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Reconciling Cash to County Treasurer

Reconciling Cash to County Treasurer. MASBO New Clerk Academy September 27 - Billings Denise Williams, Executive Director 406-461-3659 dwilliams@masbo.com. The Basics. Who? YOU! What? Making sure the money you say you have is how much the county says you have Where? Your desk…or wherever

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Reconciling Cash to County Treasurer

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  1. Reconciling Cash to County Treasurer MASBO New Clerk Academy September 27 - Billings Denise Williams, Executive Director 406-461-3659 dwilliams@masbo.com

  2. The Basics • Who? YOU! • What? Making sure the money you say you have is how much the county says you have • Where? Your desk…or wherever • Why? Single best way to detect errors of all kinds • When? Every month, without fail • How? Well, that’s next…

  3. Absolute, Unbreakable Rules • Get It Done! • Do what works for you • Communicate with your treasurer • Use tools available to you • Accounting software • OPI spreadsheets

  4. Steps • Entering revenue • From state (see OPI website) • State school payments, school foods, E-Grants) • From county • Taxes • County retirement, transportation distributions • Interest • Others? Make sure to verify amount directly from paying entity • Track county A-101 numbers

  5. Steps • Internal cash transfers (i.e., recoding) • Communicate transfer to treasurer • Be timely! • Clear warrants

  6. Steps • Compare cash balances in your records to cash balances from county • By fund • OPI Spreadsheet • Consider using Trial Balance report • Provides more information than balance sheet • Review expenditures, revenues, payables

  7. Steps • Verify correct cash balances • Fund X86 (Payroll) cash balance equals sum of: • Outstanding payroll warrants • Warrants payable (if work comp and/or unemployment insurance checks are issued quarterly) • Fund X87 (Claims) cash balance equals outstanding claims warrants

  8. Steps • Verify correct cash balances • School Foods (X12) • Cash limit = 3 months expenditures • Figure total fund X12 expenditures, divide by 4 • Lease Rental (X20) • Limit $10K cash, $20K for K-12 districts • 20-9-509, MCA • Compensated Absences (X21) • Cash limit = 30% accumulated sick and vacation of non-teaching & administrative employees • 20-9-512, MCA

  9. Steps • Resolve discrepancies immediately…if not sooner • Consult detail reports to find root of problem • Suggested process to find discrepancies: • Verify revenue totals • Verify clearing transfers • Compare District’s cash detail reports to county’s cash detail reports • Balance remaining funds to see if offsetting difference appears • Contact software vendor • Make correction

  10. Steps • Verify revenue totals with county reports, EVEN IF cash balances • Track A101 receipt numbers where possible • Ensure all differences are reasonable • Revenue refunds • Lunch money • Adult ed classes • Revenue differences caused by accruals • Grants • Driver’s Ed Reimbursements

  11. Steps • Reconcile project cash in Misc. Programs Fund (X15), Student Activities (X84), and others • OPI Fund 15 Spreadsheet • OPI Student Activity Spreadsheet • Request grant cash AFTER balancing cash in each project

  12. Steps • Close month in accounting system, if applicable • Print reports • County report • District cash report • Outstanding check list • Provide public access • Retain documentation for 8 years

  13. Get help! You are NOT on an island. • Software vendor • Treasurer/Bank • School Accounting Manual • Other clerks with your software • Other clerks in your area • OPI (try Dan Moody or Keri Ludwig) • Me!

  14. Questions/Discussion MASBO New Clerk Academy September 27, 2019 in Billings Denise Williams – MASBO Executive Director 406-461-3659, dwilliams@masbo.com

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