What are the responsibilities and job description for the Budget Specialist (209) position at Elderly Housing Development & Operations Corporation (EHDOC)?
Budget Specialist
Location: Plantation, FL or Pittsburgh, PA
Type: Fulltime, 40hrs/week
Benefits: Free Medical, Dental Vision, Pension and 401K
Job Summary
The Budget Specialist supports financial and operational planning, forecasting, and reporting for EHDOC’s portfolio of affordable housing communities, including properties operating under HUD 202, HUD 202/PRAC, Section 8/PBRA, LIHTC, and market‑rate programs. This full‑time role ensures financial projections accurately reflect actual operating conditions and regulatory requirements, including rent limits, utility allowances, eligibility restrictions, set‑aside tests, and identified compliance risks.
The Budget Specialist collaborates closely with senior leadership, accounting, asset management, development, compliance, and property operations teams to maintain accurate financial assumptions and support ongoing monitoring of property‑level and portfolio‑wide performance.
Key Responsibilities
Budgeting & Forecasting
Qualifications Required
Location: Plantation, FL or Pittsburgh, PA
Type: Fulltime, 40hrs/week
Benefits: Free Medical, Dental Vision, Pension and 401K
Job Summary
The Budget Specialist supports financial and operational planning, forecasting, and reporting for EHDOC’s portfolio of affordable housing communities, including properties operating under HUD 202, HUD 202/PRAC, Section 8/PBRA, LIHTC, and market‑rate programs. This full‑time role ensures financial projections accurately reflect actual operating conditions and regulatory requirements, including rent limits, utility allowances, eligibility restrictions, set‑aside tests, and identified compliance risks.
The Budget Specialist collaborates closely with senior leadership, accounting, asset management, development, compliance, and property operations teams to maintain accurate financial assumptions and support ongoing monitoring of property‑level and portfolio‑wide performance.
Key Responsibilities
Budgeting & Forecasting
- Lead preparation and submission of annual HUD and LIHTC budgets.
- Collaborate with the property accounting team, Regional and Community Managers, and Human Resources to ensure budget accuracy, responsible for timely submission of budgets to HUD Account Executives and investment partners.
- Partner with Development and Accounting teams on a quarterly basis to evaluate LIHTC property performance.
- Collaborate with property accountants and Community Managers to review monthly budget‑to‑actual variance reports.
- Prepare reporting packages for owners, investors, and lenders, including narratives, key performance indicators (KPIs), reserve analyses, covenant compliance, and explanations aligned with LIHTC and HUD requirements.
- Ensure budgets accurately reflect required reserve deposits, including replacement reserves, operating reserves, and limited partnership requirements.
- Incorporate LIHTC program requirements into financial planning, including unit mix, applicable fraction, first‑year leasing rules, and credit delivery timing.
- Support management and compliance teams in preparation for HUD Management and Occupancy Reviews (MORs) and owner, investor, and syndicator reporting.
- Serve as the financial liaison between accounting, property management, and compliance teams on lease‑up pacing, occupancy strategies, and mitigation of Housing Assistance Payment (HAP)‑related revenue delays.
- Provide training to site teams on how compliance accuracy impacts budgets, revenue, and financial reporting.
Qualifications Required
- Bachelor’s degree in finance, accounting, business, economics, or a related field; equivalent experience may be considered.
- Minimum of three (3) years of experience in affordable housing management, accounting, or asset management.
- Demonstrated experience with HUD, Section 8 (PBRA/PBV), and LIHTC programs.
- Strong Excel proficiency, including lookups, PivotTables, and financial modeling.
- LIHTC lease‑up, first‑year credit delivery, and compliance‑driven budgeting.
- TRACS and EIV processes.
- Two to three (2–3) years using RealPage OneSite.