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Budgets: What Every Program Manager Must Know

Budgets: What Every Program Manager Must Know. Traci Farmer Financial Manager The Chickasaw Nation. Daily Operation of the Program Financial Management Budget Preparation. OMB: Assists with budget preparation and overall consolidation of budgets

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Budgets: What Every Program Manager Must Know

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  1. Budgets: What Every Program Manager Must Know Traci Farmer Financial Manager The Chickasaw Nation

  2. Daily Operation of the Program Financial Management Budget Preparation OMB: Assists with budget preparation and overall consolidation of budgets Monitors program compliance and reporting Finance Accounting and recording for the program Prepares financial report for agencies Organizational Structure Division of Aging Division of Treasury

  3. Ongoing Financial Management • Program directors have access to monthly budget-to-actual report (function report) and detailed trial balances • Monthly or quarterly meetings with Accountant assigned to their program • OMB available for assistance with budget revisions

  4. Function Report

  5. Annual Budget Cycle • Chickasaw Nation’s fiscal year Oct 1 – Sep 30 • OMB begins budget preparation in November for the following year • Final budgets are due to OMB by February 1st

  6. Budget Process/Detail • OMB prepares an estimate budget total that is sent to each program • Program directors prepare detailed budget (not to exceed the amount provided by OMB) • Budget detail includes Salaries, Fringe Benefits, Retirement, travel, supplies, leases, and equipment

  7. Budget Process/Detail • Salaries include an allowance for expected raises and are maintained in a position control by position. • Positions are budgeted/tracked by position not by individual.

  8. Budget Process/Detail • Fringe benefits and taxes are calculated based on the rate OMB gives to the departments • Travel is justified based on the positions, an required continuing educations or conferences required by a grant

  9. Budget Process/Detail • Supplies, leases or other operational expenses are calculated based on a review of prior year actual expenses, with consideration for any one time expenses • Equipment is requested on a need basis with adequate justification • Any overhead or Indirect Cost charged to a federal program is included in the budget

  10. Questions? Contact Information Traci Farmer 515 E. Arlington Ada, OK 74820 Phone: (580) 559-0518 Fax: (580) 436-7257 Email: traci.farmer@chickasaw.net

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