Certified Texas Contract Manager Practice Exam

What role does the Fiscal Management Division serve?

1. Conducts training for agency staff

2. Performs post-payment audits of state agencies

3. Oversees the procurement process

4. Manages vendor relationships

The correct answer is: Performs post-payment audits of state agencies

The Fiscal Management Division plays a crucial role in ensuring the financial integrity and accountability of state agencies through its function of performing post-payment audits. This practice involves reviewing transactions after they have been processed to ensure compliance with established financial regulations and to verify that agencies are adhering to budgeting rules and policies. Through these audits, the division helps prevent fraud, waste, and mismanagement of funds, which is essential for maintaining public trust and effective use of taxpayer money. While conducting training for agency staff, overseeing the procurement process, and managing vendor relationships are also important functions within government operations, they fall outside the primary mandate of the Fiscal Management Division. The focus on post-payment audits highlights the division's commitment to fiscal responsibility and oversight.