Compiles, analyzes and summarizes probable financial income and expenditures, and allocates funds for a specific purpose within a given time frame.
- Develops models or projections by studying past results, relationships, and data to anticipate future trends and events.
- Serves as an advisor and assistant in budget formulation, presentation, and execution services and documentation.
- Considers timing/milestones in the budget cycle; recognizes differences in fund sources and types (e.g., appropriated, non-appropriated/gift funds), and applies established SOPs.
- Provides estimates for proposed new initiatives and other projects and prepares appropriate supporting justifications, explaining relationship to organizational goals and objectives.
- Identifies need for an inter-agency, intra-agency (IAA) or cooperative research and development agreement (CRADA) / renewal, or memorandum of understanding (MOU).
- Facilitates strategic, operational or programmatic resource decisions.
- Researches and resolves discrepancies in budget information.
- Enters, manages, and maintains/updates data in a timely and accurate manner to support the Federal and NIH budget processes, utilizing applicable resources.
- Ensures that data in accounting and financial management systems are current.
- Discusses the purpose and benefit of budgeting.
- Explains the planning and control functions of revenue budgeting.
- Applies strategies to analyze financial statements and uses related information in budget preparation.
- Uses guidelines for establishing effective budget objectives.
- Demonstrates knowledge of various types of budgets (e.g., program based, fixed budget).
- Identifies the appropriate budgeting strategy for the applicable situation.
- Explains complex budgeting calculations (i.e., pricing indexes).
- Gathers information on prior year(s) spending, projected funding/resource needs (i.e., salaries/benefits; capital, operating and other expenses) and budget priorities to facilitate timely development of budget requests and supporting justifications.
- Helps determine priorities and weigh alternative strategies.
- Prepares budget based on direction from budget and finance.
Developmental opportunities for this competency are available from the NIH Training Center.