**Pay Scale Group**: 11SA
**Employment Type**: Regular
**Weekly Hours**: 35,
**Off Days**: Saturday/Sunday
**Shift**: Day
**Posted On**: November 22, 2023
**Last Day to Apply**: December 1, 2023
**Reports to**:Director, Financial Reporting & Systems

The Toronto Transit Commission (TTC) is North America's third largest transit system and has been recognized as one of the top places to work in the GTA. Guided by a forward-thinking strategic plan, the TTC's vision is to be a transit system that makes Toronto proud. The TTC's recruitment efforts are directly aligned to its mission of providing "a reliable, efficient, and integrated bus, streetcar and subway system that draws its high standards of customer care from our rich traditions of safety, service and courtesy."

**General Accountability**:

- The Manager, Capital Accounting is responsible for managing the capital asset and capital project accounting for the TTC and provides corporate oversight and guidance on the appropriate charging of capital project costs to the relevant projects and accounts; develops and maintains practices and processes to report on TTC’s record of subsidized and non-subsidized capital assets, including capital asset creation, depreciation and disposal; and ensures all indirect and overhead costs are allocated to TTC capital projects in an accurate and timely manner.- To ensure that TTC capital projects adhere to current accounting standards and guidance issued by Public Sector Accounting Board, the Manager leads a team in analyzing complex transactions, contracts and events and advising Business Partners on appropriate accounting treatment.- The Manager plays an important role in analyzing new or changing accounting standards as they are pronounced, determining their impact to TTC’s financial and project results and reporting, and ensuring compliance. This includes supporting the implementation of TTC’s Enterprise Asset Management program and the Asset Retirement Obligation (“ARO”) Standard (PS 3280).- The Manager is also responsible for ensuring the accurate and timely preparation of supporting financial statements, subsidy billings, third party billings (as required), and reports for senior management, the Commission and/or funding partners. Supports external audits and year-end close processes as re**Key Job Functions**:
**Capital Project Accounting & Reporting**
- Using professional judgement to research and analyze complex transactions, contracts and events to ensure compliance to the Public Sector Accounting Standards, recommends an accounting position, and advise Business Partners accordingly
- Managing staff responsible for maintenance of internal orders and City of Toronto subsidy billings
- Ensuring third-party costs are recovered by supporting information gathering, arranging billing and maximizing third-party cost recovery and billing opportunities
- Reviewing labour and material transfers between Operating and Capital as needed
- Ensuring project reports and financial statements for capital project is reviewed and monitored to ensure unusual items are recorded appropriately and expenditures/billings are within established authorities and approvals
- Working with internal stakeholders to monitor conditions and stipulations within third-party funding agreements, and ensuring potential liabilities are identified, evaluated and accounted for
- Working with other Finance staff to ensure that appropriate capital billings, contributions, donations and grants are obtained to support planned capital and other special expenditures
- Advising on and/or implementing policies, procedures, training and controls to maintain consistency in the use of cost elements, cost centres, work breakdown structures, internal orders, etc.

**Capital Indirect and Overhead Charges**
- Managing the annual indirect and overhead cost allocation configuration process, including working with internal stakeholders to validate indirect and overhead costs to be allocated to each capital project, and working with IT Services to test and implement the cost allocation configuration

**Capital Asset Creation, Depreciation & Disposal**
- Working with Business Partners to review projects nearing completion for capitalization and closure as appropriate, and ensuring the new capital assets are created in an accurate and timely manner in the appropriate accounting / financial reporting systems
- Managing staff responsible for the maintenance and control of records and transactions related to capital assets including the calculation of depreciation schedules, recording of depreciation expenses and the recording of gains and losses incurred on the disposal of capital assets
- Managing the capital asset accounting procedures & controls and updating as required

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