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State of Washington Classified Job Specification

FISCAL ANALYST 5

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FISCAL ANALYST 5
143M
Category: Financial Services

Definition

Positions at this level may be found in a variety of different organizational settings performing one the following options. Note:  Positions allocated under options 1, 2, or 3 are not required to lead or supervise fiscal related professional staff to qualify under these criteria.

  1. Functions as the Chief Financial Accountant for a state agency;
  2. Serves as a Principle Assistant or Primary Financial Advisor to Fiscal Manager in Washington Management or Exempt Service; a Fiscal Manager is defined as a position responsible for an entire agency's fiscal operations.  To be considered a Fiscal Manager, a position would have to report to the divisional level in the agency.

  3. Functions as the highest agency statewide expert in a financial specialty area;

  4. Functions as a second line Fiscal Supervisor over a fiscal related supervisor with fiscal related professional staff; 

Plans, organizes, supervises and conducts the accounting, budgeting, and business activities for a higher education institution.

Typical Work

Supervises a fiscal supervisor with fiscal related professional staff performing fiscal, grant or contractual reviews and analysis in accordance with Generally Accepted Accounting Principles [GAAP]; 

Prepares budget and allotment requests and justifications; determine work load indicators and verify adequacy of supporting data; 

Revises, formulates, and installs systems and procedures pertaining to accounting, business management and other areas supervised; 

Serves as division head of the fiscal-business management activity for an agency where complexity is increased by such factors as diversity of accounts, federal and other funds; 

Responsible for agency business management activities such as procurement, stores, rentals, leases, office services, transportation and travel, inventory and related administrative functions; 

Provides management with status of accounts, both actual and projected, together with analysis and recommendations pertaining to activity costs and revenues; 

Acts as Chief Accountant of a State agency, incumbents function as the Chief Agency Financial Officer and are responsible for all fiscal or financial transactions;

Serves as Principal Assistant or Primary Financial Advisor to a Fiscal Manager of a State agency, a fiscal manager is defined as a position responsible for an entire agency's fiscal operations. To be considered a fiscal manager, a position would have to report to the divisional level in a State Agency;

Analyzes complex financial and statistical data and determine their significance; prepare comprehensive narrative statements supporting complex financial reports;

Serves as the primary financial analyst for an operating division; responsible for budgetary, fiscal and profitability analysis regarding the needs, activities, costs and revenues associated services provided to customers. Consolidates and reconciles the assigned division's business plan, biennial budget, allotments and related activities;

Responsible for coordinating agency-wide budget and allotment; rate management; quarterly review; financial analysis;

Plans, develops and implements fiscal programs designed to enhance effectiveness, control expenditures, provide needed services, and assure conformance with the laws and public policies;

Advises management in business planning; develops financial portion of the Division Business Plan and participates in the consolidation of the Department Business Plan;

Responsible for the agency purchasing activities; this includes agency-wide ordering of supplies, monitoring contract disbursements, equipment purchasing and inventory;

Analyzes complex financial and statistical data, and complex financial reports. Ensures proper accounting techniques and controls are used. Develops testing procedures;

Reviews, analyzes and prepares replies to Legislative Fiscal Notes;Develops and maintains financial models for the determination of unit cost of services, conducting break-even analyses, setting profit center contribution margins, analyzing and forecasting cash flow, evaluation of investments and measuring financial condition;

Manages the central accounting service activities for an agency. Supervises professional accounting, budgeting/auditing staff involved in the tracing and monitoring of all agency expenditures and revenues, funds management, accounting reports and statements, and development of new/modified accounting systems;

Establishes and maintains agency's accounting systems and controls to meet standards; evaluates these systems and makes modifications as needed;

Reviews all financial status reports, monthly and quarterly, both State and Federal;Prepares annual financial report for OFM; reconciles and closes funds at the end of the biennium, and prepares carry forward balances in the automated AFRS System;

Reviews fiscal processing systems and functions; makes recommendations for changes and works with DOP, DIS and OFM in implementing changes;

Tracks, monitors, evaluates, analyzes, and implements State and Federal reports and statements, funds management, financial systems development and analysis, inventory accounting, cost allocation, revenue analysis, control and reconciliation;

Analyzes GAAP standards impact on financial data and recommends procedural or system changes as required;

Functions as a designated OFM technical expert in statewide accounting policies and procedures (i.e., travel, statewide accounts, statewide accounts payable, receivables or electronic funds transfer (EFT) systems;

Prepares budget development guidelines and procedures consistent with program objectives, department policy and OFM budget instructions;

Prepares detailed budgets and supporting data for major subprograms or organizational elements of the department for the legislative budget request for dollars and FTE's, analyzing and evaluating allocations vs. expenditures;

Maintains computerized financial systems for the development and reporting of the department's appropriations, allotments, allocations, and expenditures;

Analyzes current revenues and projected funding needs, develops future funding scenarios, drafts state legislation for new state revenues, consults with OFM on new revenue needs, and develops computer models to show the impacts of various revenue proposals;

Provides financial consultation and advice to the division's directors and managers. Develops budget, fiscal and profitability analysis for business planning and rate establishment associated with information technology and telecommunications services provided to customers in a full accrual, proprietary fund environment; 

Recommends, schedules and performs internal audit functions for the agency; Respond, research, and resolve agency inquiries on IRS penalty letters, fringe benefits questions, and other payroll related issues. Develop a tracking system that interfaces this information into the payroll training material;

Assists in the collection and compilation of statewide financial information; 

Participates in the instruction of OFM training classes responsible to prepare lesson plans, classroom aids, and handout materials and conduct training;

Analyzes expenditure and revenue data at the sub-program, appropriation, object and major group/source level within and between TRAINS and AFRS accounting systems to ensure timely and accurate reporting of financial data;

Responsible for the integrity of information in the Transportation Asset Reporting System (TARTS) and for information reported in the State Reporting System (SARS) for the agency;

Analyzes transportation financial information for use in revenue forecasting, expenditure monitoring, bond sales and debt service management, and interfund revenue transfers;

Coordinates accounting policy with institutional policy and activities; provides continuing data processing support to include the development and implementation of required policy changes and procedures; 

Coordinates with department heads, division chiefs and other institutional administrative officials on accounting policy and procedures; determine methods and procedures where required.

Legal Requirement(s)

There may be instances where individual positions must have additional licenses or certification. It is the employer’s responsibility to ensure the appropriate licenses/certifications are obtained for each position.

Desirable Qualifications

Positions typically require a Bachelor’s degree, which includes 18 quarter or 12 semester hours in accounting, auditing, or budgeting and four to five years of relevant professional experience.  Professional experience may substitute for education but not usually for the credit hours.A Master’s degree in a financial related field, certification as a Public Accountant, Internal Auditor, Certified Governmental Financial Manager or Management Accountant can be substituted for professional experience.

Class Specification History

New class consolidates 3028 Agency Accounts Officer I, 3029 Agency Accounts Officer II, 12109 Financial Analyst 5; adopted effective January 1, 2006.
(1/8/2009) Corrected two spelling errors in definition body text; Manger versus Manager.
Base range salary adjustment adopted 6/13/2019, effective 7/1/2019.

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