Financial Services
Unable to find a Business Manager? No separation of duties?
Region 7 ESC provides a plethora of financial services that offer our districts better separation of duties and an extra layer of internal controls as frequently requested by auditors. LEAs needing assistance with hands-on financial processes can choose any or all services.
Services include:
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- Business Mentor Program
- Business Administrator Network
- Payroll Services
- Bank Reconciliation Services
- Quarterly and Annual Reporting
- Financial Oversight/Review
- Accounts Payable Processing
- Next Year Budget and Finance EOY Close
Business Mentor Program
- Perform monthly on-site visits
- Support Business Administrators in areas of need
- Support new Business Administrators in learning how to successfully manage time, priorities, and resources
- Support via phone, email, and remote access
- Provide a members-only website
- Provide checklist(s) for guidance
Business Administrator Network
Six (6) fantastic meetups that are all about networking and learning. Each morning will be a dive into a timely topic that's sure to benefit you. Then, in the afternoon, you'll have the chance to connect with others, work on projects, or simply focus on your tasks.
We can't wait to see you there!
Payroll Services
Region 7 ESC's qualified staff offers payroll services that can include any or all of the following:
Payroll preparation and process
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- Assistance with or entering employee time in the BIS
- Processing payroll run(s)
- Generation of required reports
- Generation and submission of TEAMS/TRS required reporting
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941 Quarterly Reports and W-2's
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- Prepare and balance reports monthly
- Digital file created in ASCENDER
- File submitted to IRS
- Deliver W-2's to employees via Employee Portal
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TRS Reporting
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- Prepare and submit TRS and TRS payments using TRAQS and TexNet
- Run August accruals and TRS On-Behalf calculation.
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Bank Reconciliations
Region 7 ESC offers bank reconciliation services to LEAs for a monthly fee. Bank reconciliation services assist LEAs with timely, accurate internal controls and include:
- An initial look at status/clean-up
(if clean-up exceeds the monthly rate, additional hours will be charged at a per-hour rate)
- Initial look-back period of two months (unless going back and completing an entire year)
- District contact will approve the initial opening entry (per audit)
- Reconciliation is performed using an EXCEL spreadsheet and your BIS system
- Documentation is sent to the district securely through a secure Cloud service
- Region 7 will prepare and submit entries for LEA as needed
- Enter adjustments and journal entries monthly into the LEA's Business Information System (BIS)
Accounts Payable Processing
- Purchasing Module Setup
- Add and/or update Vendors
- Post payments and reconcile purchase orders
- Post and print vendor checks
- Review budget versus actual expenditures monthly
- Create a 1099 work table with the district's input
- Categorize and ensure all vendors are captured
- Prepare annual Form 1099s and submit them to IRS using the FIRE system
- District submits to vendors
NY Budget and Finance EOY Close (ASCENDER LEAs Only)
Region 7 ECS's experienced Staff will
- Complete NY Budget process checklist
- Reinitialize the system to prepare for Budget Data Entry
- Provide documentation of prerequisites to assist with the EOY close - These steps must be completed by the LEA and an Authorized LEA staff member sign and date the document at completion.
- Complete Finance EOY checklist - Checklist must be completed using the "Increment option" on all funds except ESSER (ESSER funds must Continue with FY 1).
- Each LEA will have the option to have the "Continuing Funds" JV deleted
Financial Oversight/Review
Region 7 ESC's experienced staff will review a set of reports to assist with end of month close and balance process.
- Review chart of accounts for coding errors
- Help to define sub-objects
- Help streamline account codes
- Review General Ledger for over-expenditures
- Assistance with state funding questions
- Assistance with budget preparation and analysis
- Template preparation (every 6 weeks)
- State Allotment monitoring
- Reconcile/Balance TRS and 941 Reports
Pricing for Region 7 Financial Services may be found in eAgreements.
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