Budget Analyst

Position Summary

The University of Southern Indiana is accepting applications for Budget Analyst.

Title: Budget Analyst

Division: Finance and Administration

Department: Business Office

FLSA Status: Exempt

Salary Range: $55,000

• Analyze past and present financial data. Estimate future revenues and expenses. Identify trends and address variances between budget and actual performance. Maintain records and utilize data to support financial planning and analysis for academic and administrative units.
• Assist Director of University Budgeting with coordination and development of annual University budget. Provide historical data and projections to financial managers for development of fund and organization level budgets. Evaluate submitted budgets for compliance with institutional guidelines and for accuracy compared to historical trends.
• Develop and deliver budget reports and analysis to financial managers. Promote efficient and effective use of University resources to achieve institutional and departmental goals. Serve as a resource for budget information and provide technical assistance and analysis in planning, developing, administering, and monitoring budgets. Develop and deliver training for financial managers and department contacts related to budget policies, procedures, and administration.
• Prepare periodic financial reports and forecasts. Monitor fund balances monthly and communicate with financial managers to resolve unplanned deficits promptly.
• Review funds monthly according to standards established by the Assistant Director of University Accounting. Assist with month-end and year-end closing process. Ensure accurate postings of transactions. Prepare original journal entries, corrections, accruals, and deferrals including proper supporting documentation and supplemental information to substantiate the accuracy and appropriateness of entries.
• Reconcile various operating ledger accounts. Compare revenues and expenses to source documents. Identify and resolve errors promptly. Report issues of non-compliance with University policies to Director of University Budgeting and work with financial managers to implement corrective action.
• Review select accounts receivable invoices. Ensure supporting documentation demonstrates validity and accuracy of claims.
• Monitor various suspense and clearing funds and accounts monthly. Facilitate prompt resolution of issues and preparation of journal entries to clear balances.
• Assist Director of University Budgeting with preparation of the University biennial budget request for the State of Indiana. Provide financial information, supporting schedules, and supplemental information to support presentations to the Indiana Commission for Higher Education, the State Budget Agency, and the Indiana General Assembly.
• Collaborate with Office of Sponsored Projects and Research Administration to review budgets for grant application in compliance with granting agency guidelines and Uniform Guidance prior to submission.
• Reconcile cash position on grants monthly. Coordinate requests for funds from grantors. Identify and resolve reimbursement grants with positive cash balances monthly. Coordinate return of unexpended funds at conclusion of grant as required by grantor.
• Prepare monthly budget to actual reports for restricted funds, provide analysis, and distribute to financial managers and principal investigators. Monitor payroll expenses in restricted funds for conformance with budget constraints and compliance with federal, state, and institutional requirements. Review payroll notifications and supplemental compensation requests from grant funds. Prepare requests for payroll redistributions and supporting documentation including justification in accordance with cost transfer procedures.
• Monitor and review all grant and contract accounting records according to the period of time specified in the grant agreement and/or in compliance with requirements established by granting and governmental agencies including subrecipient requests for payment, payroll, and facilities and administrative costs.
• Create and maintain University chart of accounts elements, including grant funds, to foster accurate reporting and analysis. Identify inactive funds annually and communicate with departments to evaluate status. Recommend funds for inactivation or termination after confirming zero balances in all accounts according to standards established by the Assistant Vice President for Finance and Administration and Assistant Treasurer.
• Record budget transfers, adjustments, and related journal entries. Ensure allowability, allocability, reasonableness, and consistency of transactions. Perform duties related to the month-end and fiscal yearend closing processes of the University financial records according to closing timelines established by the Assistant Vice President for Finance and Administration and Assistant Treasurer.
• Review open encumbrances. Identify inaccurate expense classifications and allocations and…