Finance

DEPARTMENT OF FINANCE

The Department of Business and Finance Services manages spending and purchases, payroll, and maintains the school district's general fund budget and other accounts.

Our goal is to design an efficient budget that enables our staff to provide the highest quality of education possible for students while being wary stewards of taxpayer dollars. We hope you enjoy the following information and that it provides some insight about how we manage and invest the school district’s funds.

• Approximately 85 percent of our daily operating budget pays salaries and benefits, leaving approximately 15 percent to operate and maintain our schools.
• Funding for the general fund budget is typically split between approximately 65 percent state funding and approximately 35 percent local funding.
• School System Financial Reports published by the Georgia Department of Education provide information about how funds are allocated in Georgia's public school systems. Our average spending per pupil during 2022 was $11,605, or $914 less than the state average of $12,519 per pupil.

AWARD OF DISTINCTION 

The Whitfield County Board of Education has been named a recipient of an Award of Distinction for Excellent Financial Reporting for fiscal years 2018, 2019, 2020 and 2021 by the Georgia Department of Audits and Accounts.

An award of distinction is presented to organizations that submit quality financial statements and supporting documentation in a timely manner, whose annual financial report is given an unmodified audit opinion and is free of any significant deficiencies or material weaknesses, and comply with all Transparency in Government requirements. 

More information on this honor can be found at the Georgia Deparment of Audits website.

PAYROLL

IV Employee Access Portal

Employee pay stubs and W-2 Tax and Wage Statements are available electronically through the IV Employee Access Portal. Log in by using your active directory username and password. Employees who have left the district can access their pay stubs and W-2 Tax and Wage Statements here. 

Employees who have problems or need corrections should email Payroll Services for support.

W-2 FREQUENTLY ASKED QUESTIONS

Who gets a W–2? All employees who received a paycheck for the 2022 calendar year will receive a W–2. Each employee will receive only one W–2 regardless of the number of jobs worked for the school system (for example, working as both a bus driver and as a food service employee).

Why are the wages shown on my W–2 different than on my check stub? The regular pay that is printed on your check stub will be different than your W–2 if you participate in a tax-sheltered annuity, the Section 125 plan, or the Teachers Retirement System. The following examples show how the taxable wages in the boxes on your W–2 form will be less than the gross pay shown on your check stubs because of tax exempt deductions:

Other information that you may see on your W–2 form include the following:

• Box 1 is your taxable wages for Federal Income Tax. If you participated in a tax-sheltered annuity, in the Section 125 plan, or in the Teachers Retirement System, your federal income tax wages will be reduced by the total of these deductions.
• Box 3 is your taxable wages for Social Security. If you participated in the Section 125 plan, your wages for social security will be reduced by your contributions.
• Box 16 is your taxable wages for State Income Tax. If you participated in a tax-sheltered annuity, in the Section 125 plan, or in the Teachers Retirement System, your state income tax wages will be reduced by the total of these deductions.
• CAF: Your contributions to the IRS Section 125 Plan (also called “IRS Cafeteria Plan”).
• RET: Your contributions to the Teacher Retirement System or Public School Retirement.
• CON: Your contributions to tax deductible organizations such as the United Way, etc.
• DUE: Your contributions to professional organizations such as Whitfield Ed. Assoc. etc.
• DD: Employer Sponsored Health (as of 2012 this information is required)
• E: Your contributions to a 403(b) Plan
• G: Your contributions to a 457(b) Plan

Some of these items may need to be entered into your income tax return. You may want to share this memo with the person who prepares your income tax returns.  I hope that this information will be helpful to you.

The deadline for employers to have W-2 files sent to the IRS this year is January 31, 2023.  Please take time to review your W-2 carefully at your earliest convenience so that we can address any issues prior to submitting our file to the IRS.  Please note that corrections to W-2’s that are reported after the deadline will result in the issuance of an amended W-2, known as a W-2C.

Items paid through Accounts Payable generally include all disbursements (other than payroll related items), such as vendor checks, employee travel reimbursements, contract labor, conference registration and utilities. 

Accounts payable checks are processed on Thursday of each week for invoices received and approved by noon Wednesday. Employees requesting travel reimbursements should have travel expense forms turned in no later than 60 days. If travel forms are received later than 60 days, the request will be denied for reimbursement. 

Invoices can be emailed to lynn.hardin@wcsga.net.