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What does a fiscal manager do?

Updated January 8, 2025
8 min read

A fiscal manager supervises branch inventory project design to reinforce inventory levels by implementing the newest procedures and installation of software. A part of his/her or her duties and responsibilities are to execute all bookkeeping payroll functions which include employee pay adjustment processing and electronic deposits. Fiscal managers provide general oversight of monetary reporting and auditing of subcontract agencies to make sure fiscal compliance with contractual and funder requirements. They maintain individual files for every vendor or subcontractor invoices, analyze and archive vendor statements and solve billing discrepancies.

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Fiscal manager responsibilities

Here are examples of responsibilities from real fiscal manager resumes:

  • Manage the annual audit process; working with auditors to ensure programs compliance and GAAP.
  • Manage accounting operations, accounting close, account reporting & reconciliations.
  • Manage bank reconciliations, financial analysis, and monthly reporting, ensuring accuracy and completeness of data.
  • Coordinate annual audit with CPA firm.
  • Close financial activity and prepare monthly financial statements in accordance with GAAP.
  • Provide general oversight of financial reporting and auditing of subcontract agencies to ensure fiscal compliance with contractual and funder requirements.
  • Enter employees' information in Kronos and PeopleSoft and keep track of employees' accumulate leave; supervise and evaluate staff.
  • Process bi-weekly payroll transactions via ADP system and monitor salary expenditures.

Fiscal manager skills and personality traits

We calculated that 8% of Fiscal Managers are proficient in Fiscal Management, Payroll Taxes, and General Ledger. They’re also known for soft skills such as Analytical skills, Communication skills, and Detail oriented.

We break down the percentage of Fiscal Managers that have these skills listed on their resume here:

  • Fiscal Management, 8%

    Attend advanced educational trainings to maintain personal and agency expertise in fiscal management.

  • Payroll Taxes, 6%

    Processed checks for garnishments, child support, IRS levies, and payroll taxes.

  • General Ledger, 5%

    Reconcile project-to-date expenditures between the university and the Accounting system to ensure accuracy on the sub-ledger and general ledger.

  • Federal Regulations, 4%

    Monitor community service contracts and assign related department codes to meet federal regulations compliance.

  • Fiscal Policies, 4%

    Supervised the office procurement card to ensure proper usage per fiscal policies.

  • Journal Entries, 4%

    Reconciled GL accounts, procurement card, reviewed revenue/expense entries to insure appropriate classification and prepared adjusting journal entries.

Most fiscal managers use their skills in "fiscal management," "payroll taxes," and "general ledger" to do their jobs. You can find more detail on essential fiscal manager responsibilities here:

Analytical skills. The most essential soft skill for a fiscal manager to carry out their responsibilities is analytical skills. This skill is important for the role because "to assist executives in making decisions, financial managers need to evaluate data and information that affects their organization." Additionally, a fiscal manager resume shows how their duties depend on analytical skills: "create and monitor organization and program budget including revenues, expenditures, forecasting, cash flow projections and analysis. "

Communication skills. Another soft skill that's essential for fulfilling fiscal manager duties is communication skills. The role rewards competence in this skill because "financial managers must be able to explain and justify complex financial transactions." According to a fiscal manager resume, here's how fiscal managers can utilize communication skills in their job responsibilities: "implemented sage crm, maximizing business optimization and communications thus increasing the company s efficiency and revenues. "

Detail oriented. Another skill that relates to the job responsibilities of fiscal managers is detail oriented. This skill is critical to many everyday fiscal manager duties, as "in preparing and analyzing reports, such as balance sheets and income statements, financial managers must be precise and attentive to their work in order to avoid errors." This example from a resume shows how this skill is used: "prepare and monitor detailed financial reports for executive management and government-sponsored programs. "

Math skills. For certain fiscal manager responsibilities to be completed, the job requires competence in "math skills." The day-to-day duties of a fiscal manager rely on this skill, as "financial managers need strong skills in certain branches of mathematics, including algebra." For example, this snippet was taken directly from a resume about how this skill applies to what fiscal managers do: "conduct timely cash flow analysis, cash forecasting, and quantitative scenario analysis perform ad hoc financial analysis. "

Organizational skills. Another common skill required for fiscal manager responsibilities is "organizational skills." This skill comes up in the duties of fiscal managers all the time, as "because financial managers deal with a range of information and documents, they must have structures in place to be effective in their work." An excerpt from a real fiscal manager resume shows how this skill is central to what a fiscal manager does: "prepare and review organizational financial statements and present to senior management. "

Most common fiscal manager skills

The three companies that hire the most fiscal managers are:

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Compare different fiscal managers

Fiscal manager vs. Manager finance planning and analysis

A manager finance planning and analysis oversees the daily operations of a company's financial planning department. They typically have administrative duties such as setting goals and guidelines, establishing timelines and budgets, delegating tasks among teams and staff, and reviewing financial reports regularly. They also perform research and assessments, gather and analyze financial data from different departments, coordinate staff, and solve issues and concerns when any arise. Additionally, as a manager, they must lead and empower staff to reach goals while implementing company policies and regulations.

If we compare the average fiscal manager annual salary with that of a manager finance planning and analysis, we find that managers finance planning and analysis typically earn a $45,534 higher salary than fiscal managers make annually.Even though fiscal managers and managers finance planning and analysis are distinct careers, a few of the skills required for both jobs are similar. For example, both careers require general ledger, journal entries, and financial management in the day-to-day roles and responsibilities.

There are some key differences in the responsibilities of each position. For example, fiscal manager responsibilities require skills like "fiscal management," "payroll taxes," "federal regulations," and "fiscal policies." Meanwhile a typical manager finance planning and analysis has skills in areas such as "financial performance," "financial planning analysis," "customer service," and "financial models." This difference in skills reveals the differences in what each career does.

Managers finance planning and analysis earn the highest salaries when working in the manufacturing industry, with an average yearly salary of $109,735. On the other hand, fiscal managers are paid more in the internet industry with an average salary of $62,413.managers finance planning and analysis tend to reach higher levels of education than fiscal managers. In fact, managers finance planning and analysis are 8.0% more likely to graduate with a Master's Degree and 0.9% less likely to have a Doctoral Degree.

Fiscal manager vs. Manager/finance accounting

A manager of finance accounting's role is to oversee the financial activities in a company or organization. Their responsibilities revolve around coordinating with other departments to gather financial data, analyze the revenues and expenditures, and develop written reports and presentations. A manager of finance accounting must also maintain accurate financial records, identify any errors or inconsistencies, and perform support tasks for staff when necessary. Furthermore, as a manager, it is essential to lead and encourage the team, all while implementing the company's policies and regulations.

On average, managers/finance accounting earn a $29,961 higher salary than fiscal managers a year.While the salary may differ for these jobs, they share a few skills needed to perform their duties. Based on resume data, both fiscal managers and managers/finance accounting have skills such as "general ledger," "financial management," and "reconciliations. "

Each career also uses different skills, according to real fiscal manager resumes. While fiscal manager responsibilities can utilize skills like "fiscal management," "payroll taxes," "federal regulations," and "fiscal policies," managers/finance accounting use skills like "customer service," "due diligence," "external auditors," and "hr."

On average, managers/finance accounting earn a higher salary than fiscal managers. Some industries support higher salaries in each profession. Interestingly enough, managers/finance accounting earn the most pay in the government industry with an average salary of $92,198. Whereas fiscal managers have higher pay in the internet industry, with an average salary of $62,413.managers/finance accounting earn similar levels of education than fiscal managers in general. They're 3.0% more likely to graduate with a Master's Degree and 0.9% less likely to earn a Doctoral Degree.

Fiscal manager vs. Business manager-finance manager

A business manager/finance manager is responsible for handling the financial transactions of an organization, analyzing financial reports, and monitor investment activities. Business managers/finance managers strategize effective techniques to boost the organization's financial performance and identify business opportunities to increase revenues. They also prepare financial statements and assist senior management in making corporate decisions by conducting data and statistical analysis by studying market trends. A business manager/finance manager must have excellent critical thinking and analytical skills, especially in calculating costs and expenses to minimize the company's loss and stabilize profits.

On average scale, business manager-finance managers bring in higher salaries than fiscal managers. In fact, they earn a $44,682 higher salary per year.Using the responsibilities included on fiscal managers and business manager-finance managers resumes, we found that both professions have similar skill requirements, such as "general ledger," "journal entries," and "financial management.rdquo;

There are many key differences between these two careers, including some of the skills required to perform responsibilities within each role. For example, a fiscal manager is likely to be skilled in "fiscal management," "payroll taxes," "federal regulations," and "fiscal policies," while a typical business manager-finance manager is skilled in "project management," "shared services," "financial performance," and "strong analytical."

Business manager-finance managers earn the best pay in the finance industry, where they command an average salary of $115,910. Fiscal managers earn the highest pay from the internet industry, with an average salary of $62,413.Most business manager-finance managers achieve a similar degree level compared to fiscal managers. For example, they're 4.0% more likely to graduate with a Master's Degree, and 0.7% more likely to earn a Doctoral Degree.

Fiscal manager vs. Credit and collection manager

A credit and collection manager is responsible for evaluating credit services and supervising the credit and collection team in reaching out to clients with outstanding debts and credit applications. Credit and collection managers oversee the cash flow systems and identify opportunities to minimize excessive loss and resolve credit disputes. They also determine a customer's eligibility for credit options by analyzing documents and financial status. A credit collection manager must have excellent communication and analytical skills to process receivables and perform credit reconciliations accurately and efficiently.

Credit and collection managers typically earn higher pay than fiscal managers. On average, credit and collection managers earn a $10,421 higher salary per year.According to resumes from fiscal managers and credit and collection managers, some of the skills necessary to complete the responsibilities of each role are similar. These skills include "general ledger," "journal entries," and "reconciliations. "Each job also requires different skills to carry out their responsibilities. A fiscal manager uses "fiscal management," "payroll taxes," "federal regulations," and "fiscal policies." Credit and collection managers are more likely to have duties that require skills in "credit limits," "customer service," "dso," and "customer accounts. "credit and collection managers enjoy the best pay in the technology industry, with an average salary of $77,448. For comparison, fiscal managers earn the highest salary in the internet industry.credit and collection managers reach lower levels of education compared to fiscal managers, in general. The difference is that they're 7.7% more likely to earn a Master's Degree, and 0.8% less likely to graduate with a Doctoral Degree.

Types of fiscal manager

Updated January 8, 2025

Zippia Research Team
Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

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