OUR
SERVICES
Stenmark is a full-service charter
school accounting firm that can perform all of the functions
of a business manager…at a fraction of the price. Our
years of expertise, proprietary internal system, and rigid
processes allow us to easily run your school district from
a financial perspective. We feel very confident that we can
provide value to your school by performing the services outlined
below. All of the following services are provided in our standard
contracts:
Accounting/Finance
- Assist new schools in obtaining federal and
state tax ID numbers, 501(c)(3) status with the IRS, and
re-employment assessment with Minnesota Jobs and Training
- Provide basic UFARS training to your staff
- Provide assistance establishing a working budget
- Create a financial chart of accounts specific
to your needs and enter the budgets into the financial accounting
system
- Create accounts payable checks from approved
invoices and requests for payments. We can be authorized
to sign for our schools or can forward them to your staff
for signature and mailing
- Enter cash receipts into the accounting system
that outline source and purpose of monies received.
- Receipt all IDEAS and Non-IDEAS payments through
the State of Minnesota
- Provide assistance in the application and administration
of state and federal programs such as special education,
ESL, assurance of mastery, and federal TITLE I, II, V, and
VI
- Provide monthly financial statements and bank
reconciliations
- Prepare and coordinate the audit process performed
by an independent audit firm
- Submit appropriate un-audited and audited UFARS
data to the State of Minnesota within the required time
frame
- Create 1099 miscellaneous income forms for
contracted laborers
Payroll
- Assist in obtaining W4 and I9 forms from all
school employees
- Set up all employees in our payroll system
with ties to the appropriate TRA or PERA contribution
- Set up all licensed and non-licensed employees
in their associated retirement plan
- Record employee benefits including insurance,
tax-sheltered annuities, and other voluntary and involuntary
deductions
- Create a payroll schedule of pay periods on
a bi-weekly, semi-monthly, or monthly pay cycle
- Create payrolls and process through direct
deposit or forward checks to school for signature and distribution
- File and pay retirement and statutory deductions
electronically to the appropriate agencies
- Record payroll expenditures in the accounting
system
- Provide detailed payroll reports for each pay
period.
- Produce quarterly reports including: state
re-employment, state and federal income tax, FICA Medicare
reports (941’s)
- Calculate and prepare W2 forms for all school
employees and file with the State Department and Federal
Internal Revenue Service.
OTHER SERVICES
- MARSS reporting to the State of Minnesota
- Grant planning and coordination with governing
body
- Cash flow projection and monitoring
- What-if analysis for both financial and capital
investments
- Assist in preparing capital budgets for location
changes
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