Forecasting/Budget Analyst

University of Massachusetts - Amherst, MA

Full-time

Amherst, MA

Educational Services

About the position

The Budget Analyst at UMass Amherst plays a crucial role in analyzing current and projected financial activities across various operations and funding sources within the university. This position is integral to supporting the campus budget process, utilizing the UMPlan budget model, and culminating in financial presentations to senior leadership. The analyst is responsible for monitoring and reporting on budget variances, ensuring effective communication with financial staff throughout the campus. In this role, the analyst will monitor and forecast budget activity for campus operations, preparing detailed reports and communications regarding actual balances and variances for managers and campus departments. This includes the allocation of department budgets for initial year budgets, carryover budget balances, and additional budget requests throughout the year. The analyst will verify budgets to be allocated, calculate appropriate amounts, and recommend suitable funding sources and departments for transfers. This task also involves documentation, tracking, and periodic reporting. The analyst will prepare complex reports that involve data retrieval through queries and dashboards, interpreting data to forecast and verify results, and addressing inquiries from departments and senior management. A solid understanding of accounting principles is essential, as the analyst will evaluate the impact of transactions on campus financial ratios. Additionally, the analyst will monitor the appropriate expenditure of state and tuition funds each fiscal year and assist with the campus annual budget process, including training and supporting campus users of the UM Plan budget system. The role also includes providing support to department budget managers and Executive Financial Officers by explaining budget allocations, monthly reports, and budget office policies. The analyst will work collaboratively with the Controller's Office and campus departments to resolve budget-related issues, ensuring that the university's financial goals and objectives are met.

Responsibilities

• Monitor and forecast budget activity for campus operations.
• Prepare reports and communications on actual balances and variances to managers and campus departments.
• Allocate department budgets for initial year budgets, carryover budget balances, and additional budget requests during the year.
• Verify budgets to be allocated, including calculation of appropriate amounts and determining/recommending appropriate funding sources.
• Prepare complex reports including data retrieval via queries and dashboards, and interpret data to forecast and verify results.
• Monitor appropriate expenditure of state and tuition funds each fiscal year.
• Assist with the campus annual budget process including training campus users and providing support for department users.
• Assist with the revenue operation budget process including annual budget preparation and approval, and periodic monitoring and reporting on budget status.
• Provide support to department budget managers and Executive Financial Officers, explaining budget allocations and reports.
• Work with the Controller's Office and campus departments to resolve budget problems.

Requirements

• Bachelor's degree in business, finance, accounting or a related field.
• More than 3 years of experience in budgeting or financial analysis.
• Excellent customer service skills.
• Ability to communicate effectively both orally and in writing.
• Proficient in microcomputer applications (spreadsheets, word processing, graphics, etc.).
• Ability to create reports and queries from an enterprise management system like PeopleSoft.
• Knowledge of basic accounting and budgeting principles.
• Ability to work as part of a team.
• Exceptional organizational skills.

Nice-to-haves

• Master's degree in business, finance, accounting or a related field.