RACC Main Title

Summary: 

The Budget Officer is responsible for coordinating the development, administration, and monitoring of the College's operating and capital budgets to support the institution's strategic and financial objectives. This position provides financial analysis, forecasting, and budget reporting to assist senior leadership in making informed decisions. Working collaboratively with departments across the College, the Budget Officer ensures compliance with applicable policies, governmental regulations, and reporting requirements while promoting effective stewardship of institutional resources.

Working Hours: 

Specific work hours to be agreed upon by the supervisor and employee prior to the onset of employment.

Critical Success Factors:

• Financial Analysis and Budgeting Expertise
• Analytical and Problem-Solving Skills
• Communication and Collaboration
• Attention to Detail and Accuracy
• Strategic Thinking and Continuous Improvement

Essential Duties and Responsibilities:

Budget Planning and Development

• Coordinate the development of the College's annual operating and capital budgets. 
• Prepare budget guidelines, timelines, and instructions for departments. 
• Work collaboratively with department managers to develop realistic budget requests. 
• Analyze historical expenditures, enrollment trends, and revenue projections. 
• Prepare multi-year financial forecasts and budget models. 
• Ensure budget recommendations align with the College's strategic plan and Board priorities. 
• Assist with long-range financial planning and sustainability initiatives. 

Budget Administration

• Monitor departmental budgets throughout the fiscal year. 
• Review budget transfers and adjustments for accuracy and compliance. 
• Maintain the College's budget system and chart of accounts. 
• Analyze budget-to-actual variances and identify significant trends. 
• Recommend corrective actions when revenues or expenditures differ from projections. 
• Ensure appropriate budget controls are maintained. 
• Monitor position budgets and salary allocations in coordination with Human Resources and Payroll. 

Financial Analysis

• Prepare monthly, quarterly, and annual budget reports as required.
• Develop financial dashboards and key performance indicators. 
• Analyze enrollment, tuition revenue, state appropriations, grants, and auxiliary operations. 
• Evaluate financial impacts of new programs and initiatives. 
• Conduct cost-benefit analyses for proposed projects and operational changes. 
• Provide financial modeling to support executive decision-making. 

Reporting

• Prepare budget reports for senior leadership and the Board of Trustees. 
• Assist in preparing reports required by the Pennsylvania Department of Education and other governmental agencies. 
• Compile financial information for annual audits. 
• Support preparation of the Annual Financial Report. 
• Assist with reports required for grants and restricted funding. 

Capital and Debt Planning

• Assist in developing the annual capital budget. 
• Monitor capital project budgets and expenditures. 
• Track debt service requirements and funding sources. 
• Prepare financial analyses related to capital improvement projects. 
• Assist with financing plans and capital project reporting. 
• Complete and submit capital applications through the Pennsylvania Department of Education (PDE).

Policy and Compliance

• Ensure compliance with College policies, Board policies, and applicable federal and Pennsylvania regulations. 
• Assist in developing and maintaining budget policies and procedures. 
• Support internal controls related to budgeting and financial reporting. 
• Maintain documentation supporting budget decisions and adjustments. 

Collaboration

• Serve as a financial resource to department administrators. 
• Train budget managers on budget procedures and financial reporting tools. 
• Work closely with the Controller, Finance Office, Human Resources, Purchasing, and other administrative departments. 
• Participate on College committees as assigned. 
• Support strategic planning initiatives through financial analysis. 

Technology and Systems

• Maintain and utilize budgeting software and financial information systems. 
• Develop spreadsheets, financial models, and automated reporting tools. 
• Recommend system improvements to enhance budgeting efficiency. 
• Ensure data integrity within budgeting and financial systems. 

Continuous Improvement

• Identify opportunities to improve budgeting processes. 
• Research best practices in higher education budgeting. 
• Recommend process improvements that increase efficiency and transparency. 
• Participate in professional development and remain current on higher education finance trends and governmental accounting standards. 

Other Duties

• Assist with special financial studies and projects. 
• Support annual audit activities by providing requested documentation and analyses. 
• Perform other duties as assigned by the Senior Vice President for Finance and Administration.

Supervisory Responsibilities:

This position currently has no direct supervisory responsibilities, but may assume supervisory responsibilities in the future as organizational needs evolve. Future supervisory responsibilities would include interviewing, recommending for hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems. 

Qualifications:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.  The requirements listed below are representative of the knowledge, skill, and/or ability required.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and/or Experience:

Required:

• Bachelor’s degree in Accounting, Finance, Business Administration, Economic, Public Administration, or a closely related field.
• Minimum of three (3) to five (5) years of progressively responsible experience in budgeting, financial analysis, accounting, or financial planning.
• Experience developing and administering operating and capital budgets.
• Experience preparing financial reports, forecasts, and variance analyses.

Preferred:

• Master’s degree in Business Administration (MBA), Finance, Accounting, Public Administration (MPA), or a related field.
• Experience in higher education, preferably at a community college or other public institution.
• Experience with governmental or fund accounting.
• Experience with state appropriations and restricted funds.
• Knowledge of Commonwealth of Pennsylvania budgeting and reporting requirements.
• Experience supporting annual audits and regulatory reporting.
• Experience with strategic financial planning and multi-year budget forecasting.

 Computer Skills:

To perform this job successfully, an individual should have knowledge of Accounting software; Database software; Internet software; Order processing systems; Spreadsheet software and Word Processing software. Familiarity with higher education accounting software or ERP software is a plus.

Other Skills and Abilities:

Strong interpersonal skills that produce effective communication with other College personnel while maintaining a harmonious relationship.

Communication Skills:

Ability to read, analyze and interpret common technical journals, financial reports, and legal documents. Respond to common inquiries or complaints from customers, regulatory agencies, or members of the business community.  Effectively present information to top management, public groups, and/or boards of directors.

Mathematical Skills:

Ability to work with mathematical concepts such as probability and statistical inference.  Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.

Reasoning Ability:

Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.

Physical Demands:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to talk or hear. The employee is frequently required to stand, to sit and to reach with hands and arms. The employee is occasionally required to walk and stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 25 pounds.

Work Experience:

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.  The noise level in the work environment is usually moderate.

FOR ANNUAL SECURITY AND CRIME STATISTICS REPORTS:

https://www.racc.edu/about-racc/clery