Who is a Budget Officer? | What are his Duties or Functions?
Who is a Budget Officer?
Budget Officer is a head of Budgetary Control Organization. He/she may be otherwise called as the Budget Director or Budget Controller. He/She receives authority directly from the Chief Executive of an organization. Likewise, he/she is fully answerable and responsible to the Chief Executive. The main duty of the budget officer is bringing coordination among the line managers to execute the budgets.
Duties (or) Functions of Budget Officer
The duties or functions of budget officer are briefly listed below
1. He creates co-ordination among the line managers and gives guidelines for all matters relating to budgets.
2. He acts as a secretary of budget committee.
3. He revises and amends the budget manual as and when required.
4. He advises the budget committee on all budget matters.
5. He prepares the budget programme and issue instructions to each line managers for proper execution of each budgets.
6. He has to design and recommend essential forms, schedules and reports necessary in the budget procedures.
7. He has to supply full information regarding the preparation of budgets to line managers and impact of one budget on another on preparation of their budgets.
8. He receives and scrutinizes the budgets, which are received from the line managers and revise them if necessary.
9. He has to prepare summary budget.
10. He has to open discussion among the line managers with proposed requirements of every department and over all budgets with budget committee.
11. He has to submit the budgets before the budget committee.
12. He has to place the revised budgets before the Board of Directors for final approval.
13. He seeks approval from the line managers for revised budget.
14. He provides appropriate segments of master budget to line managers.
15. He collects actual cost data from cost office and compares it with budgeted figures and records the same in the budget report.
16. He submits a budget report before budget committee.
17. He has to prepare the special reports that are required by the chief executive.
18. He maintains a close link between the accounting records and budget.
19. He conveys the decisions and recommendations of the budget committee to the line managers.
20. He has to review the budget manual regularly and make such modifications to improve the administration of budgetary control.
