Final answer:
The chief accountant (controller) is indeed responsible for coordinating the preparation of the budget, which aligns with the duties typically associated with a comptroller of public accounts in the public sector, including budget oversight and financial reporting.
Step-by-step explanation:
The statement that 'The chief accountant (controller) has responsibility for coordinating the preparation of the budget' is True. The chief accountant or controller of a company or a public entity like a state government typically has the authority and responsibility to oversee the budget process, ensuring that all financial reports are accurately prepared.
Their duties may include coordinating the efforts of various department heads during the budget-making process, consolidating budget proposals, and aligning them with strategic goals and available resources.
Specifically, a comptroller of public accounts, as an elected official, not only maintains the state's accounting records and collects revenues but is also involved in preparing annual financial statements and revenue estimates. These responsibilities indicate a direct involvement in budgetary functions.
Additionally, they must certify that the legislature's appropriations bills are within available revenues before the bill can be signed by the governor.