2F33
PAY RANGE: EP20
UTILITY FINANCIAL ANALYST
GENERAL DEFINITION
This is financial work compiling, analyzing, evaluating and interpreting financial, statistical and engineering data in relation to the operation, maintenance and administration of water, wastewater and stormwater systems. Employees in this class develop and prepare utility long range forecasts, revenue estimates, expenditure trends, economic forecasts, computer financial models and other complex financial and statistical analysis. A significant aspect of the work is conferring with departmental personnel, consultants and government officials to discuss utility budgets, rates and legislation. Work is performed under supervision of a Utility Financial Services Supervisor.
ALLOCATING FACTORS: (The following condition must be met for a position to be allocated to this class.)
1. Positions in this class must perform financial work compiling, analyzing, evaluating and interpreting financial, statistical and engineering data in relation to the operation, maintenance and administration of water, wastewater and stormwater systems.
2. Positions must perform the work within the Water Department.
TYPICAL EXAMPLES OF WORK (ILLUSTRATIVE ONLY)
All Assignments
Prepares requests for legislative appropriation transfers and supplemental appropriations; reviews. Interprets, and evaluates financial transactions and documents for compliance with agreements, industry practices, and contracts.
Assumes the role of primary contact for a group of whole-sale contract customers; provides two-way communication and liaison activities between various divisions within the Department and whole-sale customer; requires interpreting the Department’s or City’s technical, policy or administrative procedures that affect the whole-sale customer’s bills and contracts.
Reviews and evaluates contracts for compliance with department policies and procedures related to specific programs; reviews and analyzes historical contracts; reviews contracts used by other departments that are paid by the Water Fund; participates in the development and implementation of program budgets; tracks and makes financial projections for program budgets.
Maintains records and prepares a variety of financial reports and correspondence related to the work; conducts analyses in such areas as program goals, objectives, and operations.
Statistically analyzes utility financial statements to determine liquidity, earnings, earnings potential and overall financial strength; analyzes the financial impact of departmental programs.
Meets with departmental personnel and reviews budget requests for accuracy and conformance to program direction, recommends and justifies appropriate resource allocations; evaluates the operational efficiency of requested budget items or programs; summarizes data or other non-quantifiable information, setting forth current and long-term economic or business trends pertinent to the status of programs; monitors expenditures and encumbrances to identify potential overdrafts and surpluses; reviews open encumbrances and balances for conformance to budget guidelines.
Evaluates legislative bills for their program and fiscal implications and recommends disposition; interprets federal and state regulations to develop policy related to fiscal issues, such as cost reporting and reimbursement of activity and costs eligible for federal financial reimbursement; researches financial periodicals, stock and bond reports, and other investment material to obtain accounting information, economic trends, and other financial data.
Researches, compiles, and prepares data for financial studies and rate determinations; creates long range plans; interprets financial data and statistical analyses.
Performs related work as required.
Financial Planning and Analysis Assignment
Evaluates and interprets information relating to yearly fringe benefits and overtime reporting information; performs quality assurance check of all revenue reporting and analysis of receivable trends; compiles interfund transfer data and tracks yearly trends.
Monitors budget to actual trends to support funding and fiscal accountability. Manage the collection of operational statistics; manages special projects to support effective and innovative business practices and services; analyzes assigned capital projects or initiatives and develop programmatic options and recommendations.
Assists in calculating key financial metrics of the Department and the Department’s peers in a database; uses financial planning models to determine debt issuance patterns, trends and capital improvement planning scenarios; assists on issuance preparation work and closing procedures; meets with Departmental personnel, consultants and government officials to discuss financial trends and impacts of legislation.
Complies information for the completion of department wide surveys and performance goal reporting; complies and reviews emergency cost for the department; assists in determining project viability.
Financial Compliance and Oversight Assignment
Performs analytical review of significant ratios and trends for unusual changes and questionable items; reading important documents and analyzing their accounting and financial effects; reviewing the activity in an account between interim and year-end, and noting entries out of the ordinary; comparing current period account balances to prior periods as well as to budgeted amounts, noting reasonableness of account balances by evaluating logical relationships.
Assists in contract compliance audit services, which includes, but is not limited to, verification that the projects completed were done in accordance with applicable policies, procedures, rules, regulations and statutes; works with the city of Philadelphia’s controller’s office to complete yearly audits of the department, perform internal control audits, which includes, but is not limited to, verification of payroll and procurement; assists in the preparation of financial statements.
Reviews, develops and modifies internal accounting control policies, procedures and practices.
General Accounting - Fixed Assets Assignment
Evaluates, analyzes, and compiles transactional data and costs related to the acquisition of new personal property assets and analyzes compiled data for capital projects and current infrastructure; assists in the monitoring of the status of existing fixed assets and projects and assists in compiling and preparing equipment and fixed asset schedules for the completion of Fund Financial Statements and the related compilation binder.
Assists in the monitoring and the periodic physical counting of the Department’s personal property inventory to ensure compliance with the City of Philadelphia’s policies and procedures.
Rates Assignment
Meets with departmental officers, consultants and government agencies to provide technical assistance in the preparation of reports on utility rates and legislation changes; attends hearings as technical advisor to assist departmental officials in presenting justifications on rate revisions before an independent hearing examiner.
Compiles and analyzes financial and operational data for purpose of determining rates; prepares wholesale billings and analyzes wholesale customer data; prepares various ad hoc reports involving operational data; makes projections of natural gas and electricity costs, chemical costs projections; develops consumer price index measurements; analyzes billing and collection statistics; develops cost estimates for water production; develops and maintain a computer database of operational and financial data.
KNOWLEDGE OF:
· professional accounting principle, practices, and methods in accordance with Generally Accepted Accounting Principles (GAAP), Governmental Accounting Standards Board (GASB) and Financial Accounting Standards Boards (FASB)
· applicable federal, state, and city laws, rules, and regulations
· accounting and financial systems
· the application of economic, mathematical, and statistical analysis to the establishment of utility’s key financial metrics and budget trends analysis
· statistical procedures and their application to the development of utility rate structures
· the use of personal computer applications in solving rate related issues and financial planning scenarios
ABILITY TO:
· analyze financial information to facilitate decision-making by finance and operations analyze personnel and present data analysis and interpretation in clear, compelling ways.
· analyze and resolve budgetary problems and make sound recommendations consistent with budgetary principles and departmental policies.
· understand business operations and their impact on budgetary and financial models.
· participate in analytical studies pertinent to the fixing and regulating of utility rates if required by assignment
· assemble, analyze, interpret, and evaluate statistical data
· prepare, edit, and interpret fiscal, technical, analytical and statistical reports and statements
· perform internal audits and assist the city’s controller in the department’s yearly audit
· present ideas effectively both orally and in writing
· establish and maintain effective working relationships with associates
MINIMUM ACCEPTABLE TRAINING AND EXPERIENCE (The following statement represents the minimum training and experience standards which will be used to admit or reject applicants for tests. Applications submitted by candidates for this class will be reviewed based on training and experience requirements as approved on 12/17.)
EDUCATION:
Completion of a bachelor's degree program at an accredited college or university with major course work in statistics, business administration, accounting, mathematics, engineering, finance, or economics.
AND
EXPERIENCE:
Three years of experience conducting general statistical analysis and research for costing and pricing purposes for a large commercial, industrial or service organization.
OR
Two years of full performance level technical experience in:
· accounting or budgeting
· auditing
· economic, operational or financial analysis
OR
Any equivalent combination of education and experience determined to be acceptable by the Office of Human Resources, which has included a bachelor's degree as an educational minimum.
NOTE: Completion of a master's degree program at an accredited college or university with major course work in statistics, business administration, accounting, economics, engineering, mathematics, or finance may substitute for one year of the required experience.
PHYSICAL AND MEDICAL REQUIREMENTS
Ability to physically perform the duties and to work in the environmental conditions required of a position in this class.
Class Established -10/76
Spec. Revision:
CSC - 08/02
Ad. Board - 09/02
Spec. Revision:
CSC – 10/14
Ad. Board – 11/14
Spec. Revision:
CSC – 11/17
Ad. Board – 12/17
Latest Spec. Revision:
CSC – 1/23
Ad. Board – 2/23
CP