A Clear Line of Sight Into District Finances
Posted 3 weeks ago by Garrett Filloramo
Let’s face it, the ritual of balancing the books is likely never fun. The volume alone of debits and deposits, even in the smallest districts, take on a life of their own; time plays its tricks on memory and accuracy, (remember the old joke, Who had the watercress salad?), and human error is always a possibility.
With the Script Business Process Management tool, however, school districts can leave all those worries behind, and not only balance their books, but do so efficiently, with the added ability to automatically track, manage, and report school finances.
This extremely powerful tool has already helped districts find a number of discrepancies in their finances, both small and large, in areas such as funds owed by students, parents, vendors, etc., and can record rate increases, projected product costs, and operational budgets.
No matter how small or large a district is, it can benefit from having a clear line of sight into its finances and financial accounting, as well as the convenience of downloading financial reports for the week, month, or year to a CSV file format, and have all of that data at their disposal for tax season, audits, or just for peace of mind.
How It Works
Script BPM allows districts to process payments through the BPM platform from outside of the organization, and deposit payments directly into the district’s bank account. In other words, what Script does is simply allow the processing of payments into a district’s bank account from outside of the organization, very similar to how PayPal operates. It is an extremely useful, expedient way to process and account for money flowing into the district.
Moreover, K-12 users can rest assured their assets are well protected by the Script extremely secure 256 bit, end-to-end (E2EE) encryption, the most secure file transfer protocol currently available.
In addition, districts can also manually input the money, (again, similar to PayPal), received from cash and checks into the system to keep track of that as well. The money taken in is then tallied up by BPM system, and districts can view the amount of money taken in vs. the amount of money they are expected to collect.
For example, if 10 kids are signed up for an activity for $10 each, but only $70 is collected, the school can see who hasn’t paid and make sure to collect that money. Districts can also download financial reports for the week, month, or year in a CSV and have all of that data at their disposal for tax season, audits, or just for peace of mind.
Another example may be if a previously allocated fund were never used, then tracking those monies will not be lost in the daily operations of a school’s functioning, and will appear in the plus-column of the Script automated reports.
The financial function of the Script BPM may be the most important, powerful, useful function the BPM tool offers for all any size school district. Instead of pouring over the books, use the time to saved or extra funds found to invest in more meaningful ways to grow and nourish the schools in your districts.
Want to learn more about how Script can provide a clear line of sight into your district’s finances and automate all of your school district’s processes? Visit www.scriptapp.com to book a demo today and see how we can help!