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Information Management Systems » Financial Services

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
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
      • 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
941 Quarterly Reports  and W-2's
      • Prepare and balance reports monthly
      • Digital file created in ASCENDER
      • File submitted to IRS
      • Deliver W-2's to employees via Employee Portal
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
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)
 
  • 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 1099 work table with districts input
  • Categorize and ensure all vendors are captured
  • Prepare annual Form 1099s and submit to IRS using the FIRE system
  • District submits to vendors
Pricing for Region 7 Financial Services may be found in eAgreements.