Megan H. Hough
Fruit Heights,UT
Summary
Dynamic financial leader with extensive experience as CFO at Utah Legal Services, Inc., excelling in financial reporting and budget forecasting. Proven track record in compliance auditing and effective communication, achieving clean audit opinions and implementing cost allocation plans that enhance profitability. Adept at driving financial strategy and fostering organizational growth.
Overview
25
25
years of professional experience
1
1
Certification
Work History
Chief Financial Officer
Utah Legal Services, Inc.
Salt Lake City, UT
03.2006 - Current
- Preparation of monthly financial and income statements for management and board review.
- Present financial statements to management and the board and address all questions.
- Developed and implemented a cost allocation plan that complies with federal funding requirements, providing detailed profit & loss data for each funding source to inform financial decision-making.
- Preparation of a two-year budget forecast with interactive formulas that actively analyzes data as it is updated and feeds through to a summary presentation page. Forecast is utilized by management to make personnel decisions conform to annual revenue restrictions. This budget forecast utilizes pivot tables, and advanced formulas utilizing nested functions that include sumif/countif, named ranges, and/or, concatenate, vlookup/index/match formulas.
- Prepared project budget information for all grant applications, including financial statements, board-adopted budget, and financial projections to support funding requests.
- Designs and maintain the ULS Accounting Manual. Ensure the accounting manual assesses an internal risk assessment and is updated to conform with single audit and /or federal audit and/or state audit recommendations.
- Single audit reports, schedules, and letters necessary to assist with the audit. I file all required reports and send audit copies to Federal, state and local entities. Audits have had a clean opinion with no financial recommendations, no adjustments, and no findings.
- Prepares monthly billings for all funding sources and monitor receivables for timely payment. Developed and implemented a status of funding monitoring spreadsheet that is utilized by management to ensure adequate invoicing to bill out contracts.
- Oversees Utah Legal Services banking procedures. Maintain banking relationships. Ensure investment strategies comply with board adopted rules and federal funding guidelines. Prepare Board resolutions for Utah Legal Services account maintenance purposes.
- DOJ Federal financial management certification which allowed me to be the financial point of contact on Federal Department of Justice grant awards.
- Prepare and develop quarterly payroll reports. Filed payroll taxes in multiple states.
- Reconcile payroll and accounts payable with general ledger. Ensure supporting documentation is tracked to all transactions.
- Designed and implemented import automation in MIP for distribution codes, increasing efficiency and reducing input errors in the accounting process.
- Supervise RFP implementation and ensure costs are as outlined in the RFP. Ensure milestones are completed per the RFP and all payments are completed in accordance with contract.
- Collect health insurance cost options and make recommendations to management for best options to keep benefits as whole as possible while keeping increases within budgeted levels for open enrollment period.
- Performed internal audits on general ledger entries to verify expense allocations and funding sources.
Finance Director
State of Utah, Department of Community and Culture
Salt Lake City, UT
03.2005 - 10.2005
- Led budget and accounting teams in daily accounting activities, budget development, and fiscal year close-out to ensure accurate financial reporting.
- Review fiscal operations to ensure integrity and accuracy.
- Audit systems and practices to ensure compliance with policy.
- Centralized accounting functions to standardize processes and enhance cross-training for accounting technicians.
- Developed Data Warehouse pivot tables to track expenditures, ensuring alignment with budgetary constraints.
- Developed and modified organizational policies to improve compliance standards.
Budget & Policy Analyst
State of Utah, Governor’s Office of Planning and Budget
Salt Lake City, UT
04.2001 - 03.2005
- Analyzed budgets of the Department of Community and Economic Development, the Department of Human Resource Management, Career Service Review Board, Public Employees Health Programs, and Utah Retirement Systems and made recommendations to the governor on agency budget needs.
- Developed proposal addressing employee compensation compression in Utah State Government. Adjusted Market Comparability Adjustments (MCAs) to move employees through salary ranges based on market percentage. Proposal adopted in Governor’s recommendation to legislature, leading to legislative adoption at reduced funding.
- Tracked and recommended bills related to programs for the Governor during Legislative Session. Authored HB 318, establishing the Governor’s Office of Economic Development and the Department of Community and Culture.
- Supported budget and policy recommendations made by the Governor to the Legislature.
- Prepared three Governor’s Budget Recommendations and Summary Books. The Governor’s Budget Recommendations summarize the Governor’s Recommendation and the Summary Book outlines actual Legislative action.
- Analyzed benefit offerings for the Governor’s Office recommendations. Collaborated with the actuary on benefit changes to reduce premium increases.
- Trained state agencies on budget preparation and the use of the Governor’s Office Budget Prep program.
Education
MBA -
Utah State University
Logan, UT08.2000
BS - Economics
Southern Utah University
Cedar City, UT05.1999
Skills
- Financial management
- Financial analysis expertise
- Financial reporting
- Budget forecasting
- Budget development
- Cash flow management
- Cost allocation
- Budgeting and cost control
- Internal audits
- Compliance auditing
- Grant management
- Financial strategy development
- Financial technology adoption
- Process improvement
- Accounting principles understanding
- Budgeting and cost control
Certification
- DOJ Financial Guide Certification
- CGFM – In Process
Timeline
Chief Financial Officer
Utah Legal Services, Inc.
03.2006 - Current
Finance Director
State of Utah, Department of Community and Culture
03.2005 - 10.2005
Budget & Policy Analyst
State of Utah, Governor’s Office of Planning and Budget
04.2001 - 03.2005
MBA -
Utah State University
BS - Economics
Southern Utah University