State of Washington
FISCAL ANALYST 1 -HE
Class Series Concept
Positions in this occupational group conduct a variety of financial reviews and analysis of fiscal, grants, contracts or other financial data in accordance with Generally Accepted Accounting Principles (GAAP).
These are professional positions which analyze and interpret what the fiscal information means to draw conclusions and trends based upon that data. Positions determine what is the relationship between fiscal variables by generating items, choosing analysis, translating, or explaining their results and taking appropriate action based upon the analysis and interpretation of the financial data.
The majority of work assigned to professional positions does not involve verifying the accuracy of the fiscal data or the routine collection, reviewing and posting of fiscal record keeping tasks according to established procedures as contained in the office, fiscal or budget support group.
Positions throughout this occupational group often lead or supervise office, fiscal or budget support staff. However, leadworker or supervisory positions at the 3, 4 or 5 levels must perform these functions over fiscal related professional staff.
This is the entry level of the series. Positions work under close to general supervision and are required to analyze and interpret reoccurring reports produced by an automated or manual financial system. Positions often assist higher level professional staff in the design and implementation of financial systems grants or contracts. Recommends the establishment of fiscal controls and financial review to improve agency business practices.
Prepares automated or manual recurring fiscal reports in accordance with GAAP such as statements of fund balance, income statement or balance sheet on an accrual basis; maintain ledger accounts and analyze fiscal data; Develops or recommends procedures to improve fiscal operations;
Assists higher-level staff with financial summary information, analysis of financial reports and development of fiscal procedures;
Prepares trial balances and adjusting entries;
Reconciles fiscal statements and fixed assets; prepare journal vouchers reflecting expenditures and transfer of funds;
Reviews and processes vendor payment claims. Resolve problems related to accounts payables; Prepares entries to record and liquidate encumbrances;
Reviews, analyzes and interprets agency accounting and financial records and reports; Analyzes and corrects discrepancies;
Maintains and monitors the payroll system; Reconciles all payroll reports;
Makes workload assignments and establishes work schedules;
Maintains and monitors grants and contracts; assure compliance with these documents;
Establishes and maintains files of proposals for grants and contracts; provide progress reports, accumulate statistics; notify all concerned of application deadlines and ending dates;
Assists in developing and submitting grant and contract proposals, or renewals;
Positions may lead or supervise clerical, fiscal, budget or other support staff involved in a variety of manual or automated fiscal recording keeping tasks;
Prepares, reconciles and analyses general ledger entries;
Reconciles subsidizing ledgers to the general ledgers;
Access the agency financial reporting system to prepare and review fiscal documents;
Assists in a fiscal year closing of financial records;
Develops fiscal queries or reports from an existing fiscal database;
Monitors budget expenditures activities and prepares budget documents for programs;
Monitors and reviews computer input and output of financial data;
Provides recommendations for computerized financial system development which may include accounting, budgeting, and auditing work activities;
Interprets the rules and regulations adopted by OFM and GA relating to Travel. Process travel and travel related documents for the agency. These documents include individual travel reimbursements, travel advances, and Rent a Car, Corporate Visa Travel Card (Airfare), and others. Professional Financial Analyst positions do not perform these duties a majority of their time as this work is non-professional and is more appropriately found within the Fiscal Technician class;
Responsible for the collection/recovery of trust fund monies paid in error to members and retirees. Determines the proper course of action for collection of delinquent accounts. Monitors member remittances of contributions;
Maintain and monitor the payroll system. Reconcile all payroll reports. Analyze compliance with participants' authorization for withholding to the Internal Revenue Services (IRS) regulations. Prepare quarterly transfers (EFT). Input batches into AFRS;
Obtain/verify share prices daily from mutual funds. Prepare financial and statistical reports for management;
Assist in applying and adapting established accounting methods and principles. Analyze and interpret accounting records and reports and prepare reports and statements of financial data;
Reviews and processes vendor payment claims. Resolve problems related to accounts payables. Prepares entries to record and liquidate encumbrances. Reviewing, analyzing, verifying reports and correcting discrepancies as necessary;
Reviews, analyzes and interprets agency accounting and financial records and reports produced by automated and manual systems. Analyzes and corrects discrepancies. Assists in preparation of fiscal reports, and provides recommendations to management concerning overdue receivables.
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.
Positions typically require a Bachelor’s degree, which includes at least 18 quarter or 12 semester hours of accounting, auditing or budgeting. 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 3020 Accountant, 12105 Financial Analyst 1; adopted effective January 1, 2006.
Spelling error in class series concept, corrected; effective June 19, 2009.