What is a budget manager and what do they do? It is the budget manager who Loyola University of New Orleans defines as anyone named as the responsible individual for an active account. They may be responsible for more than one active account. The budget manager’s responsibilities may be listed by department, agency, center, grant, or any division which has an account budget. The budget manager is fundamental to any organization that deals with finances.
The job description of a budget manager includes many facets. The budget manager is accountable for the finances of their office. Financial integrity and responsibility are held together by being careful and adhering to the budget of the particular division they are responsible for.
The Duties and Responsibilities of a Budget Manager
According to the job description of a budget manager it is the responsibility of the budget manager to maintain and manage the expenses of their office so that they do not surpass the allocated amount. These individuals make requests for budget changes, submit transfers, approve transactions, and request payments, due to their department. These transactions have to follow the protocol of the business. They are required to regularly review accounts in order to ensure they are being properly maintained.
If this individual allocates authority to another, they have to be sure that the delegate understands authority to another. In addition, they have to be sure the delegation understands the requirements for approval and is capable of making the proper and necessary judgment. The budget manager’s job description includes the fact that the budget manager is still responsible for actions taken by their delegate or delegates. If the budget manager is going to be away they have to leave a written authorization for the delegate which they have to attach to the requests.
When this signature is on a document approving transactions the budget manager is accountable for any expense. The approval also has to comply with the regulations of the organization.
Therefore, the budget manager has a lot of responsibility, not only for themselves but for the company and any employees under their watch.