WHAT DO YOU NEED TO PROCESS PAYROLL?


 Employer identification number  State and local ID numbers


 Employee personal information (legal name, address, date of birth, Social Security number)


 Employee tax information (Form W-4 for full- and part-time employees and Form W-9 for con- tract employees)


 Previous payroll records


employer-sponsored retirement plans, health insurance, life insurance, and flexible spending accounts. There is a monthly fee for the flexible spending account that is usu- ally passed through to the employee.


Other Considerations


In addition, direct deposit and other reporting items need attention.


Direct deposit. Most payroll systems can split net payroll checks into multiple checking and savings


accounts. With the increase in cyber fraud, all direct deposit changes (especially changing banks) should be done in person, not through email.


Other reporting. On the 15th of each month, the payroll office files a report to the U.S. Department of Labor. On the 30th of each month the district is required to report to the state site all new employees (for child support purposes).


Attention to Detail


The auditors will spend time on payroll and agency. Make sure that contracts align to payroll and that you have documentation for everything (including errors). Payroll is 80% of your budget; when something goes wrong, it becomes a total headache (and your problem). Having a working knowledge of the moving parts that constitute each payroll run can lessen your stress if any issues arise. If you have any questions or concerns, reach out to your fellow business administrators.


Maria Anne Parry, a member of ASBO International’s Editorial Advisory Committee, is school business administrator/ secretary to the board for Monmouth Regional High School in Tinton Falls, New Jersey. Email: mparry@monmouthregional. net


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