Fiscal & Business Analyst II
Job Description
This is a professional position providing financial analysis and projections, budget management, and fiscal resource management for a complex program or department with multiple grant, auxiliary, and/or foundation funding sources. The primary purpose of this position is to analyze financial and accounting data and keep management and/or faculty investigators informed on the financial and budget status of the unit. This position monitors and analyzes budget and accounting data to ensure compliance with statutes, regulations, and accounting principles, and keeps manager informed regarding the financial and budget status of their department. Prepares various forecast and trend reports. Prepares budget forecasts and annual budgets.
Handles complex issues and problems. This job will report to the Fiscal and Business Administration Manager. This job class specializes in financial reporting and analysis, fiscal resource management, and budget analysis. The Fiscal and Business Analyst provides financial information through budget projections and financial forecasting (e.g., expected cash flow, anticipated revenue or income) to help in financial planning, identifying trends in departmental spending, etc. Positions in this job class develop financial reports, statements and spreadsheets for use by management in determining current and future financial position. This is administrative and analytical work which is directly related to the mission and fiscal well-being of the institution, requiring the application of discretion and judgment on matters of significance with respect to budget planning, allocation of fiscal resources, and financial reporting and control. As such the duties of this position are intended to qualify for exempt status under the administrative duties exemption of the Fair Labor Standards Act. The job is responsible for recommending accounting and financial control policies for the clinical research activities within the department, and in coordination with the Fiscal and Business Administration Manager and Associate Director of Finance, develop and implement these policies.This job also ensures that financial activities are in compliance with all applicable federal and state regulations (e.g., grant/OMS compliance, GMP, etc.), and USF policies and procedures. The Fiscal and Business Analyst may supervise a limited number of employees in fiscal support positions; however supervision is not mandatory for this job class. This position serves as a liaison with central departments such as the Controller's Office, Division of Research, Budgets, or Purchasing. This position may have a role of significance in cash collection and control.
Responsibilities
- Balances the budget(s) by performing a detailed review and analysis of the actual vs. budget for numerous accounts. Advises management of potential areas of over/under allocation, and when any budget transfers need to take place.
- Prepares financial reports, statements and spreadsheets to consolidate financial activities, which are utilized by management, PIs and/or accountable officers.
- Reconciles all accounts such as grants, USF Foundation, Research Foundation, Auxiliary accounts, etc. and resolves any discrepancies. May review and make adjustments to initial reconciliations done by fiscal support positions. May maintain an additional 'shadow' financial system.
- Prepares and develops financial projections/forecasts, "what if' scenarios, budget control systems, cash management systems, etc. and works with management on financial planning and reporting at monthly, quarterly and yearly intervals.
- Gathers data and assists in the preparation of the yearly operating budget plan to be submitted to the central Budget office and/or other administrative departments.
- Assists management with budget development and other grant related fiscal activities.
- Manages cash flow for an Auxiliary operation, department, or grant by monitoring expenditures, requesting funds, preparing cash operating plans, etc.
- Perform accounting and financial tasks for loans and interest payments related to large purchases or projects which have been financed.
- Recommends appropriate accounting controls to be implemented and, in coordination with Associate Director of Finance, develops new and/or makes revisions to previous fiscal procedures for the department, division, grant or college.
- Has responsibility of reviewing all purchasing related activities and provides oversight by monitoring how purchases are affecting the budget, for compliance with USF policies and OMB guidelines, and for appropriate spending limits.
- Monitors payroll expenses and may advise on appropriate chartfields/accounts for salary expenditures. Assists in planning for future salary & rate budget allocations. This includes assisting with payroll cost distributions and cost adjustments.
- Performs other program, grant, auxiliary or department specific financial or budget related activities, accounts payable / receivable, procurement, and travel / personal reimbursements
- Serves as a liaison with other USF departments and/or external agencies by problem solving, resolving budget issues, and providing appropriate information for various financial, budget or grant related inquiries.
- Prepares annual budgets for assigned programs to submit to Financial Leadership.
- Perform analytical analysis of departmental financial statements including review of budget to actuals, variances on all funding sources including auxiliary, grants, agency, convenience, USF Research Foundation and USF Foundation funds.
- Analysis should also ensure that all activity is in compliance with departmental policy, USF policies/regulations and state/federal statutes.
- Complete in-year forecasting and prepare historical trend analysis reports.
- Review and make adjustments to initial reconciliations completed by Fiscal & Business Specialists.
- Assist with compilation of annual budgets from individual units to balance to college control controls.
- Analyze auxiliary income for UBI and prepare appropriate paperwork.
- Prepare Funding Commitment to ensure college is balanced to control totals.
- Hire, train and coach student employees who assist with reconciliations.
- Other duties as assigned.
- Performs other duties as assigned.
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