BUDGET ANALYST

State of Arkansas•Hill Township, AR

2d•Onsite

About The Position

The Budget Analyst plays a vital role in assisting with the development, implementation, and analysis of a department’s budget. This position supports the preparation of financial documents, ensures compliance with state regulations, and monitors departmental spending to optimize the allocation of state resources. The Budget Analyst will work closely with senior financial staff and department heads to provide insights into budgetary performance and make recommendations for improvements. The mission of the Department of Military is to provide a professional staff of Arkansas State Employees who help maintain and improve the readiness of Arkansas National Guard units through effective fiscal management of State Resources, Human Resource Management, and quality administration of Arkansas National Guard Programs. The Department of the Military is a drug-free workplace, this includes medical marajuna which is still considered a controlled substance under Federal Law. (Drug Free Workplace Act of 1988)

Requirements

A bachelor’s degree in accounting, finance, business administration, economics, or a related field is required, plus two (2) years of experience in budgeting, financial analysis, or a related financial management field.
Strong analytical and problem-solving skills to assess financial data, identify trends, and make recommendations for improving budget performance.
Ability to perform detailed variance analysis and explain the underlying causes of budget discrepancies.
Competence in developing financial models and forecasts to project future budgetary needs.
Exceptional attention to detail to ensure that financial data is accurate and budgetary decisions are well-supported by reliable information.
Ability to identify errors or inconsistencies in financial data and correct them before they affect the budget process.
Solid understanding of government budgeting processes, accounting principles, and financial regulations.

Nice To Haves

5+ years of experience in using Arkansas Administrative Statewide Information System (AASIS) or Accounting Software Program.
5+ years of experience working with Comprehensive Annual Financial Reports (CAFR), Quarterly Analytical Reviews, Risk Assessments, Sales and Use Tax, General Ledger Codes, Refunds to Expenditures, and Error Corrections.

Responsibilities

Assist in preparing and organizing the state’s annual budget by gathering financial data, creating projections, and analyzing historical data to ensure accurate and effective budget planning.
Collaborate with department managers to gather relevant data for the creation of department-specific budgets, ensuring alignment with overall state financial goals.
Prepare budget reports and present financial summaries to support strategic decision-making for budget allocations.
Conduct financial analysis to determine budget trends, and help identify areas for cost-saving or reallocation of resources.
Prepare and maintain financial reports that detail the department’s budgetary status, including income, expenditures, and forecasts.
Ensure the department’s budget complies with relevant laws, regulations, and policies regarding financial management and reporting.
Annual Comprehensive Financial Report (ACFR): ACFR sends out end of year checklists which is completed and returned to ACFR prior to deadlines.
Monthly Analytical Review.
Control Self-Assessment (CSA): Meet every two years with CSA division participants, update/modify the control activities current as needed. Identify any control measures that need to be added to mitigate any additional risk identified during the sessions.
Checks/Deposits: All unknown checks (rebates, overpayment, returned for lack of information, etc.) received by DOTM must be researched to determine why the check was received. Deposit the check back to the proper year, document number, fund, cost center and WBS element. Reconcile the deposits and receipts, makes sure deposits are done weekly or as necessary. Post transactions in the AASIS Cash Journal when necessary.
Refund to Expenditures: Work all prior year Refund to Expenditures and current year Refund to Expenditures.
Corrections: Error Corrections for State Funds and Revenue Corrections for all funds.
Sales Tax Rebates and Use Tax: Review, troubleshoot and monitor all sales tax and use tax rebates weekly. Process use tax at end of the month.
Monitor Appropriation and Funding/Financial Reporting: Monitor appropriation and funding in AASIS. Create financial reports on appropriation and funding for the different departments each month. How much was spent, what is still available and what is committed. Other reports as needed.
Appropriation Requests: Prepare appropriation requests when necessary.
Budget Transfers: Prepare Budget transfer forms when necessary.
State Active Duty: Request reimbursements on FEMA and EMAC disasters when they occur.
Supervisor: Time approver and post utilities for Accountant I.
Other Duties as assigned.