Purpose: To collect funds through payroll withholdings consisting of state and federal income taxes, social security taxes, retirement deductions, annuity premiums, and various other amounts withheld from the payroll checks of employees, from which legal or contractual obligation exists to remit monies to a third party. These payroll deductions are transferred to the appropriate agency accounts when the payroll is recorded and are held in trust until routine remittances are made to the appropriate agencies.
Procedure: Employees request changes to tax and voluntary deductions through the employee portal. Tax Shelter Annuity changes must be requested by using the TPA site, OMNI.
The Staff Accountant processes payroll agency requests each pay cycle. During the payroll cycle, the Staff Accountant will:
• Create vendor liabilities using the District’s payroll system, alio.
• Reconcile agency vendor invoices to payroll liabilities
• Create ACH files, AP checks and manual checks to record agency payments
• Authorize Federal tax, Social Security withholdings, New Jersey tax and Pennsylvania tax payments through each agency’s website
• Request Social Security reimbursement from the NJDOE using Homeroom
• Submit monthly withholdings to New Jersey Divisions of Pensions and Benefits for TPAF, PERS and DCRP withholdings.
• Email ACH advices to vendors through the District’s E-delivery software
• Email 403b and 457 employee contribution report to District’s Third Party Administrator, OMNI
• Upload ACH file to Pinnacle
• Reconcile the accounting records, Fund 90, with Agency activity.
Detailed procedures for agency processing are included in the Appendix II section of this manual