Overview for Financial Management

Contents -

Overview for Financial Management

The Financial Management functions support the creation of payment transactions for all payments created by the CCIS, the creation and maintenance of fund accounts and balances, and the adjustment of payments paid.

Financial Management within the CCIS encompasses three major functions:

Maintain Accounts

   Set up fund allocations each fiscal year.

   Transfer funds as necessary throughout the year to maintain adequate balances for payments.

   Adjust account balances due to revenue from fees and recoupments.

Adjust Payments

   Compute payment differential to a past payment caused by changing a payment determinant.

   Recoup funds either through payment reduction or receipt of payment.

Process Payment

   Process payments for attendance, child care slots, other contracted services, grants, bonuses, and fees.

   Create an extract file for creation of checks or electronic payments by Vision, the State's financial system.

   Receive the payment file from Vision to record payment dates and Vision Voucher ID's.

The functions described in the following diagrams and activity descriptions are fully explained in these Chapters:

Financial Management

Attendance

Payments