Construction/Development controller- Project Accountant
Resume:
WILLIAM R. PATTON
Staten Island NY, 10312
***************@*****.***
WORK EXPERIENCE
Arctrust Properties, Inc. Clifton, NJ May 2022 - August 2022 Controller – Capitol Opportunity Zone Fund LP and ARCTRUST/Velocity Joint Ventures.
● Customary services provided by a fund Controller in support of our company’s commercial real estate practice, including, but not limited to the preparation of GAAP financial statements for COZ Fund and Velocity JVs.
● Ensuring compliance under the Internal Revenue Code for opportunity zone fund rules and regulations.
● Assisting management with important financial decisions regarding the Velocity JVs and COZ Fund, managing the accounting functions on a day-to-day basis for COZ Fund and Velocity JVs.
● Approving and allocating invoices to lease holders in AIA format to have cash drawls completed on time.
● Working with on site JV to make sure all financial and real estate development and lease documents are completed and in the format approved by AvidXchange.
● Manage purchase order process.
● Create a project summary which includes updates on contract status.
● Track project costs, invoicing, and provide change order management support.
● Manage all aspects of accounting: billing, financial statements, general ledger, project accounting, payroll, accounts payable, accounts receivable, and inventory.
● Prepares monthly budget reports.
● Anticipate challenges and proactively find solutions.
● Take accountability and ownership for work performed ensuring timely completion and keeping lines of communication open with team members and management.
● Complete month end close process.
● Oversees and directs budgeting, audit, tax, accounting, purchasing, real estate, long range forecasting, and insurance activities for the organization.
● Directs the fiscal department staff in providing and directing procedures and computer application systems necessary to maintain proper records and to afford adequate accounting controls and services.
● Appraises the organization’s financial position and issues periodic reports on organization’s financial stability, liquidity, and growth.
● Directs and coordinates the establishment of budget programs.
● Coordinates tax reporting programs and investor relations activities.
● Analyzes, consolidates, and directs all cost accounting procedures together with other statistical and routine reports.
● Oversees and directs the preparation and issuance of the corporation’s annual report.
● Directs and analyzes studies of general economic, business, and financial conditions and their impact on the organization’s policies and operations.
● Analyzes operational issues impacting functional groups and the whole institution, and determines their financial impact.
● Evaluates and recommends business partnering opportunities.
● Establishes and maintains contacts with funding sources, financial institutions, and the investment community. Woods Bagot Architects PC / ERACO Inc, New York, NY January 2021 - May 2022 Sr Project Accountant / Finance Manager
● Supporting the Studio Leadership and staff on all finance matters and ensuring all financial requests for information are delivered within the required time frame to the standard expected.
● During the Pre-WIP meeting, discuss the progress of the month (vs the forecast) with the project manager and the Studio Chair. Understand the future spend on the project and update the MS03 with the future resources/expected hours required to completion.
● Internal pipeline report is updated for revenue forecast to project completion.
● BST is updated with future revenue, and to have projects move above the line as a win, when contracts are signed.
● Sales pipeline is reviewed for committed revenue (with internal pipeline)
● The Bids and opportunities (from sales pipeline) are discussed with marketing coordinator. Bids lost are taken out and for new bids, the budget and fees are updated in BST. The Master Project Forecaster is also updated for the future forecast on bids submitted.
● Payroll forecaster is updated (by discussion with P&C manager) – new joiners are added, resignations/restructured employees taken off and increments/adjustments put through.
● Production capacity is calculated based on staff forecasted (their charge out rate, leave expected and utilization). Write off is also estimated using budget write off and potential issues on projects.
● Updates to other costs forecast are made. Each line item in other costs is compared to the budget, and actuals on monthly basis.
● Month end & mid-month forecast – prepare monthly forecast for studio revenue, payroll, overhead, billing & potential variations. Mid-month revalidate the month’s revenue forecast.
● Ensure that all Studio timesheets are entered by the Studio on a weekly basis, and all completed prior to pre-WIP
● A review of the project detailed charges is done and any abnormalities, bookings to incorrect phases/projects are corrected. This review is also done as part of the pre-WIP review.
● If there are notable differences in the time spent vs discussed at pre-WIPs, this is then discussed with the PM and Studio Chair. Based on discussions, the revenue figure is adjusted /updated.
● The final revenue figures are updated using percentage complete module or hourly work.
● Post Accruals, depreciation, prepayment journals, doubtful debts general provision at month end close.
● Quarterly review is done on specific doubtful debts. A specific provision (utilized against the general provision) is made based when debt is deemed to be doubtful and a write off is made (if it cannot be collected).
● On a quarterly basis a detailed review of the WIP balances is done for all projects and checked against future billings and revenue take up.
● On a quarterly basis, AP reconciliations are reviewed and any adjustments to AP balances is made.
● After all entries are booked, an income statement review is done by comparing each line item to the forecast/budget and prior month’s actuals. Any variances, differences are investigated, adjustments are made as applicable, and explanations are recorded.
● Billings and collections are also updated on the Master Project Forecaster (based on updates from Pre-WIP).
● Status report are updated and sent to the Project Leaders for review and comments.
● WIP analysis, AR analysis, payroll, accruals reconciliations are done.
● Biweekly cash flows forecasted are updated. Collections and payments are forecasted.
● Over the week cash flows is monitored against the forecast and payments are made based on forecasted collections.
● Debtor invoices – Preparing invoices with Project Leaders, entered in BST and follow up with the client to ensure invoices are processed within the payment term.
● On a regular basis, reminders are sent out to PM’s on outstanding invoices.
● If the invoices are with the client’s Finance team for payment processing, phone calls. emails are made to follow up for payment.
● The executive team is regularly updated on the status of collections and outstanding invoices.
● Monthly AmEx statements are reviewed, approved and entered against projects or non-project accounts.
● Apply deposits to invoices, create payments to vendors and sub-contractors.
● Reporting directly to the Group CFO & Group Financial Controller based in Australia to ensure the independence of the finance function
● Process, approve and pay vendor invoices for project and non-project expenses.
● Oversee and manage the financial performance and cash flows to multiple regions of the world.
● Lead the Business Planning and the Annual Budget process.
● Oversee regional compliance – tax, accounting, legal and regulatory matters, on a global scale
● Build business plan, and present to Global Management.
● Assist Management in the decision to hire employees based of the achievable revenue, and billable rates.
● Forecast out sub-contractors, payroll and future new hires, other cost, reimbursable expense applied to projects to view and report Payroll percentage, EBIT percentage, Contribution percentage in order to determine to increase top line, utilize employees more efficiently, hold of on new hires if top line doesn’t support it, or to cut other cost. Golden SVCS LLC, Oak Ridge, TN December 2018 - March 2020 Sr Accountant
● Manager to payroll and AP/AR department.
● Initiate and maintain project budget data into accounting software.
● Maintain General Ledger, close books on a monthly, annual basis.
● Preparation of payroll tax documents and deposits.
● Complete client IDIQ invoices.
● Responsible for Balance Sheet, P and L statements and reconciliations of accounts.
● Dealt with contract managers, catering to their needs and requests in order to perform tasks at hand and meet deadlines.
● Process 401K payroll uploads.
Regal Reconstruction, Staten Island, NY November 2013 – November 2018 Construction Accountant
● Accurately prepared monthly billing and expenses.
● Worked with owner and project managers to record job costing.
● Initiate and maintain project budget data into accounting software.
● Boost profits, monitoring Accounts Receivable collections process to streamline process.
● Performed all accounting functions including recording Journal Entries into General Ledger and Bank Reconciliations.
● Diminish process errors by maintaining contact and change order accuracy.
● Responsible for balance sheet and profit and loss statements.
● Prepared and reviewed all Accounts Payable to vendors and subcontractors.
● Prepared client billings on multiple projects.
● Researched and compiled data to track reimbursable expenses to projects.
● Coded and processed consultant and vendor invoices for payment.
● Researched payment discrepancies when necessary.
● Determined account balances and estimated project accruals and deferrals
● Analyzed aged accounts receivable and advised management for collection Morgan Stanley, Manhattan, NY June 2012 – October 2013 MSIM Product Profitability Reporting
● Worked closely with the IT team to ensure the product profitability model appropriately allocated revenues, expenses, and non-financial data to the proper products.
● Strategize and implement changes to product profitability as required by business/functional needs and other restructurings.
● Variance analysis on a month over month basis for all entities within Morgan Stanley Investment Management.
● Assist in the annual 15C process, analyze and report product profitability results to MSIM senior management.
● Coordinate with Segment Reporting, Business Unit controllers, and Non-Financial Data teams to ensure consistency in reporting.
● Manage and maintain the monthly product profitability reporting process. Grant Thornton LLP, Manhattan, NY January 2012 – May 2012 Financial Services Tax Associate
● Clients include Partnerships, Corporations, Hedge Funds, Estates, Trusts, Foundations and Individuals.
● Prepared work papers based on information provided by clients such as book to tax analysis, allocated funds for active partners in fund, trial balances, 40-1 and other work papers used to prepare tax returns.
● Prepare and review of Federal, State and Local Tax Returns and Work-papers (1065, 1120, 1040, 1041, 990) for various funds and other clients including quarterly projections and estimated tax payments often using client specific templates.
● Prepare reconciliations of security transactions for various funds and individuals holding multiple brokerage accounts. Bank of America, Merrill Lynch, Jersey City, NJ October 2010 - December 2011 ML&CO Accounting, MLPFS Broker Dealer Accounting
Intermediate Financial Analyst, Legal Entity Controller
● Review monthly legal financial P&L and Balance Sheet reports and variances for 22 legal entities.
● Coordinate month-end close process for 22 Legal entities.
● Perform monthly reconciliation of over 1,000 balance sheet accounts and over 100 intercompany relationships.
● Perform cash settlements, funding transactions between parent holding company, holding company subsidiaries and their affiliates.
● Prepare year-end Standalone Financial Statements and corporate reporting with 10K and 10Q SEC disclosure requirements. EDUCATION
ST. JOHN’S UNIVERSITY, Staten Island, NY
Peter J. Tobin School of Business
MBA degree, specialized in Accounting, May 2011
Bachelors of Science degree in Accounting, May 2010 Academic Scholarship Recipient
Beta Alpha Psi Honor Society: Event Coordinator, Board Member Accounting Society: Public Relations Director; Board Member SKILLS & HOBBIES
Experienced in Oracle Operating System, SAP, Go Systems, Sure Prep, Deltek, Summit, Peach Tree Quickbooks and Race. Expert in MS Excel and MS Power Point. Golf, Hockey, Baseball, Physical Fitness and Officiating Sports such as Football, Baseball, and Ice Hockey
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