Fiscal Officer, Account Supervisor, Account Manager

Owned by Annette Pavone
Last updated: May 17, 2022
2 min read

The Fiscal Officer (FO) provides the day-to-day oversight on how the funds of an account are spent and managed. Although additional workflow approvals can be configured to satisfy the business needs of each department, the Fiscal Officer is the one individual who must approve all documents relating to their accounts.

Although the role of Fiscal Officer can be delegated by document type, the Fiscal Officer should not be a person who will simply delegate the role to another individual on a permanent basis.

Generally, the Fiscal Officer should have the authority and knowledge to ensure that:

  • Funds are budgeted appropriately

  • Funds are spent according to fiscal policy and in alignment with the account purpose

  • Processes and controls are in place

  • Assets are safeguarded

  • Transactions are recorded and reported properly

  • The account is reconciled monthly

  • Expenditures are in conformity with the budget

  • Appropriate budget changes have been made to reflect changes in the original budget

Fiscal Officer Suggestions: Business managers, fiscal managers, assistant finance directors, grants and contracts specialists/managers, etc.

Account Supervisor: The Account Supervisor oversees the management of the account at a higher-level than the Fiscal Officer, but rarely receives any direct requests for action from KFS. The Account Supervisor cannot be the same as the Fiscal Officer or the Account Manager. On grant accounts, the Account Supervisor is the PI. On non-grant accounts, the Account Supervisor may be the department head.

Account Manager: The Account Manager has the responsibility for ensuring that funds are spent and managed according to the goals, objectives and mission of the organization, to ensure that the funds are being spent according to a budgeted plan and that the allocation of expenditures is appropriate to the function identified for the account. The Account Manager cannot be the same as the Fiscal Officer. The Account Manager may one level higher than the Account Supervisor.