Career and Education Opportunities for Budget Analysts in Lubbock, Texas
Budget analysts can find both educational opportunities and jobs in the Lubbock, Texas area. There are currently 4,240 working budget analysts in Texas; this should grow 18% to about 5,000 working budget analysts in the state by 2016. This is better than the national trend for budget analysts, which sees this job pool growing by about 15.1% over the next eight years. In general, budget analysts examine budget estimates for completeness, accuracy, and conformance with procedures and regulations.
Budget analysts earn approximately $30 hourly or $63,200 annually on average in Texas. Nationally they average about $31 hourly or $65,320 annually. Incomes for budget analysts are better than in the overall category of Accounting and Auditing in Texas, and better than the overall Accounting and Auditing category nationally. People working as budget analysts can fill a number of jobs, such as: accounting supervisor, controller, and cost analyst.
The Lubbock area is home to nine schools of higher education, including two within twenty-five miles of Lubbock where you can get a degree as a budget analyst. Given that the most common education level for budget analysts is a Bachelor's degree, you can expect to spend about four years studying 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 Lubbock 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.
- Assessor. Appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
- 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 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.
- Real Estate Appraiser. Appraise real property to determine its value for purchase, sales, or loan purposes.
- Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.
EDUCATIONAL OPPORTUNITIES: Budget Analyst Training
Texas Tech University - Lubbock, TX
Texas Tech University, Broadway and University Avenue, Lubbock, TX 79409-5005. Texas Tech University is a large university located in Lubbock, Texas. It is a public school with primarily 4-year or above programs. It has 28,422 students and an admission rate of 72%. Texas Tech University has 2 areas of study related to Budget Analyst. They are:
- Accounting, bachelor's degree and master's degree which graduated eighteen and sixty-two students respectively in 2008.
- Finance, bachelor's degree which graduated 19 students in 2008.
Lubbock Christian University - Lubbock, TX
Lubbock Christian University, 5601 19th Street, Lubbock, TX 79407-2099. Lubbock Christian University is a small university located in Lubbock, Texas. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,868 students and an admission rate of 67%. Lubbock Christian University 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 7 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: Lubbock, Texas
Lubbock is situated in Lubbock County, Texas. It has a population of over 220,483, which has grown by 10.5% over the last ten years. The cost of living index in Lubbock, 79, is well below the national average. New single-family homes in Lubbock are priced at $171,700 on average, which is below the state average. In 2008, nine hundred twenty-nine new homes were constructed in Lubbock, up from eight hundred eighty the previous year.
The top three industries for women in Lubbock are health care, educational services, and accommodation and food services. For men, it is educational services, construction, and accommodation and food services. The average commute to work is about 16 minutes. More than 26.6% of Lubbock residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 9.3%, is higher than the state average.
The unemployment rate in Lubbock is 5.3%, which is less than Texas's average of 8.1%.
The percentage of Lubbock residents that are affiliated with a religious congregation, 59.7%, is more than both the national and state average. Pentecostal Holiness Church, Philia Temple Church of God and Christ and Pilgrim Baptist Church are all churches located in Lubbock. The most common religious groups are the Southern Baptist Convention, the Catholic Church and the United Methodist Church.
Lubbock is home to the South Overton Residential Historic District and the Kress Building as well as Lowery Field and Rocky Johnson Field. Visitors to Lubbock can choose from Barcelonacourt of Lubbock, Circus Inn and Carriage House Inn & Suites for temporary stays in the area.