Budget Analysts evaluate budget proposals to determine the optimal allocation of project funds. Duties and Responsibilities of a Budget Analyst. They are responsible for reviewing budget proposals and requests for funding, evaluating spending needs, and conducting cost-benefit analyses, among other duties.
Budget Analysts are well-versed in statistical modeling and are expert mathematicians. Beyond their quantitative skill set, they also need to petition and persuade management to approve their requests, requiring good communicative and interpersonal skills.
Budget Analyst Duties:
- Provide financial analysis and guidance to support decision making
- Analyze, compare, and evaluate economic, financial, marketing, and other trends, problems, and opportunities
- Create financial plans and strategies to help determine the company’s financial status
- Raise and measure the performance of the company’s financial functions
- Generate financial reports and monitor financial reports against budget and projections
- Maintain budgets and records of expenditures and revenues
- Create reports in support of decision making
Budget Analyst Responsibilities:
- Review and analyze existing budgets, internal controls, and policies to identify any inefficiencies
- Create budget plans for new financial initiatives
- Evaluate reports and make recommendations for future action
- Create budget presentations, project plans, and reports
- Manage cost controls
- Review and approve budgets
- Manage cash flow