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Business Finance Accounting Duties

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					ROLE OF SCHOOL
BUSINESS OFFICIAL

   Karen Lusk-Smith
   Mountain Brook Schools
   Mountain Brook, Alabama
   April, 2008
DUTIES AND RESPONSIBILITIES:

   Maintain an accounting system in accordance with GAAP and GAAS.
   Maintain a school payroll accounting system in accordance with
    applicable laws and regulations
   Prepare financial reports annually and at other times as requested by
    the local school superintendent, the board of education, and other
    agencies.
   Prepare reports as required by other agencies.
   Maintain an adequate system of internal controls including property
    and inventory.
   Maintain a sound system of cash management
   Maintain a sound accounting system in the individual local schools.
   Maintain a system of contracting and purchasing procedures.
     as appropriate.
DUTIES AND RESPONSIBILITIES

   Maintain the financial operations of the child nutrition program and other
    special programs in accordance with state and federal requirements.
   Coordinate the preparation of the annual budget and any amendments
    as appropriate.
   Carry out all assigned responsibilities in accordance federal, state, and
    local laws and with applicable rules and regulations.
ADMINISTRATOR FOR BUSINESS

   Budgeting
   Accounting and Finance
   Maintenance and Operations
   Purchasing
   Transportation
   Capital Facilities
   Strategic Plan
   Multi-Year Forecasting
   Risk Management
   CNP and Federal Programs
BUDGETING PROCESS

   Site Based
   Justification Sheets For Specific Needs
   Proposed Budget Is Easy-To-Read,
    Understandable, and Concise Format
   Procedures and Implementation Process for
    How to Handle Reductions, When Necessary
ACCOUNTING AND FINANCE

   Cash Management
   Investment Practices
   Recording, collecting, adjusting, and
    reporting receivables
   Employee’s compensation and benefits
   Analyze, evaluate, monitor and report debt
    financing alternative
   Monitors and reports grant activities
ACCOUNTING AND FINANCE

   Internal auditing function to provide assurance
    that internal control processes are adequately
    designed and functioning effectively.
   External audit and uses the audit to improve its
    operations
   Controls for effective management of capital
    assets:
      - Asset acquisition
      - Recording cost of facilities to board, public,
         or grantors
ACCOUNTING AND FINANCE


   Established controls to ensure financial
    resources are properly managed
   Records and reports financial transactions in
    accordance with prescribed standards
   Financial reports are prepared and distributed
    timely
MAINTENANCE AND OPERATIONS

   Guidelines and procedures are in place for
    daily operations
   Bid process is in place
   Analyze data – YTD budget analysis
   Scheduled ongoing maintenance and
    replacement needs
   Certifications are kept active
   Follow FLSA for over-time
PURCHASING

   THE DISTRICT HAS ESTABLISHED A DEFINED
    PURCHASING FUNCTION WITH CONTROLS
    OVER REQUSITIONING, AUTHORIZING, AND
    THE RECEIVING FUNCTIONS:
        Segregation of duties
        Established controls for authorizing requisitions
        Established authorization controls to ensure that
         goods and services are fair, competitive, and
         reasonably consistent with acceptable quality
         performance
        Established controls to ensure that goods are
         received and meet quality standards
PURCHASING

    Established controls for processing invoices to
     ensure quantities, prices, and terms coincide with
     purchase orders and receiving reports
    Established controls to ensure disbursements are
     properly authorized, documented, and recorded
    Established controls to ensure payables/encumbrances
     (obligations) are properly authorized, documented, and
     recorded
TRANSPORTATION

   Written guidelines are in place for policies
    and procedures
   10-year fleet program for funding
   Regular inspections of fleet
   Certification class for employees
   Dual jobs-FLSA
   Field trips
CAPITAL FACILITIES

   The district uses state and local educational facilities
    construction funds to meet its five year facilities work
    plan in a lawful and cost effective manner.
         Funds are used appropriately, lawfully, and in
          accordance with it’s adopted five year plan
         Incorporate factors to minimize the maintenance
          and operations requirements of the new facility
CAPITAL FACILITIES

   Plan is based on an evaluation of the
    physical condition and ability of facilities to
    meet educational needs.
       Planning and prioritizing construction needs
       Construction program complies with current law
        and building codes
       Board ensures responsiveness to the community
        through open communication about the
        construction program and the five year facilities
        work plan.
CAPITAL FACILITIES

    Facilities planning committee that includes broad
     base of school district personnel, parents,
     construction professionals, an other community
     stakeholders.
    Established authority and assigned
     responsibilities for facilities planning
    Provides budgetary plans and priorities based on
     a master plan and input from the facilities planning
     committee.
    Plan is based on demographic study and
     enrollment projections.
STRATEGIC PLAN

   ACTION PLAN OBJECTIVE
   Goals should be result oriented goals
       Describe the end
       Describe an output
       Aims productivity improvements
       Involves projected outcomes
       Identifies improvement target
       Secure financial resources necessary to achieve our
        goals and use the best management practices to
        ensure fiscal responsibility
STRATEGIC PLAN

   Once you have result oriented goals, explore
    how to make them SMART goals.
       SPECIFIC AND STRATEGIC
       MEASURABLE
       ATTAINABLE
       RESULT-ORIENTED
       TIMEBOUND
MULTI-YEAR FORECASTING

   Anticipate financial impact of potential
    problems
   Allow for time to plan and respond and not
    just react to a budget crisis
   Show citizens, legislatures, and others that
    you are not just focused on today
   Helps Boards stay focused on the big picture
    from a financial perspective
MULTI-YEAR FORECASTING

   Make clear what your assumptions are- many
    people are not educated about budgets
   Get people involved in the process
   Use funds, categories and programs just like
    your budgets so people are not having to
    relearn
   Make sure it accomplishes the reason/goal
RISK MANAGEMENT

   The District has established procedures that identify
    various risks, and provide for a comprehensive
    approach to reducing the impact of losses.
         Process to set objectives for risk management activities,
          identify and evaluate risks, and design a comprehensive
          program to protect the District at a reasonable cost.
         Policies and procedures relating to purchasing and
          reviewing insurance coverage.
         Monitors and evaluates its self-insurance program to
          ensure its feasibility.
CHILD NUTRITION PROGRAM

Food Services Program has a clear direction of
  and control over resources and services
 Identify barriers to student participation in the
  school meals program and implement strategies
  to eliminate barriers.
 Cost-efficiency benchmarks based on
  comparable industry standards.
 Implement improvements to increase revenue
  and reduce costs.
 The programs budget is based on departmental
  goals, revenue, and expenditure projections.
CHILD NUTRITION PROGRAM

   Financial control process includes an ongoing
    review of the program’s financial and
    management practices.
   Account for and report meals served by
    category.
   Evaluate purchasing practices to decrease
    costs and increase efficiency.
   Inventory control system that is appropriate to
    the size of the school CNP
CHILD NUTRITION PROGRAM

   System for receiving and storing food,
    supplies and equipment.
   Long-range plan for the replacement of
    equipment and facilities that includes
    preventive maintenance practices.
   Safety and environmental health practices
    and guidelines.
FEDERAL PROGRAMS

   Understand the Federal laws and guidelines.
   Coordinate with the instructional programs
   Communicate with your coordinators
DIFFERENT ROLES OF THE CFO

   Manage the business operations for the
    school district
   Supervise and direct departments and
    programs
   Coordinate with instructional programs
   Advisor to superintendent and board
   Represent the school district
“The key to a leader’s impact is sincerity.
 Before he can inspire with emotion, he must
 be swayed by it himself. Before he can move
 their tears, his own must flow. To convince
 them, he must himself believe.”

                        Winston Churchill
REFERENCES

   OPPAGA and the Auditor General, Best Practices
    and Indicators
   Conzemius, Anne and O’Neil, Jan (2001) Building
    Shared Responsibility for Student Learning.
   Finney,Larry(2005)Are You A Highly Effective
    School Business Official? Mobile, Alabama:
    Southeastern Association of School Business
    Officials.
   Smith,David(2002)The Role of School Business
    Official. Tuscaloosa, Alabama: Alabama Association
    of School Business Officials.

				
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