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Our Comprehensive Business Package is exactly what the name suggests; Comprehensive. We take care of everything that is related to your financial affairs. And we do mean everything.
In the Comprehensive Business Package we take care of not only the day-to-day accounting and business functions, we act as the financial and business advisor to the school leadership team and the board of directors. The role of financial and business advisor is the primary focus of this package, along with all of the features included in the Premier Accounting Package.
We have a combined total of over 35 years of business management experience. This fact alone separates us from the competition. But we also have over 35 years of experience in school finance, a very specialized field in and of itself. Now you can get this specialized expertise at a fraction of the cost to hire your own resident experts. Outsourcing your financial operations is much more cost effective for schools and non-profit organizations. It’s like having your own back office without the overhead. And we’re never more than a phone call away.
Quite often, we are asked to determine the impact of implementing a new idea or project. For instance, a principal may ask us if he can afford to do such and such. In that case, we don't just calculate the numbers for the immediate request. Instead, we sit down and say well, if you do it this way... this will be the immediate impact and this will be the long term impact of you making this decision.
Every decision has a business impact. We're there to provide the advice, guidance, and recommendations. Obviously the decision is up to principal and the board. But the principal and the board tends to rely upon us for our advice. So we attend board meetings and committee meetings, finance committee meetings, and building committee meetings. We act as your staffed advisors. Just as the major school district might have a chief financial officer that would sit with the board, the superintendent, and the cabinet, we would sit down with the school leadership team and the board of the school to help them make decisions.
Gerald L. Santilli - Partner
The Comprehensive Business Package includes the following services:
- Financial & Business Advisor - We will serve as your financial and business advisor. We will advise the board at board meetings, as well as attend facilities meetings, finance meetings, budget meetings, and any other meetings that are finance or business related. If you need us there, we will attend and provide advice on your behalf.
- Accounting Maintenance - We will keep your accounting records in accordance with Pennsylvania’s Chart of Accounts.
- Annual Budget - We will prepare your annual budget in conjunction with the CEO, the finance committee, and any other related bodies. We will present the new budget to the Board of Trustees. In addition, we will prepare the state mandated report on the budget in the required format.
- Budget Monitoring - We will monitor your authorized budget and report to the CEO and Board of Trustees periodically with respect to your budget.
- Vendors & Accounts Payable - We will process all of your vendor disbursements and accounts payable, deal with vendors and vendor relations, and also deal with vendors as it relates to procurement and purchasing.
- Financial Reporting - We will take responsibility for all of the state and federally mandated reports with the exception of the Annual Financial Report.
- Cash Monitoring - We will act as your treasurer and monitor related cash flows. We will also prepare a cash flow plan which will be updated periodically throughout the school year, to make sure that the school has enough cash to meet its needs. This includes the filing of state and federal reports on a timely basis.
- Statement Reconciliation - We will reconcile all of your bank statements as part of the accounting process.
- Social Security - We will prepare the annual estimates of social security payments for reimbursement by the Commonwealth of Pennsylvania.
- Grants and Entitlements - We will prepare grants budgets and other entitlement budgets for the state on an annual basis. This includes revisions to these budgets which can occur two or three times a year.
- Payroll and Personnel - We will act as your payroll and personnel department and serve as a liaison to a contracted payroll vendor.
- We will do all of the state pension reporting.
- We will file and prepare the reports for employee refunds of retirement contributions.
- We will facilitate and monitor the contracts for employee insurance with health care carriers.
- Liability Insurance - We will serve as a liaison to your liability insurance brokers and assist in obtaining quotes for insurance on a periodic basis.
- Audit Coordination - We will act as a liaison to an outside auditor, prepare the request for proposal, prepare the initial draft of statements for the auditors, do the accounting closing for the year, and answer all of the auditor’s questions. In addition, we will review the initial draft of the financial statement and meet with the audit committee of the board.
- Projection Reporting - We have the capability do to prepare a five year budgetary projection, usually very helpful for outside financing for facilities and other projects.
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