FINANCIAL PLANNING: 30%
The incumbent supervises the budget work for allotments, independently formulating the annual and mid-year budget submissions. Budgets are submitted in format requirements in the various functional activities under each allotment. Provides advice on budget submission requirements, including historical performance financial projections and justification for requested resource levels. Analyzes past fiscal year funding levels to determine new fiscal requirements estimates costs for new program requirements. Analyzes recurring program costs and monitors non-recurring costs. Analyzes and tracks exchange rate gains and losses and is responsible for adjusting budgets to reflect dollar differences. This person prepares budgetary reports on above allotments as requested by post management and Washington.
Fully responsible for formulation of annual budgets for all post-held accounts and allotments. Incumbent uses appropriate software, cable instructions, and guidance from the current Mission Strategic Goals, Mission Resource Request, ICASS Handbook, Foreign Affairs Manual (FAM), and the Foreign Affairs Handbook (FAH), in addition to any institutional/historical data. When preparing these budgets, incumbent communicates with Senior Post Management and functional officers, as applicable, to obtain information on their anticipated requests/needs/ priorities and any other special issues having an impact on financial resources. In addition, incumbent analyzes post/economic trends, researches allowances for eligible employees, and projects estimated out-year cost implications due to documented anticipated wage/price increases, anticipated/approved changes in Embassy operations (e.g. mission growth), and unfunded priorities.
During the fiscal year, incumbent monitors proposed budgeted amounts against actual costs and monitors unanticipated spending trends. On a monthly basis or more frequently, prepares summary worksheets for all three allotments to keep other agency management officials abreast of their financial situation. As part of an on-going analysis, incumbent makes recommendations for cost savings where possible, reallocates funds as necessary and changes report format as appropriate to better meet other agencies’ needs.
With collaboration of staff, the incumbent ensures that allotments provided by Washington are controlled and executed within funding limitations. Ensures that accurate and complete fiscal data is recorded on all funding requests. Ensures availability of funds, after analyzing and reviewing the Global Financial Services (GFS) accounting reports, COAST reports, and subsidiary accounting ledgers. This includes ensuring obligations exist prior to initiating payment and making adjustments to obligations after reviewing 60 and 62 reports. Monitors and analyzes apparent trends in obligations, in anticipation of reprogramming requirements. Proposes plans for minor reprogramming when deviations from original budget estimates are necessary because of significant changes in operating programs. Periodically reconciles accounting records and confirms the accuracy of obligations and expenditures against financial plans.
Develops and prepares official monthly, quarterly and annual reports by allotment and sub-object status using 60 and 62 reports to ensure funds are in balance with GFS accounting records. Takes corrective action immediately when errors are discovered. Periodically reconciles accounting records and confirms the accuracy of obligations and expenditures against financial plans.
SUPERVISORY RESPONSIBILITIES: 30%
Supervises four budget analysts responsible for the financial planning and account management of twenty-one different funding streams totaling approximately $50 million. Responsible for daily direct supervision of the entire budget lifecycle from budget preparation and obligation to end-of-fiscal year budget close out. Ensures that budget analysts prepare budget submissions in accordance with appropriate USG laws and regulations and receive appropriate agency input. Reviews and corrects initial and final budgets as required prior to presenting to FMO for final approval.
Serves as primary supervisory point of contact for all agency reps when additional information or explanation is needed regarding accounting entries. Where applicable resolves any questions/conflicts with customers prior to elevating to FMO for review. Exercises sound judgment in flagging complex and difficult issues for the FMO/Financial Specialist as needed.
Regularly reviews the knowledge levels of staff and provides input to FMO/Financial Specialist on training required to meet the section’s needs. Provides in-house, hands-on training as required and ensures that all staff take training as determined by the annual training schedule.
OTHER DUTIES AS ASSIGNED: 5%