Financial Operations & Reporting

Central Management Unit

The Central Management Unit (CMU) provides a variety of centralized, professional and technical services and assistance for State departments including: 1099 Tax Reporting, Warrant and Electronic Fund Transfer (EFT) Control, Disbursement and Escheatment Management, PERA Reporting for Retirees Working as Independent Contractors, Vendor/Customer Modification and Maintenance, Vendor Intercept Table Management, and IRS Tax Levy Processing. CMU manages Vendor Self Service (VSS) updates to the Vendor/Customer tables in CORE for external State vendors. The unit as related to functional areas recommends and implements statewide accounting policies and procedures per best business practices, rules and standards; analyzes business issues and options as well as provides training. The CMU is the business process owner for unit functions in CORE.
 

Central Payroll Services

Central Payroll provides professional and technical guidance to Payroll, Human Resources and Benefits personnel in agencies.  Processes payroll and distributes employees' earnings correctly and timely. Sets statewide payroll policies  Collects deductions from each employee required by law including taxes, PERA, and garnishments and voluntary deductions such as medical insurance, 401K, and 457.  Distributes payments to federal and state agencies, courts, and other vendors.  Reconciles overall payroll.
 

Financial Services Unit

The Financial Services Unit serves as liaison between the State Controller and operating agencies to oversee the financial affairs of Colorado state government. Provides professional and technical assistance to agencies regarding the interpretation of statutes, fiscal rules, and other accounting authoritative guidelines
 

Reporting

Reporting provides financial information for the citizen, legislator, and government manager. Produces monthly, quarterly and annual reports such as; the Comprehensive Annual Financial Report, monthly revenue summaries, quarterly financial reports, Schedule of TABOR Computations, and other statutory and ad hoc reports. 
 

Indirect Cost Plans

Indirect Cost Plans prepare the federal statewide indirect cost allocation plan and coordinates indirect cost negotiations with the federal government. Prepares the statewide budget/cash indirect cost allocation plan and provides support for the Joint Budget Committee in explaining and defending allocations. Reviews agency federal indirect cost rate proposals requested by agencies. Provides technical assistance and training to agencies related to cost accounting matters and assists agencies in developing and implementing cost identification and allocation systems. 
 

Financial Support Services

Financial Support Services approves departmental budgetary transactions.  Performs statewide reconciliations, supports Consulting and Analysis, and assists in the Reporting in the preparation of a number of schedules supporting the State’s financial statements and other reporting.
 

Statewide Internal Audit

Statewide Internal Audit provides the State Controller the ability to conduct audits of all state agencies to assure compliance with statutes, fiscal rules, and generally accepted accounting principles.