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Reconciling Cash to County Treasurer

Learn the essentials of reconciling cash to your county treasurer at MASBO's New Clerk Academy. Discover proven steps, rules, and tools to ensure accuracy in cash handling. Get practical advice on tracking revenue, internal transfers, and resolving discrepancies promptly.

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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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