Roles of budget owner

1. Review and approve original charges: All invoices and requests for payment, including any related backup documentation, should be reviewed by the appropriate authority and signed as approved.
2. Keep appropriate records: Records (i.e.: a copy of the invoice, sole source documentation, business meeting notes, etc…) should be kept in accordance with departmental and organisation’s Records Retention policies.
3. Review posting of charges: A review of all charges and deposits to accounts under your purview should be made regularly and at least monthly.
4. Reporting and resolution of issues: Any issues found during your review should be immediately brought to the attention of the Fiscal Affairs Manager or Executive Director of Business and Finance. Fiscal Affairs personnel shall assist the Budget Owner in researching and resolving issues. However, the Budget Owner is ultimately responsible for final follow
up and resolution.
5. Review budget vs. Actual information: A regular review of budget vs. actual expenses and revenue should be done to identify any possible issues. Any questions or concerns should be immediately brought to the Executive Director of Business and Finance.
6. Delegated responsibilities: It is the Budget Manager’s responsibility to ensure that any delegated authorities or duties are properly documented, approved and maintain appropriate internal controls. Any questions can be directed to the Fiscal Affairs Manager or the Executive Director of Business and Finance.
7. Annual financial certifications: Complete and sign the annual certification as provided by finance. This is done each fiscal year in June and July.