Career and Education Opportunities for Budget Analysts in Rochester, Minnesota
Rochester, Minnesota provides a wide variety of opportunities, both career and educational, for budget analysts. About 270 people are currently employed as budget analysts in Minnesota. By 2016, this is expected to grow by 4% to about 290 people employed. This is not quite as good as the national trend for budget analysts, which 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.
The income of a budget analyst is about $30 hourly or $63,990 per year on average in Minnesota. In the U.S. as a whole, their income is about $31 per hour or $65,320 per year on average. Compared with people working in the overall category of Accounting and Auditing, people working as budget analysts in Minnesota earn more. They earn more than people working in the overall category of Accounting and Auditing nationally. Jobs in this field include: chief financial officer , fiscal officer, and budget coordinator.
There are three schools within twenty-five miles of Rochester where you can study to be a budget analyst, among seven schools of higher education total in the Rochester area. The most common level of education for budget analysts is a Bachelor's degree. It will take about four years to learn to be 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 Rochester 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 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.
- Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.
EDUCATIONAL OPPORTUNITIES: Budget Analyst Training
Rochester Community and Technical College - Rochester, MN
Rochester Community and Technical College, 851 30th Ave SE, Rochester, MN 55904-4999. Rochester Community and Technical College is a medium sized college located in Rochester, Minnesota. It is a public school with primarily 2-year programs and has 5,977 students. Rochester Community and Technical College has an associate's degree program in Accounting which graduated one student in 2008.
Minnesota School of Business - Rochester, MN
Minnesota School of Business, 2521 Pennington Drive NW, Rochester, MN 55901. Minnesota School of Business is a small school located in Rochester, Minnesota. It is a private for-profit school with primarily 4-year or above programs and has 745 students. Minnesota School of Business has one to two year, associate's degree, and bachelor's degree programs in Accounting which graduated three, ten, and three students respectively in 2008.
Riverland Community College - Austin, MN
Riverland Community College, 1900 8th Ave NW, Austin, MN 55912-1473. Riverland Community College is a small college located in Austin, Minnesota. It is a public school with primarily 2-year programs and has 3,068 students. Riverland Community College has an associate's degree program in Accounting which graduated seven 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: Rochester, Minnesota
Rochester is located in Olmsted County, Minnesota. It has a population of over 100,413, which has grown by 17.0% in the past ten years. The cost of living index in Rochester, 79, is well below the national average. New single-family homes in Rochester are priced at $233,700 on average, which is below the state average. In 2008, two hundred eighty-seven new homes were constructed in Rochester, down from four hundred twenty the previous year.
The three big industries for women in Rochester are health care, educational services, and accommodation and food services. For men, it is health care, computer and electronic products, and construction. The average commute to work is about 15 minutes. More than 38.1% of Rochester residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 15.5%, is higher than the state average.
The unemployment rate in Rochester is 5.8%, which is less than Minnesota's average of 7.0%.
The percentage of Rochester residents that are affiliated with a religious congregation, 61.7%, is more than both the national and state average. Faith Family Church, Faith Harbor Church and Saint Francis Catholic Church are all churches located in Rochester. The most common religious groups are the Catholic Church, the Evangelical Lutheran Church in America and the Lutheran Church.
Rochester is home to the Soldiers Field Golf Course and the Guggenheim Building as well as Mohn Park and Manor Park. Shopping centers in the area include Apache Mall, Miracle Mile Shopping Center and Crossroads Shopping Center. Visitors to Rochester can choose from Best Western, Maria's and Econo Lodge Downtown for temporary stays in the area.