Zoom - Recording Dec 16
Covering
Intro & 1099 Start at 0 ends at 35:48
W-2 Start at 35.48
1st Payroll of the new year and Tax Tables – start at 1:39
ACA Start at 1:43:50 - More information to follow.
https://us02web.zoom.us/rec/play/EkmYeN-hUQT0uuJlcMybfmA1oKlWgJm4g2mR12Cgo_H83leIDQhJIyNLqlv7ROkqWWXpe7wTjldZNU-1.q7MRaDcsNe7UiFNG?autoplay=true&startTime=1608130953000
January Business
at a Glance
First Payroll of the Calendar Year Checklist
Process W-2 Forms
Process 1099 Forms
Finance
Complete the template estimate using first semester data.
In odd years, begin bank depository contract renewal or prepare for RFP or RFQ.
Complete indirect cost rate application if needed. (Note: LEAs claiming SHARS/Medicaid reimbursement will usually need to do this.)
Coordinate completion of the audit for August 31st audit preparation. (Due by January 28th.)
• Review the audit draft, and pay attention to the items that impact FIRST rating: unmodified audit opinion, no material weaknesses in internal controls, no instances of noncompliance material to financial statements, and positive net assets on the Statement of Net Assets.
• Ensure that the board will accept the audit prior to TEA's due date.
• Verify if the auditor or LEA will electronically submit the audit to TEA.
• Verify if the auditor will send to MAC if the LEA has outstanding bonds. Verify if any other entities should receive a copy of the audit (grant agencies, etc.).
• Publish the audit Statement of Revenues, Expenditures, and Changes in Fund Balances in the local newspaper.
• Post audit opening balances, if needed. Review the opening balances and correct them as needed.
Fiscal agents should send member districts 033 records to use in reviewing final prior year compliance with IDEA-B MOE.
PEIMS
Complete the PEIMS Mid-Year submission.
Human Resources
Complete the W-2 filing to the SSA. (Due by Feb 1)
Complete ACA 1095 reporting.
Complete fourth quarter payroll reports for 941 and unemployment.
Compare tax tables to IRS Circular E. After the last December payroll or prior to the first January payroll, upload the new tax tables.
Review the limits in payroll tax tables for Social Security and Medicare wages as published in the IRS Circular E.
Remind employees to file a new W-4 to claim exemption from withholding if needed.
Our Workdays that will start January 2021,
attendees will need to
register in PitStop
and on the Google Workday form:
https://docs.google.com/forms/d/e/1FAIpQLScK2rXWGm26MU4FrOJ4F5VwA6JLKfnZ6rFKbXEnWw97SlLRDw/viewform?usp=sf_link
Sign up for a face-to-face Workday's by noon of the preceding Monday by completing the Workday Request on our website.
TxEIS Calendar:
January 12 - Workday - Callahan - 1099, W-2 & ACA
January 14 - Resubmit Fall PEIMS due to TEA
January 15 - Mid Year PEIMS due to ESC for Review
January 27 - Business Forum 1st half
TxEIS Workday - 2nd half
January 28 - Mid Year PEIMS Due to TEA
TxEIS Workday - 1099, W-2, ACA Callahan
For Help
Please use the ticket system on our website, send an email, or leave a message on our voicemail for Help.
General Information
Send Phyllis Provan an email at pprovan@esc14.net on any meetings that you feel would be beneficial to our district staff. We just need to know what you would like to learn or get a refresher course on.