ACCOUNTANT I

Introduction

The Maryland Higher Education Commission (MHEC) is the State’s higher education regulatory and coordinating board, responsible for establishing statewide policies for Maryland public and private colleges and universities, as well as for the for‑profit career schools. MHEC administers more than $100 million each year through financial aid programs that positively impact students as they work to achieve their higher education goals.

Position Duties

The Maryland Higher Education Commission’s Office of Budget and Administration is responsible for the overall fiscal and budgetary coordination for the agency, including procurement; accounts payable/receivable; payroll; budget formulation and submission; and fiscal year‑end close‑out. The Office also manages the accurate recording and processing of financial transactions for all fund sources for the agency.

The Accountant I serves as the accounts payable and accounts receivable expert for the agency, ensuring the bond repayment program is accurately reconciled and recorded, handling the collection of over $24 million in revenue annually, and maintaining excellent customer service under the scholarship repayment program. The employee also develops reports for external agencies and constituent groups and supports Accountant II, Accountant Lead, and the F AC Manager.

Accounts Receivable

• Bond Repayment: lead the administration and collection of funds for the repayment of bonded scholarships due to student default; calculate repayment amounts, maintain controls, and post payments via data flow.
• Monitor and track student payments, respond to inquiries, and follow‑up on outstanding accounts receivables at 30‑day intervals.
• Prepare necessary correspondence and paperwork in accordance with Central Collection Unit directives; reconcile repayments monthly.
• Serve as the bond repayment point of contact for OLA audits, including implementing corrective action plans and audit recommendations.
• Nursing Program Revenue: collect, reconcile, and post over $16 million in revenue annually; provide cash‑flow updates and post refunds and credits on returned grant funds.
• Retirement Refunds: collect and post revenue transactions from community colleges for ineligible state pension returns.
• Guaranty Student Tuition Fund: collect and record annual fund transactions, ensuring proper account posting.

Accounts Payable

• Monitor invoice mailbox and code payments into the Financial Management Information System (FMIS).
• Process stop‑payment requests for undeliverable checks.
• Coordinate with the Agency FMIS Coordinator to set up accounts and vendors in FMIS.

General Accounting

• Act as agency backup for Accountant II, posting and accounting transactions, adjustments, and inter‑agency transfers.
• Perform bank account reconciliations.

Year‑End Closing / Budget Preparation

• Assist the Director with the fiscal year‑end close‑out process in compliance with General Accounting Division guidelines.
• Prepare expenditure and revenue reports for close‑out.
• Ensure revenue transactions are properly coded and adjusted at year‑end.

Minimum Qualifications

Educational Requirement:

• Bachelor’s degree in Accounting from an accredited college or university, supplemented with three credit hours in auditing.

Experience:

• One year of experience examining, analyzing, and interpreting accounting systems, records, and reports using generally accepted accounting principles.

Education substitution:

• Thirty credit hours in accounting and related courses (including auditing) may substitute for the required bachelor’s degree.

Experience substitution:

• One year of professional auditing experience may substitute for the required experience.

Military substitution:

• U.S. Armed Forces service as a commissioned officer in the Accounting Officer classification or Financial Management specialty codes may substitute for a year‑for‑year basis.

Desired / Preferred Qualifications

• Experience handling cash receipts, accounts receivable, and accounts payable.
• Experience processing in FMIS or similar accounting software.
• Strong communication skills.
• Experience performing reconciliations, working with cash receipts, and submitting accounts to the Central Collection Unit (CCU).
• Advanced Excel skills, including pivot tables and complex equations.

Selection Process

Candidates will be evaluated based on education, training, and experience relevant to the position. Successful candidates will be ranked as Best Qualified, Better Qualified, or Qualified and placed on an eligible employment list for at least one year.

Benefits

State of Maryland benefits are available to eligible employees.

Equal Opportunity Employer

As an equal opportunity employer, Maryland is committed to recruiting, retaining, and promoting employees who reflect the State’s diversity. Veterans and individuals with disabilities or bilingual candidates are encouraged to apply.