Finance

Finance

The Warrensville Heights City School District Treasurer’s Office performs all of the financial functions for the School District. The Payroll Department processes all facets of the payroll process including the calculations for net pay checks and actual remittance of direct deposits (actual paychecks) for each employee. The Payroll Department also completes all of the required tax reporting associated with payroll such as I.R.S., State, and Local income tax withheld deductions, remittances to STRS (State Teachers Retirement System) and SERS (School Employee Retirement System).

 

  • Accounts Payable processes all payments to vendors within the purchase order process of the District.

  • The Assistant Treasurer assists with all daily operations of the office and period closings including the month end process and year end process. The Assistant Treasurer also performs maintenance on State and Federal Grants including project cash requests.

  • The Secretary to the Treasurer assists by being the primary contact for the office, makes arrangements for the Board of Education (meetings and travel), and various responsibilities delegated by the Treasurer.

  • The CFO Treasurer of the District reports the Permanent Appropriations of the District to the Cuyahoga County Auditor, prepares the Five Year Forecasts for the District, and provides support for the overall vision and financial horizon of the School District.


Five Year Forecast

The Five Year Forecast is a financial projection document that is due to the Ohio Department of Education twice a year in October and May. The Ohio Department of Education reviews the financial forecast of the school district to assess the overall financial capacity of the district to continue with current operations. School Districts must provide further details on the financial plan if more than two of the five projected school years are in the red (have a negative balance of funds). The Five Year Forecast reports on the General Fund of the School District, including the total revenue sources and total expenditures of the district. Three historical years of financial information are presented to establish prior year activity, while five years are projected into the future. The notes of the five year forecast describe the details associated with each line item in the forecast. Please feel free to review the attached document entitled “How to Read the Five Year Forecast”.

 




 

Fiscal Reporting

The Ohio State Auditor presents a report on the financial statements of the District on an annual basis. The audit is based on a sample of transactions that are tested for compliance with regulations set forth by the Governmental Accounting Standards Board and Generally Accepted Accounting Principles. The School District operates on the cash basis of accounting (cash in and cash out). The financial statements are converted to an accrual basis and then ultimately audited by the Ohio State Auditor’s office. The audit usually includes an onsite visit to the central office for a period of time to test and review the supporting financial documents of the District. Some of the key focal points of the State Audited Financial Report are the Independent Auditor’s Report and the Notes to the Basic Financial Statements.

 

Audited Financial Statements

 

headshotDr. Michael A. Rock, CPA
Treasurer
216.364.1007
[email protected]

Marie Spivey
Assistant Treasurer
216.364.1008
[email protected]


headshotAlicia Durett
Secretary to the Treasurer
216.364.1011
[email protected]

headshotCharity Pollard
Bookkeeper
216.364.1012
[email protected]

 

Eileen Kordic
Accounts Payable
216.364.1009
[email protected]

Catherine Dennard
Bookkeeper/Payroll
216.364.1010

 

View text-based website