{"id":15849,"date":"2023-11-28T13:01:02","date_gmt":"2023-11-28T13:01:02","guid":{"rendered":"https:\/\/worldscholarshipforum.com\/wealth\/?p=15849"},"modified":"2023-11-28T13:47:52","modified_gmt":"2023-11-28T13:47:52","slug":"budget-manager","status":"publish","type":"post","link":"https:\/\/kiiky.com\/wealth\/budget-manager\/","title":{"rendered":"Budget Manager: Jobs, Salary, Education","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"\n
Nearly every organization needs someone charged with budgeting their finances and resources, if not a department. Budget management is a key aspect in the success of an organization, or not facing a downfall if we\u2019re being specific. <\/p>\n\n\n\n
A good budget manager keeps the business afloat both in good and tough times. Let\u2019s take a look at what budget management is.<\/p>\n\n\n\n
Budgetary management is the process of managing and tracking income and expenses. In most cases, companies have budgets for individual departments as well as an overall company budget. Departmental managers are often charged with managing their department\u2019s budget.<\/p>\n\n\n\n
Budgets are usually comprised of the following aspects:<\/p>\n\n\n\n
While we shall look at more of these later on, there are two main responsibilities for successful budgetary management. One is budget preparation, and the other is budget tracking.<\/p>\n\n\n\n
Read: How to Separate Bank Accounts for Budgeting in 2023<\/a><\/p>\n\n\n\n Budgetary management can be done through cash accounting or accrual accounting.<\/p>\n\n\n\n Selecting the appropriate style of accounting will depend on factors like company size, budgetary management experience, and the items on the budget. Smaller companies often apply cash accounting as opposed to accrual accounting which is mainly used by larger-sized organizations.<\/p>\n\n\n\n Managing a budget can sometimes be quite challenging. It often requires these skills for you to carry it out successfully;<\/p>\n\n\n\n Preparing a budget for the coming year is a vital skill for managers. When preparing your annual budget, consider things like business objectives and departmental goals.<\/p>\n\n\n\n Begin by identifying overhead costs that must be paid for the department to function. Then you can consider capital investments that could improve the department. <\/p>\n\n\n\n Taking the time to prepare a detailed and functional budget will make its management much simpler. <\/p>\n\n\n\n Managers must understand how to analyze the financial health of their department and possibly the entire organization. Profits and losses will impact the annual budget. <\/p>\n\n\n\n An excellent budgetary manager can review financial statements and make informed decisions for their budget based on the information they find. <\/p>\n\n\n\n Financial forecasting is the process of determining how a business or department will perform at a predetermined future time. Budgetary management must include financial forecasting. <\/p>\n\n\n\n Great managers use financial forecasting to determine where they should invest money and where they should expect additional costs. <\/p>\n\n\n\n This will help them maintain a balanced budget for the year. <\/p>\n\n\n\n Read: How to Separate Bank Accounts for Budgeting in 2023<\/a><\/p>\n\n\n\n Different organizations may require you to take on different tasks. However, there are common responsibilities that cut across all companies. <\/p>\n\n\n\n These responsibilities include;<\/p>\n\n\n\n To be a budget manager, companies will require you to possess the following;<\/p>\n\n\n\n Salary: $68,304.00 – $95,616.00 Annually<\/p>\n\n\n\n Location: Thurston County \u2013 Olympia, WA<\/p>\n\n\n\n The Program Budget Manager, Mental Health Program, provides advanced-level technical analysis, advice, and recommendations to management decision-makers, including the HCA Chief Financial Officer and agency executive management. <\/p>\n\n\n\n The incumbent’s work directly affects the management of the HCA Medicaid budget of over $16 billion per biennium.<\/p>\n\n\n\n You will be responsible for developing and monitoring key components of the Medicaid budget, mental health budget, administrative budget, agency budget requests, allotment processes, fiscal notes, and financial analyses in a manner that ensures the process undertaken and content of all deliverables meet the HCA and Office of Financial Management (OFM) requirements and guidelines.<\/p>\n\n\n\n Read: 10 Steps To A Budget Made Easy Process In 2023<\/a><\/p>\n\n\n\n This position requires in-depth knowledge of and skill with the technical methods and tasks that are assigned and the context in which they are applied; this includes a thorough understanding of the Medicaid program (federal and state regulations and responsibilities). <\/p>\n\n\n\n The Program Budget Manager must be able to manage multiple high-priority assignments and resources concurrently, taking the initiative to resolve problems or recommend alternative approaches when appropriate.<\/p>\n\n\n\n Financial Management, Fiscal Impact, and Decision Support<\/p>\n\n\n\n Salary: $44.71 – $67.09 Hourly<\/p>\n\n\n\n Location: Seattle, WA<\/p>\n\n\n\n Under the direction of the SDOT’s Finance Manager, the Budget Manager (Manager 2) will coordinate the development of SDOT’s over $700 million annual budget; monitor and evaluate financial performance; provide advice and counsel to SDOT divisions on budgetary matters; establish budget processes, and manage budget systems. <\/p>\n\n\n\n This position will work with various City departments, SDOT division directors, managers, and staff at all levels to resolve financial and budget issues, highlighting areas of opportunity and risk to various stakeholders. <\/p>\n\n\n\n The Budget Manager will also work collaboratively with the Capital Improvement Program Manager, the Project Portfolio Management Team Manager, the Accounting Manager, and Strategic Advisors within the SDOT Finance team. <\/p>\n\n\n\n In addition, this position is one of the SDOT’s primary liaisons with the City Budget Office and regularly briefs City Council staff on SDOT’s budget and finances.<\/p>\n\n\n\n You will be expected to:<\/p>\n\n\n\n Read: 10 Simple Ways To Save Money On A Tight Budget This Year<\/a><\/p>\n\n\n\n Salary: $48.93 – $73.38 Hourly<\/p>\n\n\n\n Location: Seattle, WA<\/p>\n\n\n\n This position manages a team of nine (9) finance analysts, helping to shape policies and programs through cross-collaboration with SPU lines of business, thorough analysis, and problem-solving. <\/p>\n\n\n\n This position works in conjunction with the Rates and Accounting Teams in developing proposal strategies that help shape significant SPU policies and programs influencing the growth of the utility and its mission.<\/p>\n\n\n\n The Budget Manager also represents the Finance Division in strategic arenas, supporting the work driven by the community and stakeholder feedback and monitoring program budgets and resources with other SPU staff to ensure success. <\/p>\n\n\n\n The position requires expertise in the budget, finance, project management, program development and evaluation, contract negotiation, inclusive management, and oversight of federal and local funding requirements.<\/p>\n\n\n\n Salary: $115,467 to $144,333 annually<\/p>\n\n\n\n Location: Bellevue, WA<\/p>\n\n\n\n The Capital Budget Manager reports directly to the Vice President of Manufacturing. <\/p>\n\n\n\n In this role, you will lead the corporate-wide administration of all aspects of the capital budgeting process, surplus asset management, and facilitator for coordinating manufacturing methods’ improvements among various PACCAR operating entities. <\/p>\n\n\n\n You also perform special projects as required in support of executive management.<\/p>\n\n\n\n Salary: $45,000-$55,000\/year<\/p>\n\n\n\n Location: Corban University Salem, Oregon<\/p>\n\n\n\n The Financial Analyst operates under the direction of the VP for Business. This position is responsible for managing budget implementation, budget cycle, budget training, and forecasting while developing cost-cutting strategies with staff and faculty. <\/p>\n\n\n\n This position assists with financial software administration and feature implementation and acts as a liaison with IT support in this regard. <\/p>\n\n\n\n This position is also responsible for developing clear, concise financial reports for effective decision-making, and performing daily, monthly, and quarterly accounting responsibilities.<\/p>\n\n\n\n Read: Best Budget Apps For Couples<\/a><\/p>\n\n\n\n A career in budget management is a great choice for anyone in finance. While it may require you to have a notable level of experience in the field to be hired by an amazing organization, the efforts to get there pay off pretty well. Share with us your thoughts on this in the comments.<\/p>\n\n\n\n What is the average salary?<\/strong><\/p>\n\n\n\n $79,000 annually<\/p> <\/div> Yes<\/p> <\/div> No<\/p> <\/div> Yes<\/p> <\/div> Yes<\/p> <\/div> <\/div>\n\n\n\nHow Is Budget Management Done?<\/strong><\/span><\/h2>\n\n\n\n
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What Necessary Skills For Managing A Budget Do I Need?<\/strong><\/span><\/h2>\n\n\n\n
Budget preparation<\/strong><\/span><\/h3>\n\n\n\n
Financial analysis<\/strong><\/span><\/h3>\n\n\n\n
Financial forecasting<\/strong><\/span><\/h3>\n\n\n\n
What Responsibilities Are Budget Managers Charged With?<\/strong><\/span><\/h2>\n\n\n\n
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What Is Required Of Me To Be Hired As A Budget Manager?<\/strong><\/span><\/h2>\n\n\n\n
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Top Budget Manager Jobs You Should Consider In 2022<\/strong><\/span><\/h2>\n\n\n\n
#1. Program Budget Manager, Mental Health Program \u2013 HCA<\/strong><\/span><\/h3>\n\n\n\n
Responsibilities<\/strong><\/span><\/h4>\n\n\n\n
Budget and Financial Management<\/span><\/h4>\n\n\n\n
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Educational Requirements:<\/strong><\/span><\/h4>\n\n\n\n
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#2. Budget Manager (Manager 2) \u2013\u00a0The Seattle Department of Transport<\/strong><\/span><\/h3>\n\n\n\n
Responsibilities<\/strong><\/span><\/h4>\n\n\n\n
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Educational Requirements:<\/strong><\/span><\/h4>\n\n\n\n
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#3. Budget Manager (Mgr. 3) \u2013 Seattle Public Utilities<\/strong><\/span><\/h3>\n\n\n\n
Responsibilities<\/strong><\/span><\/h4>\n\n\n\n
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Educational Requirements:<\/strong><\/span><\/h4>\n\n\n\n
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#4. Capital Budget Manager \u2013 PACCAR Inc.<\/strong><\/span><\/h3>\n\n\n\n
Responsibilities<\/strong><\/span><\/h3>\n\n\n\n
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Educational Requirements:<\/strong><\/span><\/h4>\n\n\n\n
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#5. Financial Analyst\/Budget Manager \u2013 Corban University<\/strong><\/span><\/h3>\n\n\n\n
Responsibilities<\/strong><\/span><\/h4>\n\n\n\n
Budget Management<\/span><\/h4>\n\n\n\n
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Financial Systems Management<\/span><\/h4>\n\n\n\n
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Other duties and accounting responsibilities as assigned, including but not limited to:<\/span><\/h5>\n\n\n\n
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Educational Requirements:<\/strong><\/span><\/h4>\n\n\n\n
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Conclusion<\/strong><\/span><\/h2>\n\n\n\n
Frequently Asked Questions<\/strong><\/span><\/h2>\n\n\n\n
References<\/strong><\/span><\/h2>\n\n\n\n
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Recommendation<\/span><\/h2>\n\n\n\n
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