District 49's accounting department processes $125 million of public funds every year. Made up of 16 individual funds housed in 40 individual bank accounts at eight different financial institutions, the department streamlines the complex financial structure of the district. Employees work to every day to maximize efficiency and effectiveness of the spend and protect the integrity of the funds and the accounting records that officially document how money is received and spent.
In the accounting department, District 49 employees works with over 5,000 individual vendors each year and processes 12,500 A/P checks and 17,500 purchasing card transactions to pay for supplies and services to support the education program.
In addition, District 49 works with over 50 different granting authorities that contribute funds to the district beyond normal program formula funding. These granting authorities, which may be federal or state government agencies; or may derive from local and other private sector entities, each present a specific set of rules and requirements for receiving and spending their funds. Those requirements are validated to the granting authorities through numerous reports and specific reviews or audits. The accounting department ensures all of this happens with minimal disruption to the educational program.