Page 57 - Contract Services 2022_web

Technology/InformaTIon ServIceS

FINANCE & New
New
ACCOUNTING QUALITY Service
Service
ASSURANCE REVIEW

Experienced school finance and accounting professionals will conduct a review of the district’s general ledger to assist with accuracy
of accounting records for compliance and audit purposes. This service heavily focuses on grant accounting and will provide districts
Nursing with additional support to navigate the increased complexity that accompanies the recent increase in federal grant sources.
Areas of review may include, but are not limited, to the following: confirm audit adjustments have been posted correctly, ensure
opening entries and fund balances reconcile to the audit, verify grant drawdowns are submitted timely and align with the general
ledger, affirm year-end entries have been posted as needed, review proposed budget amendments, and more!
Level of assistance needed and time required will vary by district and is dependent on the number of fund sources, current status of
Training district’s books, and level of support needed. Services will be customized to meet the district’s needs, and a daily rate will be charged.

SAMPLE ITEMS THAT MAY BE COVERED DURING THE REVIEW

Counseling
MIDYEAR BEFORE EOY CLOSE AFTER YEAR END

Confirm all audit adjusting entries Verify August payroll accruals have Confirm all bank reconciliations
are posted been accurately recorded are complete through fiscal year
end
Reconcile fund balances to audit Ensure grant expenditures and
revenues are balanced Ensure final budget amendments
Verify general ledger opening have been posted
balances reconcile to auditor Process final grant drawdowns,
opening entries and record revenue or receivables Confirm any entries in prior fiscal
year, made after end of year close,
For new grants, verify system Review grants in general ledger are also posted in the current fiscal
budget aligns with grant budget in and TEAL expenditure reports to year if balances were carried
TEAL Expenditure Reporting (by verify they align; if overspent, forward
object code) reallocate excess expenditures
before preparing final budget Verify that federal fund revenue
For continuing grants, verify amendments from prior year is posted to
system budget aligns with receivable
remaining grant funds (by object Ensure all expenditures for goods
code) or services received as of June Review general ledger budget by
30/August 31 are recorded fund/function for 199, 240, and
Review grant expenditure reports (payables) 599 to confirm it aligns with board
to validate drawdowns are adopted budgets (confirm prior to
submitted timely and accurately Ensure spending by Program fall snapshot)
align with general ledger (by object Intent Codes meets required
code) spending by special program Confirm payroll accruals have
allotment based on most current been reversed prior to first grant
run of Omar’s template drawdown of the new fiscal year
Review expenditures by function
for overages that would require an
amendment
Review proposed final budget
amendments to be presented at
final board meeting of fiscal year

$950/DAY OR $550/HALF DAY
CONTACT LAURA RATLIFF FOR MORE
NONDISCRIMINATION NOTICE: Region 3 ESC does not discriminate against any person on the basis
INFORMATION ABOUT THIS SERVICE
of race, color, national origin, gender, disability, or age for admission, treatment, or participation in
its educational programs, services and activities, or employment.