Project Funding Analyst
Date Posted: Jul 6, 2026
Requisition ID: 480275
Location:
Indianapolis, IN, US, 46204
Work for Indiana
Begin a fulfilling career with the State of Indiana by joining one of the largest employers in the state, offering a range of opportunities across 60+ agencies. At the state, you'll find competitive compensation, a robust benefits package and a commitment to work-life balance. Most importantly, you'll have the chance to make a real and measurable impact on the lives of Hoosiers across Indiana.
About the Indiana Department of Transportation:
The Indiana Department of Transportation (INDOT) provides a dynamic workplace that serves Indiana citizens, improves our state's quality of life, and enhances its economic opportunity. INDOT has a number of innovative programs and projects, including Public-Private Partnerships, Green Initiatives, and cutting-edge uses of materials and assets. As part of the State of Indiana, INDOT offers a competitive total compensation package, as well as outstanding work/life balance. Whether you are an established professional in the transportation field or just starting your career, INDOT has exciting and challenging opportunities for you.
Role Overview:
This position serves as a Project Finance Specialist for the Indiana Department of Transportation (INDOT) in the Project Finance Division and is responsible for maintaining the integrity of a system of apportionments, i.e., allocation of federal funds over $1 Billion annually for state and local projects/activities, along with over $3 Billion in state funding spanning over multiyear funding set ups by Congress and the State. Federal funds are apportioned to the States based on a formula while state funds are identified through legislative efforts through fuel taxes and other sources relevant to highway system use. Employee is responsible for developing and maintaining processes concerning individual federal, state, and local program budgets including the determination of priorities to ensure maximum efficiency of the utilization of federal funds specific to a project and projects in prior and current transportation Acts including clarification of directives and guidelines.
This position reports directly to the Project Funding Supervisor.
Essential Duties/Responsibilities:
Defines and identifies federal funding allocations to be applied to eligible state and local federal aid projects;
Defines and applies state and local funding allocations based upon project classification;
Ensures all projects are reviewed for federal eligibility and applies federal funds based upon prescribed percentages;
Create and run large scale reports from PeopleSoft/Encompass and from the Federal Management Information System (FMIS);
Performs fiscal analysis on funding requests and related material for compliance with established guidelines;
Verifies and makes appropriate adjustments for weekly federal reimbursement requests to the Federal Highway Administration; reimbursements typically range from $5M to $75M.
Regular and frequent consultation with Project Finance staff with regard to operational matters and business practices to ensure financial practices are in compliance with state and federal policies and procedures to support the agency's capital program
Ensures federal program eligibility when identifying federal participation and subsequent reimbursement;
Follow and ensure adherence to internal financial controls and reporting that promote consistent processes and procedures in Project Finance;
Performs related duties as assigned
Location:
This position is with INDOT's Central Office.
Salary:
The salary for this position traditionally starts at $53,222.00 but may be commensurate with education and work experience. Use our Compensation Calculator (https://in.accessgov.com/spd/Forms/Page/spd/compensation-calculator/0) to view the total compensation package.
A Day in the Life:
The essential functions of this role are as follows:
Understanding INDOT's capital program and knowing how the application of federal, state, and local funding changes depending on asset @types and work being performed.
Ability to manage restrictive funding and knowing the application when projects qualify for multiple @types of federal funding.
Ability to review upcoming constrution lettings and ensuring STIP (State Transportation Improvement Program) and NEPA (National Environmental Policy Act) requirements are being followed.
Ability to review Daily Budget Status report to ensure project requests are within programmed amounts.
Respond to request to resolve issues such as correcting incorrect payments to locals, fixing funding splits between what should be federal and what should be state/local, and making sure all necessary and accurate information is entered into all systems.
Coordinate with the Federal Highway Administration (FHWA) on signing fund requests that are past the typical five business days timeframe.
Field questions and respond to information requests from internal customers as well as other state agencies regarding assigned fund requests.
Ability to navigate the different functions within INDOT's CAPWise system with little to no supervision.
The job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Other duties, responsibilities and activities may change or be assigned at any time with or without notice.
This position is exempt from overtime compensation for additional work hours which may be required to complete essential functions or other assigned work. Exempt employees may work more than 75 hours in a pay period without additional compensation and must report a minimum of 75 hours per pay period of work hours and/or paid leave taken to receive their base biweekly salary.
What You'll Need for Success:
Individuals in this role should minimally be able to articulate or demonstrate the following:
Demonstrated ability to quickly understand complex agency financial systems including; PeopleSoft, the Scheduling Project Management System, the Federal Highway System, and Capital Program Funding System (CAPWise);
Must be able to understand and comprehend the many aspects of projects from implementation to closing;
Ability to communicate on various levels with federal, state, counties, and cities to disseminate information and explain programs and policies;
Maintain knowledge of Metropolitan Planning Organizations and Local federal aid polices; and ability to understand and apply said policies;
Intermediate Microsoft Excel skills;
Must be able to work in a fast-paced environment with demonstrated ability to juggle multiple competing tasks;
Ability to suggest, prepare detailed process analysis and communicate with technical leads in creating and developing new systems and processes;
Ability to work independently, anticipate problems and initiate corrective actions;
Ability to maintain confidentiality;
Ability to establish and maintain effective working relationships with all levels of management;
Ability to interpret and put into practice policies and procedures along with the ability to identify needed changes, revisions, and improvements and communicate through verbal and written word.
Excellent problem solving and analytical skills;
Demonstrated knowledge of an agency organization and function including how state, local, and federal might have different funding mechanisms, with a working knowledge of how to obtain state, local, and federal accounting, budgeting, and applicable laws, policies and procedures;
Must be able to adapt to constant change within and outside the agency
Must be able to communicate well both verbally and written
A degree is not required. However, a High School Diploma or High School Equivalent (HSE) and at least 7+ years of accounting, auditing, financial analysis, or related experience applying the outlined knowledge, skills, and abilities in a similar role may be considered.
Individuals should have the ability to perform essential functions with or without reasonable accommodation.
Supervisory Responsibilities/Direct Reports:
This role may serve as a team lead for an assigned work group.
Benefits of Employment with the State of Indiana:
The State of Indiana offers a comprehensive benefit package for full-time employees which includes:
Three (3) medical plan options (including RX coverage) as well as vision and dental plans
Wellness Rewards Program: Complete wellness activities to earn gift card rewards
Health savings account, which includes bi-weekly state contribution
Deferred compensation 457(b) account (similar to 401(k) plan) with employer match
Two (2) fully-funded pension plan options
A robust, comprehensive program of leave policies covering a variety of employee needs, including but not limited to:
150 hours of paid New Parent Leave and up to eight weeks of paid Childbirth Recovery Leave for eligible mothers
Up to 15 hours of paid community service leave
Combined 180 hours of paid vacation, personal, and sick leave time off
12 paid holidays, 14 on election years
Education Reimbursement Program
Group life insurance
Referral Bonus program
Employee assistance program that allows for covered behavioral health visits
Qualified employer for the Public Service Loan Forgiveness Program
Free Parking for most positions
Free LinkedIn Learning access
Equal Employment Opportunity:
The State of Indiana is an Equal Opportunity Employer and is committed to recruiting, selecting, developing, and promoting employees based on individual ability and job performance. Reasonable accommodations may be available to enable individuals with disabilities to complete the application and interview process as well as perform the essential functions of a role. If you require reasonable accommodations to complete this application, you can request assistance by contacting the Indiana State Personnel Department at jobs@spd.IN.gov.
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