The Senior Accountant-Financial Reporting prepares the periodic internal and external financial reporting for Golden Spread Electric Cooperative, Inc. (GSEC) and its affiliates. This includes the preparation of the monthly financial Board of Directors report package, the quarterly external financial reports submitted to lenders and rating agencies and the annual financial statements prepared for external audit. This position prepares with guidance and input of Controller and the Vice President of Member Services the financial information for the GSEC annual report. This position maintains complete and accurate financial and other records necessary to support the company’s financial reports. This position is the primary liaison to Golden Spread’s external auditors and is responsible for managing the annual audit engagement. This position is responsible for the development of positions on new GAAP pronouncements and documentation of positions related to new accounting transactions. This position will also be responsible for accounting of patronage capital, debt compliance, and treasury support functions as needed.
Financial Reporting and Analysis:
Prepare monthly reports that assess the financial condition of the Cooperative and its subsidiaries. Prepare internal financial and budget reports to assist with the management of department projects, operations and reporting.
Prepare the Annual Report. This includes financial statements with footnotes, management’s discussion and analysis, highlights, finance related portion of year in review and financial graph data.
Prepare quarterly and annual financial information to rating agencies and noteholders. This includes responding to questions and providing an update of financial activities or general cooperative activities when necessary.
Prepare quarterly notes and cash flows for various regulatory reports of the FERC and state regulators as needed. This includes the FERC Form 1 and the 3Q.
Annual External Audits/GAAP:
Plan, organize, review and prepare work papers and other documentation for GSEC annual audit. Direct interaction with external auditors during entire audit process, including preliminary information requested, onsite audit and finalizing audit report.
Prepare GAAP research and write position papers for External Auditors as needed.
Research and plan for new GAAP pronouncements or new accounting transactions.
Monitor compliance with debt agreements. Monitor credit lines and participate in other bank relationships.
Maintain Patronage Capital program in accordance with Board directives.
Provide Treasury disbursement support as needed.
Develop policy and procedures around Golden Spread key accounting practices and manage the changes to that policy.
Complexity of Problems
The greatest volume and typical problems are accounting issues and new GAAP pronouncements.
The most typical problems include completing various monthly financial and accounting reports designed to evaluate the current financial condition of the Cooperative.
The most complex problems are providing analysis and guidance regarding the GAAP financials statements.
Internal and External Contacts
External include but not limited to: member systems, outside counsel, outside consultants, outside auditors, outside tax consultants, rating agencies, banking and financial institutions, regulatory agencies, affiliated organizations (ACES, TEC, etc.), legislative representatives, NERCA, and vendors.
Internal include senior management, the Board of Directors, accounting managers, and departmental staff.
Education, Knowledge and Experience Required
Four year accounting or business degree
CPA certification is required
5-7 years of accounting/reporting experience is required
Utility experience preferred
Excellent verbal and written communication skills
Ability to work in collegial team environment
Requires effective working knowledge of utility accounting practices i.e., Federal Energy Regulatory Commission (FERC) and GAAP
General knowledge of accounting processes and internal controls,
Position requires the preparation of a variety of technical, administrative and management reports with a high degree of accuracy for the use by Controller, CFO, and other Senior Management team members, Cooperative’s Board of Directors, rating agencies, banking institutions and other interested outside organizations
Must be able to organize work to meet deadlines
Demonstrated ability to maintain confidentiality
Decision Making and Judgment
Location: Amarillo, TX
About Golden Spread Electrical Cooperative
Golden Spread Electric Cooperative, Inc. is a tax-exempt, consumer-owned public utility, organized in 1984 to provide low cost, reliable electric service for its rural distribution cooperative members.
Its 16 Member systems provide service to approximately 282,000 member-consumers located in the Oklahoma Panhandle and an area covering 24 percent of Texas land area including the Panhandle, South Plains and Edwards Plateau Regions.
Golden Spread owns Mustang Station, a 480 megawatt, a gas-fueled, combined cycle generating plant located near Denver City, Texas, as well as Mustang Station Units 4, 5 and 6, two 150 megawatt combustion turbine-generators and one 163 megawatt combustion turbine-generator with inlet chilling located at the Mustang Station site. In 2011 Golden Spread added to its generating fleet Antelope Station, a 168 megawatt generating facility made up of 18 quick start engines located near Abernathy, Texas, and Golden Spread Panhandle Wind Ranch, a 78 megawatt wind facility made up of 34 wind turbines located near Amarillo, Texas. In 2014 and 2015 Golden Spread expanded its generation capacity further by adding 3 GE combustion turbines at Antelope Station, which... was re-branded the Antelope Elk Energy Center with the installation of Elk Units 1, 2, and 3, capable of producing a combined 606 megawatts.