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General Accounting
Vincent Chiu, Director
125 S. Clark St., 14th Floor
Chicago, IL 60603
Telephone: 773.553.2720
Fax: 773.553.2721
The Bureau of General Accounting efficiently and effectively maintains
an accurate general ledger and accounting system, prepares financial reports,
files reimbursable claims, and maximizes the receipt of revenues form
federal, state and local programs.
Accomplishments
- Received the Government Finance Officers Association's Certificate
of Achievement for Excellence in Financial Reporting since fiscal
year 1995 that is presented to government units whose Comprehensive
Annual Financial Report (CAFR) achieves the highest standards in government
and accounting and reporting.
- Received Association of School Business Officials International's
Certificate of Excellence in Financial Reporting since
fiscal year 1998.
- Completed GASB 34 assessment phase to maintain compliance with changes
in government accounting practices, concentrating on fixed asset evaluation.
- Revised the School Internal Accounts Manual providing schools with
further guidance and direction about how to spend and record funds raised
by the schools.
- Began establishing client relationships with grant managers and began
new monitoring activities for all grants to reduce under and over spending
grants.
- Wrote a fixed asset policy for schools and enhanced Land Building
database to better identify types of improvements made to schools.
- Implemented the Oracle General Ledger and successfully converted legacy
to the new system.
- Significantly reduced audit findings in annual audit.
- Provided unaudited quarterly financial statement for the first time
in CPS history.
Goals
- Enhance the scope of analytical functions of the Revenue Division
in order to provide review of all income sources.
- Provide grant administrators with comprehensive financial operating
reports to monitor expenditures.
- Accelerate year-end closing activities to produce Comprehensive Annual
Financial Report earlier.
- Provide grant administrators with comprehensive financial operating
results.
- Implement other Oracle Modules-Accounts Receivable, Fixed Assets,
Grants and Cash Management.
- Complete and update the Accounting Manual.
Forms Link
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