State of Connecticut Executive Branch

Principal Cost Analyst (6328AR)

$47.69-$61.03 Hourly / $3,814.95-$4,881.92 BiWeekly /
$99,570.00-$127,418.00 Yearly


PURPOSE OF JOB CLASS (NATURE OF WORK)

In the Connecticut Lottery Corporation, Departments of Children and Families, Mental Health and Addiction Services, Social Services and Office of the State Comptroller this class is accountable for acting as a working supervisor over a team of technical personnel engaged in cost analysis or for independently performing highly complex cost analysis work.

SUPERVISION RECEIVED

Receives general direction from an employee of higher grade.

SUPERVISION EXERCISED

Leads technical, clerical and lower level staff in assigned areas of responsibility.

EXAMPLES OF DUTIES

  • Plans unit workflow and determines priorities; 
  • Schedules, assigns, oversees and reviews work; 
  • Establishes and maintains unit procedures; 
  • Provides staff training and assistance; 
  • Conducts or assists in conducting performance evaluations; 
  • Acts as liaison with operating units, agencies and outside officials regarding unit policies and procedures; 
  • May make recommendations on policies or standards; 
  • May prepare reports and correspondence; 
  • Performs related duties as required.

CONNECTICUT LOTTERY CORPORATION: 

  • Independently performs highly complex cost, revenue and financial analysis functions; 
  • Coordinates budget preparation process and develops recommendations as to budgeted levels for various revenue and expense categories and line items; 
  • Reviews accounts and records for budgetary control of corporate expenses and revenues; 
  • Performs complete general ledger accounting in accordance with Generally Accepted Accounting Principles (GAAP); 
  • Prepares periodic financial statements for various product groups and operating departments; 
  • Performs cost benefit and break-even analyses for lottery retailer incentive programs, marketing campaigns and consumer promotional programs; 
  • Makes recommendations regarding design and modification of incentive programs for entrepreneurial sales staff and monitors program results; 
  • Creates and applies meaningful expense and revenue allocation schemes using cost accounting principles; 
  • Provides financial, analytical and statistical feedback to assist in development of strategic sales and marketing plans; 
  • Analyzes prize liability and unclaimed prizes by game; 
  • Provides sales and cost analyses, using statistical methods, trends and curve extrapolations to assist management in formulation of corporate policy; 
  • Assists in compilation of financial data necessary for preparing detailed complex financial statements; 
  • Acts as liaison with operating units, other state lotteries and lottery associations; 
  • May lead staff as assigned; 
  • Performs related duties as required.

DEPARTMENT OF SOCIAL SERVICES: 

  • Monitors a team of accountants engaged in cost analysis work of determining per diem rates of reimbursement for Medicaid supported patients or carries out such responsibilities directly; 
  • Consults with and advises administrators of facilities in preparation and presentation of financial and cost finding reports; 
  • Analyzes and interprets cost reports and recommended reimbursement rates to administrators; 
  • Attends and participates in appeals hearings for purpose of performing continuous evaluation of cost trends by analyzing facility expenditures and/or adjustments of expenditures in terms of need, policies, financial objectives and legal requirements and recommends appropriate action; 
  • Performs related duties as required.

DEPARTMENT OF CHILDREN AND FAMILIES: 

  • Monitors a team of accountants engaged in any of the following tasks or carries out such responsibilities directly: cost analysis work of determining per diem rates of reimbursement for children in residential placement, group homes and fee for service rates; 
  • Consults with and advises administrators of facilities in preparation and presentation of financial and cost finding reports; 
  • Analyzes and interprets cost reports and recommended reimbursement rates to administrators; 
  • Attends and participates in appeal hearings for purpose of performing continuous evaluation of cost trends by analyzing facility expenditures and/or adjustments of expenditures in terms of need, policies, financial objectives and legal requirements and recommends appropriate action; 
  • Independently performs highly complex cost, revenue and financial analysis functions; 
  • Coordinates budget preparation process and develops recommendations as to budgeted levels for various revenue and expense categories and line items; 
  • Reviews accounts and records for budgetary control of expenses and revenues; 
  • Prepares periodic financial statements; 
  • Performs cost benefit and break-even analyses; 
  • Provides cost analyses using statistical methods, trends and extrapolations to assist management in formulation of financial and budgetary policy; 
  • Assists in compilation of financial data necessary for preparing detailed complex financial statements; 
  • Acts as liaison with operating units; 
  • Performs related duties as required.

DEPARTMENT OF MENTAL HEALTH & ADDICTION SERVICES: 

  • Leads team of professional technical staff engaged in cost analysis work of determining rates of reimbursement for behavioral health services; 
  • Performs highly complex cost, revenue and fiscal analysis work in determining rates of reimbursement; 
  • Negotiates rates with providers; 
  • Consults with and advises agency facilities on financial and cost finding reports; 
  • Analyzes and interprets cost and revenue reports and recommends reimbursement rates; 
  • Provides financial, analytical and statistical information to assist in budgeting and rate setting; 
  • Using statistical methods, trends and forecast models provides information to management; 
  • Assists in development of highly complex financial reports; 
  • Coordinates budget preparation process and develops recommendation as to budgeted levels for various revenue and expense categories and facility fund levels; 
  • Reviews accounts and records for budgetary control of expenses and revenues; 
  • Prepares detailed complex financial statements; 
  • May attend and participate in appeals hearings; 
  • May act as a liaison with operating units; 
  • Performs related duties as required.

OFFICE OF THE STATE COMPTROLLER: 

  • Monitors a team of accountants engaged in cost analysis, cost reporting or rate setting including preparation of cost allocation plans, determining reimbursement rates for fringe benefits on federal programs and preparing or advising on preparation and negotiation of indirect cost studies; 
  • Determines weekly per capita cost for patients in state institutions; 
  • Prepares Medicare cost reports or reviews and approves such cost reports for state hospitals; 
  • Coordinates Medicare reimbursement plans; 
  • Determines and negotiates interim Medicare billing rates and rates for Medicaid supported patients in state facilities; 
  • Maintains records; 
  • Performs continuing evaluation of cost trends, methods of cost determination and allocation, recommending action as required; 
  • Interprets constitutional and statutory provisions affecting state financial expenditures and revenues; 
  • Reviews accounts and records for budgetary control of state expenditures and revenues; 
  • Assists in compilation of financial data necessary for preparing detailed complex financial statements; 
  • Provides consultation to state agencies; 
  • Performs related duties as required.

KNOWLEDGE, SKILL AND ABILITY

  • Considerable knowledge of
    • principles and practices of business administration; 
    • principles and techniques of health care budgeting, budget control and cost accounting; 
  • Knowledge of research techniques and statistical principles and procedures; 
  • Considerable
    • oral and written communication skills; 
    • interpersonal skills; 
  • Considerable ability to interpret costing and reporting regulations; 
  • Ability to utilize computer software;
  • Supervisory ability. 

MINIMUM QUALIFICATIONS - GENERAL EXPERIENCE

Eight (8) years of experience in technical work in cost accounting or fiscal management.

NOTE: Fiscal management is defined as professional accounting or auditing work with responsibility for the review and recommendation of financial policies and procedures of a business organization.

MINIMUM QUALIFICATIONS - SPECIAL EXPERIENCE

One (1) year of the General Experience must have been in an advanced professional capacity recommending cost funding policies in a medical, intergovernmental or quasi-public setting.

NOTE: For state employees experience in an advanced professional capacity is interpreted at the level of an Associate Accountant. Intergovernmental is defined as interactions between a state government and the federal government or within or between state government(s).

MINIMUM QUALIFICATIONS - SUBSTITUTIONS ALLOWED

  • College training may be substituted for the General Experience on the basis of fifteen (15) semester hours equalling one-half (1/2) year of experience to a maximum of four (4) years for a Bachelor's degree.
  • A Master's degree in accounting, business administration or hospital administration may be substituted for one (1) additional year of the General Experience.
  • Certification as a Certified Public Accountant may be substituted for one (1) additional year of the General Experience.

SPECIAL REQUIREMENTS

CONNECTICUT LOTTERY CORPORATION: Incumbents must obtain an occupational license in accordance with Section 12-802a of the Connecticut General Statutes.

JOB CLASS DESIGNATION

Classified/Competitive

OCCUPATIONAL GROUP

(01)-Accounting/Auditing

BARGAINING UNIT

(16)-ADMIN & RESID (P-5)

EEO

(2)-Professional

SALARY INFORMATION

AR 28

ACKNOWLEDGEMENT

As defined by Sec. 5-196 of the Connecticut General Statutes, a job class is a position or group of positions that share general characteristics and are categorized under a single title for administrative purposes. As such, a job class is not meant to be all inclusive of every task and/or responsibility.

CANCELLATION CLAUSE

This replaces the existing specification for the class of Principal Cost Analyst in Salary Group AR 28 approved effective March 6, 2015. (Reviewed for content and revised to modernize format and add Acknowledgement section) Final No. 23-294

EFFECTIVE DATE

01/08/2024

CLASS: 6328AR; EST: 3/1/1974; REV: 3/28/2024;