Budget Manager Job Description

The job description of a budget manager involves the preparation, allocation and expenditure of a budget. The manager may work for a retail business, a corporation that provides products or services, a hospital, a government entity or any other establishment that spends money.

Position Description

The main job of the budget manager is to enforce limits on spending to allow a financial process to function properly with maximum profits being the ultimate goal.

Essential Duties and Responsibilities of a Budget Manager

  • Interprets budget directives and carries them out.
  • Manages the annual budget.
  • Participates in budget discussions.
  • Prepares many reports relevant to the budget for various departments.
  • Compiles and analyzes accounting records.
  • Researches financial management issues.
  • Responds to inquiries related to budget issues.
  • Determines financial resources needed to implement certain programs.
  • Analyzes department budgets to maintain control of expenditures.
  • Directs the preparation of budget reports.
  • Consults with managers to ensure that budget changes are implemented.
  • Submits recommendations for the approval or decline of funding requests.
  • Finds ways to improve efficiency and increase revenues.
  • Ensures that budgets are executed in accordance with generally accepted accounting practices.
  • Complies with state and federal laws and rules of regulatory agencies.
  • Analyzes trends affecting expenditures and adjust budgets accordingly.
  • Examines budgets for accuracy and compliance with rules and regulations.
  • Performs cost-benefit analyses on all programs.
  • Matches appropriations with specific programs.
  • Approves distribution of emergency funds.
  • Provides technical assistance with cost analysis.
  • Communicates with management about budget issues in the various departments of a company.
  • Answers and is accountable to the chief financial officer.
  • Supervises purchasing and grants management.
  • Reviews all budget amendments, strategic plans and performance measures.
  • Implements and manages budgetary policies and procedures.
  • Monitors revenue.
  • Makes revenue predictions based on current economic data.
  • Conducts presentation of budget analysis before an organization’s leadership.
  • Generates budget explanations using spreadsheets and graphic illustrations.

Required Knowledge, Skills and Abilities

  • Must possess exceptional math skills.
  • Must have excellent verbal and written communication skills.
  • Must have excellent interpersonal skills.
  • Must have good computer skills and an understanding of budget and finance software.
  • Possess superior analytical skills.
  • Good reasoning and judgment skills are essential.
  • The ability to multi-task and work on several different projects at the same time is preferred.
  • Must have a clear understanding of accepted accounting practices.

Education and Experience

  • Bachelor’s degree in Finance, Accounting, Business, Public Administration or other business-related field.
  • Master’s degree in Business Administration or Economics.
  • Previous experience working with budgets in a finance department.
  • Continuing education hours must be taken each year.
  • Certified Budgeting Professional designation.

Work Environment

  • Time is spent primarily in a private office or shared office space.
  • Must work regular hours of Monday through Friday 8:00 a.m. to 5:00 p.m.
  • Must be able to work evenings or weekends during certain periods of a fiscal year.
  • Must be able to spend many hours looking at a computer screen.
  • Must be able to spend long hours sitting without much opportunity for walking around.

Salary

  • Average salaries range from $50,000 to $120,000 depending on the size of the company.

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