Finance

The finance department supports the achievement of the school division’s mission by providing useful and accurate information, efficient services, and statistical analysis necessary for sound decision making. The department is responsible for the accounting of all financial transactions: payroll, accounts payable, revenue, purchasing services, financial forecasting and reporting, risk management, fixed assets, budget, and student activity fund accounting. 

The finance department demonstrates prudent stewardship of financial resources with integrity, transparency, and high ethical standards. The department also develops and implements a system of internal controls to protect and safeguard Frederick County Public Schools financial assets. Audits of financial operations, financial statements, internal controls and student activity funds are performed internally and externally by independent public accounting firms annually.

The accounts payable function of the finance department processes payments to all vendors providing supplies or services on behalf of the division, as well as, processes payments for employee reimbursements. The accounts payable function also provides training and quality assistance to schools and departments.

The revenue/accounts receivable function of the finance department monitors the collection of all anticipated revenues from all sources: state, federal, county and local miscellaneous funds. This function supports the management of grants as well as processing and aging invoices for miscellaneous receivables.

The budget function of the finance department provides clear, accurate, timely, and relevant financial information and analysis to assist the School Board, Leadership Team, and other stakeholders in sound decision-making. The budget function provides the framework for all financial decisions through the budget process; ensures the budget is balanced and meets divisionwide needs; meets the Superintendent’s and School Board’s Budget Priorities; and reflects the most accurate up-to-date information available. To provide timely transparency, financial information is shared on the division’s website for consumption by the Board of Supervisors, community groups, staff, parents and other individuals.

The payroll function of the finance department is to ensure the accurate and timely payment of wages to FCPS employees. Other responsibilities include deductions for employees, managing pay and leave-related data, tax-related data, direct deposit information, and time and attendance data from across all work locations. 

The procurement function of the finance department serves as the central procurement authority for FCPS and is responsible for direct purchasing and contracting services for the division. Goods and services are purchased in conformance with the Virginia Public Procurement Act and School Board Policy.  Maximum feasible competition will be sought, giving all qualified vendors access to School Board business with no offeror arbitrarily or capriciously excluded. Procurement Services enables Frederick County Public Schools to purchase high quality goods and services at a reasonable cost and to conduct purchasing procedures in a fair and impartial manner without impropriety or the appearance of impropriety. The procurement function also monitors the division’s fixed assets.