Subsidy Accountant
Location Trenton, NJ
Job Code 783
Apply Now (https://phh.tbe.taleo.net/phh03/ats/careers/v2/applyRequisition?org=NEWJERSH2&cws=40&rid=783)
NOTICE OF VACANCY
THE EXECUTIVE DIRECTOR OF THE NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY INVITES APPLICATIONS FROM QUALIFIED CANDIDATES FOR THE FOLLOWING:
Job Title: Subsidy Accountant
Salary Range: R9 ($54,984.58 - $77,378.47)
Division: Asset Management
FL Status: Exempt
Issue Date: 9/17/25
Closing Date: 11/3/25
Union Status: Professional Bargaining Unit, Exempt
Employment Status: Full time
JOB DESCRIPTION
Administer Section 8 Housing Assistant Payment (HAP) disbursements; process Section 8 payments; maintain Financial records, HAP expenses and Receipts Schedules; submit HUD Financial reports; interact with banks, building Managers, HUD officials, and Auditors as required; coordinate and review daily activity on preparation of various financial statements; and perform other related duties as required.
JOB RESPONSIBILITIES
Process Section 8 Housing Assistance Payments (HAP).
Maintain financial records; close monthly transactions; run appropriate reports.
Calculate Rent Increases utilizing Annual Adjustment Factors/Operating Cost Adjustment Factors. Notify owners via written correspondence of the new rent and the effective date.
Develop and maintain a Chart of HAP Anniversary Dates and HAP Contract Expiration Dates; Notify owners of the needed HAP Renewal.
Process HAP Contract renewals in accordance with HUD regulations.
Maintain a Schedule of Housing Assistance Payment (HAP) Expenses and a Schedule of Housing Assistance Payment (HAP) Receipts. Utilize aforementioned schedules to develop the Schedule of Federal Awards for purpose of the additional analysis as required by U.S. Office of Management and Budget Circular A-133, (Audits of States, Local Governments and Non-Profit Organizations).
Process various @types of HUD rent increases in accordance with HUD regulations.
Maintain a Section 8 Budget Authority Analysis for all HAP contracts. The analysis would reference the current Budget Authority balance per contract, the unliquidated balance, the current year's Annual Contribution Contract and an estimate of subsequent years Contract Authority.
Administer Section 8 disbursements, forecast subsidy appropriations and monitor HUD regulations. Control Section 8 operations, report non-compliance and rectify errors.
Review, analyze and reconcile monthly bank and investment statements.
Submit HUD financial reports within required time frames (e.g., Annual Budgets, Form HUD-52672 and Form HUD-52673; Annual Requisitions, Form HUD-52663; and Year-End Settlements, Form HUD-52681).
Interface with banks, building managers, HUD, auditors, etc.
Maintain a Housing Assistance Payment Amendment Chart to track the number of amendments a Contract has, the new Budget Authority and Contract Authority.
Update and execute amendments to the Housing Assistance Payment (HAP) and the Annual Contributions Contract (ACC).
Maintain Sub-ledgers for each contract/project that will be utilized to post HUD Receipts (HAP), Supplemental Receipts, Administrative Fees Earned, Interest Income, Voucher Disbursements and any other activity.
Maintain complete and accurate books of accounts and records as may be prescribed from time to time by HUD in connection with the PHA's administration of Housing Assistance Payments Program.
Oversee and administer Section 8 and Housing Choice Voucher disbursements, forecast subsidy appropriations and monitor HUD regulations. Control Section 8 operations, report non-compliance and rectify errors.
Review monthly HUD invoice for Performance Based Administrative Fee. 19. Process monthly Section 236 payments per established procedures. 20. Assist the Manager, Supervisor or Director as requested to complete regular work or special assignments. 21. Review and analyze operating budgets and the need for rental adjustments.
MINIMUM REQUIREMENTS
Education / Experience:
Two (2) year college degree, and five (5) years of business experience; or an equivalent combination of education and experience which provides the required knowledge, skills and abilities. Carries out routine assignments requiring the application of clear and well-established methods, practices and techniques, under supervisory instructions on objectives, limitations, priorities and deadlines, and is subject to supervisory progress checks and close review of completed work. Collects, verifies, compiles, and summarizes data or information, processes routine actions, and assists higher-level positions in more complex activities.
Skills:
Knowledge of accounting principles.
Knowledge of HUD Regulations and practices.
Proficiency in Microsoft Office environment.
Ability to prepare financial statements. - Ability to establish and maintain effective working relationships.
Ability to communicate effectively, orally, in writing and to listen actively.
Ability to enter and retrieve computer data. - Ability to analyze financial statements and draw appropriate conclusions.
Ability to review and analyze HUD Annual Contribution Contracts.
Ability to organize and accomplish multiple assignments simultaneously.
Ability to maintain a positive work atmosphere in an appropriate manner of behavior which ensures cooperation and effective communication with banks, public officials, management personnel, HUD officials and Auditors.
Physical Demands: Non-physical
Working Conditions: General office environment. Some travel is required to attend meetings away from the office.
Certificates & Licenses Required: A valid driver's license in the state in which the person resides is required only if the operation of a vehicle, rather than employee mobility, is necessary to perform the essential duties of the position.
BENEFITS
NJHMFA provides a comprehensive benefit package which includes:
Medical, prescription, dental, vision & long term disability
FSA & HSA
Public Service Loan Forgiveness and Tuition Reimbursement
Public Employees' Retirement System (PERS)
Deferred compensation plans
Employee assistance services (EAS)
State employee discounts program
Paid personal, sick and vacation days
Paid holidays
Partial Telework
Residency in the State of New Jersey is required of all employees with an agency of the State in accordance with the New Jersey First Act, N.J.S.A. 52:14-7 (L. 2011, Chapter 70). Employees must comply with the "New Jersey First Act" which requires employees hired after September 1, 2011 to reside in New Jersey. Non-New Jersey resident employees must relocate to New Jersey within one year of their date of hire and provide proof of residency to Human Resources.
The NJHMFA is an Equal Opportunity Employer in compliance with all Federal, State and Local Regulations. NJHMFA provides equal employment opportunity to both individuals with veteran status and individuals with disabilities.
Must complete an Outside Activity Questionnaire (disclosure of outside office or employment) on an annual basis.
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