Financial Services
Region 7 ESC provides a plethora of financial services on an annual, as-needed, or emergency assistance basis. Giving small districts better separation of duties and an extra layer of internal controls as frequently requested by auditors. Services provided include:
- State Financial Template
- Budget Assistance
- Payroll Services
- Bank Reconciliation Services
- Quarterly and Annual Reporting
- Monthly Financial Oversight
- Accounts Payable Processing
Payroll Services (ASCENDER only)
Region 7 ESC's qualified staff offers annual, as needed, or emergency payroll services. Services can include any or all of the following:
Payroll preparation and process
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- Assistance with or entering of 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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Monthly Financial Oversight (All Software)
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 stream-line 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
Bank Reconciliations (All Software)
Region 7 ESC offers bank reconciliation services to LEAs for a monthly fee. Bank reconciliation services assist LEAs with timely, accurate internal controls. Services are available on a short or long-term basis and include:
- Initial look at status/clean-up (if clean-up exceeds 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 initial opening entry (per audit)
- Reconciliation performed using EXCEL spreadsheet and your BIS system
- Documentation sent to district securely through OwnCloud
- 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)
Prepare 1099's (ASCENDER only)
- Create 1099 work table with districts input
- Categorize and ensure all vendors are captured
- Create 1099 report
- District submits to vendors
Pricing for Region 7 Financial Services may be found in eAgreements.