Proactive 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.