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Minimum Qualifications Budget Fellow must possess a minimum of a Bachelor’s degree. Starting salaries depend upon level of education and type of work experience, and annual salary increases are dependent on satisfactory performance:
• Budget Fellow I: $47,900. A Bachelor’s degree. Advances to Budget Fellow II after one (1) year of satisfactory service.
• Budget Fellow II: $52,451. A Master’s degree in public administration, economics, business administration, public policy, public affairs or a closely related administrative or managerial field; or, a Bachelor’s degree and two (2) years of professional work experience including one (1) year in a directly-related policy area or one (1) year in public administration. Advances to Budget Fellow III after one year of satisfactory service.
• Budget Fellow III: $56,745. A Doctoral degree as specified for a Budget Fellow II; or a Master’s degree as specified for Budget Fellow II and one (1) year of professional budgeting experience within a governmental jurisdiction; or, a Master’s degree in any field and two (2) years of professional work experience including one (1) year in a directly-related policy area or in public administration; or, a Bachelor’s degree and four (4) years of professional work experience including one (1) year in a directly-related policy area or in public administration. Eligible for annual salary increases based on performance.
Additional requirements include:
The candidates must be able to:
• Think clearly, write well, and solve problems;
• Conduct independent quantitative analysis;
• Formulate and present constructive recommendations to address fiscal issues;
• Work adeptly with the Microsoft applications and DOB’s budgeting systems; and
• Form effective collaborative relationships.
Duties Description The Expenditure/Debt Unit is responsible for the development and management of the State’s Financial Plan, Capital Program and Financing Plan, and capital market activities. We provide senior policymakers with options for achieving and maintaining balanced budgets, funding capital projects, issuing debt and addressing emerging public finance problems. In this role, we work with senior policymakers, state agencies, public authorities and outside advisors to monitor, analyze and make recommendations on matters affecting the State's financial position.
The Expenditure/Debt Unit is seeking two candidates. We provide a unique opportunity for motivated candidates to find intelligent, cost-effective solutions to complex public finance issues and identify ways to better manage the State budget. In recent months, we have developed financing options for a variety of projects (e.g., Javits Convention Center, Moynihan Station, and the Governor Mario M. Cuomo Bridge); analyzed options for using residual tobacco receipts; and instituted measures to improve the State's liquidity. Additionally, the successful candidates will likely have the opportunity to work on other teams within the Unit to assist in the preparation, production and implementation of the State's Financial Plan.
Responsibilities of the Budget Fellow for the Expenditure/Debt Team would include, but are not limited to:
Debt Portfolio Specific:
• Assist in the analysis of the size, structure, pricing and cost effectiveness of new bond issues; review tax law, disclosure and other legal issues; analyze market conditions and participate in pricing of bonds;
• Review, analyze and make recommendations on financing options being considered by the State, including refundings;
• Perform research, prepare reports for use by managers and make recommendations analyzing municipal market conditions, general debt trends and debt statistics, and debt policy and management initiatives of NYS and other large issuers;
• Assist in development of the State’s debt service appropriation bill and recommend and draft legislation to implement capital and debt policy objectives and initiatives; and
• Interact with public authorities, investment banking firms, financial advisors and bond counsel to manage the State's debt portfolio.
Capital Planning Specific:
• Assist in the development, production and implementation of the State’s multi-year Capital Program and Financing Plan;
• Work closely with DOB examiners, public authority staff and agencies to determine the appropriate sizing of State bond sales to fund capital projects, monitor bonded spending levels and implement the reimbursement of bond proceeds to the State Treasury;
• Provide analyses and recommendations to support the capital budget making process, ensuring that capital spending is maintained at appropriate levels to address agency needs and simultaneously live within the spending restraints of the Debt Reform Act and the financial plan;
• Track capital project spending patterns by agency and fund for purposes of monthly cash flow analysis and financial plan updates; and
• Conduct various research projects and studies on capital financing activities and on capital process improvements.
Financial Plan Specific:
• Prepare timely, accurate information on the State’s multi-year Financial Plan estimates associated with the production of the State’s quarterly issued report to the legislature and general public; and
• Identify, analyze and explain emerging risks and opportunities affecting the Financial Plan and options for dealing with them.
Additional Comments To be considered for a current or future position with the Budget Division, please complete the Online Employment Application at https://www.budget.ny.gov/resume/ and select "Fiscal Planning" on the Professional Interests and Skills page.
Some positions may require additional credentials or a background check to verify your identity.
Notes on ApplyingTo be considered for a current or future position with the Budget Division, please complete the Online Employment Application at https://www.budget.ny.gov/resume/ and select "Fiscal Planning" on the Professional Interests and Skills page.