Financial Operations & Reporting
Central Management provides a variety of centralized general accounting services for State Agencies: Forms 1099 REPORTING, IRS Backup Withholding (BWH), Electronic Fund Transfers (EFT), Manual Warrants, PERA Retiree Employer Contribution Reporting, Vendor Certification, COFRS Vendor File Administration, Vendor Payment Services and Garnishments, Warrant Control and Distribution, Warrant Cancellation, Warrant Reissue, Expired Warrants, IRS Tax Levies.
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 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.