Career and Education Opportunities for Budget Analysts in Portland, Maine
Many educational and employment opportunities exist for budget analysts in the Portland, Maine area. The national trend for budget analysts sees this job pool growing by about 15.1% over the next eight years. Budget analysts generally examine budget estimates for completeness, accuracy, and conformance with procedures and regulations.
Budget analysts earn about $27 per hour or $57,760 annually on average in Maine and about $31 hourly or $65,320 yearly on average nationally. Earnings for budget analysts are better than earnings in the general category of Accounting and Auditing in Maine and better than general Accounting and Auditing category earnings nationally. Budget analysts work in a variety of jobs, including: cost accountant, cost analyst, and budget examiner.
There are five schools within twenty-five miles of Portland where you can study to be a budget analyst, among twenty-three schools of higher education total in the Portland area. Given that the most common education level for budget analysts is a Bachelor's degree, you can expect to spend about four years training to become a budget analyst if you already have a high school diploma.
CAREER DESCRIPTION: Budget Analyst
In general, budget analysts examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. They also analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
Budget analysts furnish advice and technical assistance as well as cost analysis and budget preparation. They also examine budget estimates for completeness and conformance with procedures and regulations. Equally important, budget analysts have to inspect operating budgets to analyze trends affecting budget needs. They are often called upon to confer with managers to insure that budget adjustments are made in accordance with program changes. They are expected to direct the preparation of regular and special budget reports. Finally, budget analysts perform cost-benefit analyses to compare operating programs, review financial requests, or explore alternative financing methods.
Every day, budget analysts are expected to be able to deal with basic arithmetic problems. They need to read and understand documents and reports. It is also important that they decide how to think about problems involving math.
It is important for budget analysts to seek new ways to further optimize efficiency and increase profits. They are often called upon to interpret budget directives and establish policies for carrying out directives. They also match appropriations for specific programs with appropriations for broader programs, including items for emergency funds. They are sometimes expected to analyze monthly department budgeting and accounting reports to maintain expenditure controls. Somewhat less frequently, budget analysts are also expected to testify before examining and fund-granting authorities, clarifying and promoting the proposed budgets.
And finally, they sometimes have to perform cost-benefit analyses to compare operating programs, review financial requests, or explore alternative financing methods.
Like many other jobs, budget analysts must be thorough and dependable and have exceptional integrity.
Similar jobs with educational opportunities in Portland include:
- Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
- Auditor. Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
- Business Management Analyst. Conduct organizational studies and evaluations, design systems and procedures, conduct work simplifications and measurement studies, and prepare operations and procedures manuals to assist management in operating more efficiently and effectively. Includes program analysts and management consultants.
- Cost Analyst. Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.
- Credit Analyst. Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.
- Financial Analyst. Conduct quantitative analyses of information affecting investment programs of public or private institutions.
- Financial Examiner. Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify correctness of, or establish authenticity of records.
- Income Tax Advisor. Prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.
- Loan Counselor. Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
- Loan Officer. Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
- Personal Financial Planner. Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. Duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
- Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.
EDUCATIONAL OPPORTUNITIES: Budget Analyst Training
York County Community College - Wells, ME
York County Community College, 112 College Drive, Wells, ME 04090. York County Community College is a small college located in Wells, Maine. It is a public school with primarily 2-year programs and has 1,074 students. York County Community College has an associate's degree program in Accounting which graduated one student in 2008.
University of Maine at Augusta - Augusta, ME
University of Maine at Augusta, 46 University Dr, Augusta, ME 04330-9410. University of Maine at Augusta is a small university located in Augusta, Maine. It is a public school with primarily 4-year or above programs and has 4,731 students. University of Maine at Augusta has a bachelor's degree program in Accounting which graduated ten students in 2008.
University of Southern Maine - Portland, ME
University of Southern Maine, 96 Falmouth St, Portland, ME 04103. University of Southern Maine is a large university located in Portland, Maine. It is a public school with primarily 4-year or above programs. It has 9,930 students and an admission rate of 82%. University of Southern Maine has 2 areas of study related to Budget Analyst. They are:
- Accounting, bachelor's degree and master's degree which graduated seven and seven students respectively in 2008.
- Finance, bachelor's degree which graduated 3 students in 2008.
Andover College - S Portland, ME
Andover College, 265 Western Ave, S Portland, ME 04106-2415. Andover College is a small college located in S Portland, Maine. It is a private for-profit school with primarily 2-year programs and has 1,326 students. Andover College has a one to two year and an associate's degree program in Accounting which graduated fourteen and seventy students respectively in 2008.
Saint Joseph's College of Maine - Standish, ME
Saint Joseph's College of Maine, 278 Whites Bridge Rd, Standish, ME 04084-5236. Saint Joseph's College of Maine is a small college located in Standish, Maine. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,771 students and an admission rate of 78%. Saint Joseph's College of Maine has 2 areas of study related to Budget Analyst. They are:
- Accounting, bachelor's degree which graduated 6 students in 2008.
- Finance, bachelor's degree which graduated 3 students in 2008.
Fiscal Services - Accelerated Package: Fiscal Services - Accelerated Package course list: Better Requests for Proposals for Better Projects; Continuous Improvement Through Monitoring; Contracting; New Coding System for the 21st Century; Procurement; and Writing Winning Grant Proposals.
For more information, see the Dynamic Works Institute website.
LOCATION INFORMATION: Portland, Maine
Portland is situated in Cumberland County, Maine. It has a population of over 62,561, which has shrunk by 2.6% over the last ten years. The cost of living index in Portland, 102, is above the national average. New single-family homes in Portland are priced at $164,700 on average, which is well below the state average. In 2008, twenty-three new homes were built in Portland, down from thirty-two the previous year.
The three most popular industries for women in Portland are health care, educational services, and finance and insurance. For men, it is professional, scientific, and technical services, accommodation and food services, and construction. The average commute to work is about 19 minutes. More than 36.4% of Portland residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 13.0%, is higher than the state average.
The unemployment rate in Portland is 6.3%, which is less than Maine's average of 7.6%. About 14.1% of Portland's residents are below the poverty line, which is worse than the state average.
The percentage of Portland residents that are affiliated with a religious congregation, 40.4%, is less than the national average but more than the state average. Mariners Church, Swedenborgian Church and Stroudwater Christian Church are among the churches located in Portland. The most prominent religious groups are the Catholic Church, the United Church of Christ and the United Methodist Church.
Portland is home to the Cumberland Wharf and the Browns Wharf as well as Longfellow Square and Hadlock Field. Shopping centers in the area include Mill Creek Shopping Center, Monument Square Shopping Center and Portland East Shopping Center. Visitors to Portland can choose from Motel 6, Fairfield Inn Portland Airport and Ramada Limited Portland for temporary stays in the area.