❏ Bank Reconciliation

❏ Human Resources - New Employee Setup

❏ Human Resources - TRS Processing

❏ Run Payroll

❏ Payroll Liability Wire Transfer Transactions

❏ Purchasing - Requisition Process

❏ Verify all cash receipts are entered for the month.

• Pull TEA payment report and post receipts dated during the current month.
• Verify that NSLP breakfast and lunch funds were received (districts only have 60 days to claim after months ends or will lose that months child nutrition program reimbursement).

❏ Verify all check payments are entered.

• 1099 reporting - Obtain W-9 forms for any new vendors.

❏ Verify that all fund transfers are recorded.

❏ Record interest earned on bank accounts and investments.

❏ Record received commodities.

❏ Reconcile bank statements to general ledger cash balances.

• Be certain IRS and TRS withdrawals show on the monthly bank statement. If not, determine if a payment was overlooked.
• Investigate any prior month deposits in transit that do not clear.
• Review outstanding checks for any items that are old or seem unreasonable.

❏ Reconcile investment account statements to general ledger account balances.

• Prepare monthly/quarterly investment report for the board. (required by statute)

❏ Check on outstanding checks to determine whether action needs to be taken.

❏ Reconcile Due To and Due From accounts (126X/217X).

❏ Reconcile specific general ledger accounts such as “receivables” (12XX).

❏ Review general ledger accounts for any expenditures with 00 for function; 000 for organization, or 00 for program intent code.

❏ Review and validate remaining balances in the payroll clearing fund (163).

❏ Report federal and state grant expenditures to the LEA to file for reimbursement.

❏ Review board reports (no detail) for percent expended compared to % expected for this month of the year; if any vary more than 5% above or below, review the detail line item budgets to determine the cause and whether an item was incorrectly coded.

• Prepare budget amendments as needed.

❏ Keep superintendent and the board informed of finance issues.

❏ Send staff salary data to the LEA to report through the FSP system.

❏ Check Foundation and Available Payment information. (posted on TEA)

❏ Verify time and effort, and make any necessary payroll adjustments for those employees who are required to track time and effort monthly.

❏ Monitor cash balances (daily) to ensure all LEA funds are secured.

❏ Draw down federal funds by this date (to avoid possible high-risk auditee status).

❏ New Hire Reporting – generate Human Resources > Reports > HR Reports > Personnel Reports > HRS1550 - New Hire Report

❏ Verify all payroll transactions are recorded or interfaced.

• Regular payroll(s) is/are processed and interfaced.
• Supplemental payroll(s) is/are processed and interfaced.
• Payroll transfer has been posted automatically by the system or manually posted.
• Payroll deduction checks are processed and/or posted.
• TRS and IRS wires are submitted (must be done immediately after payroll) and recorded.
• TRS reports are filed and the status is complete.
• TRS On-Behalf calculations are recorded for the month.
• Other payroll related items such as recognizing rent income are posted.
• Verify all new hire reporting is done.

❏ Reconcile accrued payroll in HR to 216X (accrued wages) and 22XX (accrued benefits).