Purpose: To insure the financial records of the District are maintained accurately
Procedure: The Business Administrator will perform the following tasks:
Daily:
• Record cash receipts in the alio Cash Receipts module and the Accounts Receivable module
• Monitor bank balances at PNC and Lakeland Bank
• Process budgetary transfers using the alio Budget Transfer module
• Approve payroll time and reimbursement requests in the employee portal
• Approve payroll deduction changes in the employee portal
• Review, approve, print and post purchase orders
• Review, approve, print and post accounts receivable invoices using the alio AR processing module
Weekly
• Update cash projection to meet upcoming obligations
• Review expenditure summary report by detailed line item to ensure that sufficient funds are available, no accounts were overspent as a result of payroll. Prepare transfers if necessary.
Monthly
• Record recurring journal entry to reverse health benefit receivable
• Review student activity deposits
• Record charges for transportation costs for field trips charged to Student Activity Funds
• Finalize cash projection report for Board of Education Finance Committee review.
• Prepare fund balance and cash projections
• Review SNEARS monthly reimbursement requests and certify in SNEARS.
• Record SNEARS receivables
• Review Accounts Receivable Report by Customer and contact customers in arrears.
• Prepare bank reconciliations prior to Treasurer’s reconciliation
• Verify that all general ledger accounts are reflected in the Board Secretary’s Report
• Review the Board Secretary Report to ensure that balance sheet account balances are correct
o Balance sheet is in balance for all funds
o Appropriation line balances are sufficient
o Revenue balances are reflected properly
• Generate monthly reports for Treasurer including:
o Treasurer’s Cash Position Report – alio Intelligence
o Balance Sheet Detail Account – core alio
o Custom Cash Receipts Report by Account – core alio
o Adjusting Journal Entries by Account – core alio
o Detail Check Register – Bank 10 (AP) – core alio
o Summary Check Register – Bank 40 (Agency) – core alio
o Void Check Register – all banks – core alio
o Board Secretary’s Report – Funds 10 through 60 – core alio
• Compare Board Secretary Report and Treasurer’s Cash Report for agreement.
Quarterly:
• Adjust payroll records for correct FICA deductions for employees on workman’s compensation
• File sales tax report for cafeteria sales and remit taxes
• Prepare 941, 927 and Pa. quarterly tax reports
• Prepare Cash Reimbursement requests for grants through EWEG and record receivable
• Prepare Cash Reimbursement requests for SDA grants and record receivable
Year End:
• Review purchase orders for encumbrance vs. accounts payable rollover
• Accrue payroll payables at June 30
• Record state and federal receivables including NP Transportation
• Review accounts receivable balances and cancel where necessary
• Analyze Balance Sheet Accounts
• File Fund 20 Financial reports in Homeroom
• Review all Fixed Asset purchases and add to the Fixed Asset System
• Close year end
New Year Opening:
• Compare original budget in Advertised Budget to July Board Secretary Report and revenue and expenditure reports
• Revise Fund 20 original budget and revenue amounts to actual awards
• Add Fund 30 budget and revenue amounts which should equal prior year unexpended balances
• Revise Fund 60 Program 910 original budget and revenue amounts to projected based on 06-30
• Record tax levy receivable for General and Debt Service Funds
• Record State Aid receivable for all funds
• Review account distribution in payroll and position control for all contract salary
• Encumber funds for contracted salary and benefits for all employees
Accounting procedures for general ledger activities are included in the Appendix II section of this manual.