[Busmgrs] Technical changes to PERS Intercept payments

[Carol Haight]

Carol L. Haight

Business Manager/Deputy Clerk

*Willamina School District 30J*

P.O. Box 1000

1100 N.E. Oaken Hills Drive

Willamina,  OR 97396

Telephone:  (503) 876-1502

Fax:  (503) 876-3610







*From:* busmgrs [mailto:busmgrs-bounces at listsmart.osl.state.or.us] *On
Behalf Of *ELLIOTT Michael S
*Sent:* Monday, June 08, 2015 11:17 AM
*To:* 'Busmgrs at listsmart.osl.state.or.us' (Busmgrs at listsmart.osl.state.or.us
)
*Cc:* 'Samuels, Carol'; WILTFONG Michael
*Subject:* [Busmgrs] Technical changes to PERS Intercept payments



Dear Business Managers,



We have been working with Wells Fargo to find a more efficient and secure
way to provide PERS intercept payments to Wells Fargo on behalf of the
districts. Thus, for those who do not have PERS intercept payments, you can
ignore this email. The rest, please review the changes.



The current practice is for Wells Fargo to send invoice payments every
month for payment. ODE enters the data into the system and provides the
intercept payments on behalf of the districts. The good news is the
payments rarely change, if ever, between the months. The payments are set
at the beginning of the year and stay the same. However, currently ODE has
to enter the data each month into the system, creating more chance for
error. While I strive to be perfect, I know there is still the chance I
might enter the data wrong in any given month. By removing that data entry
step, we increase the integrity of the payment system and will be more
efficient.



The proposed change is to alter that data entry step as follows: Instead of
entering the same data each month, ODE would use the data as provided by
Wells Fargo at the beginning of the year for each payment from July through
March. The July payment would still be double and the rest of the months
would be identical to each other. The chance for any changes would come in
April when Wells Fargo would send an invoice to ODE that would have any
updates that need to be made. Thus a data entry step will be removed for
most of the payment, reducing chance for error and ensuring uniform
payments throughout the year. We don’t expect any updates to be significant
in terms of dollars; usually the changes are to catch rounding errors, so a
few pennies for any given district.



The revised intercept agreement with Exhibit B that controls the payment
mechanics is attached for your review. Please note none of these changes
impact the consequences if a district fails to submit its audit on time. If
a district does not submit an audit, Wells Fargo will be notified and the
district will continue to have to make the payment directly to Wells Fargo.



Included in the attachment is a sheet for each district affected to sign
authorizing acceptance of the agreement. If each district agrees with the
proposed changes, please sign the signature page for each year that the
district has a bond, scan and return to me. If there are any questions,
please let me know.



After reviewing the documents and this email, please let me know if you
have any questions.



Thank you,

Michael



Michael Elliott

State School Fund Coordinator | Office of Finance & Administration|School
Finance & Pupil Transportation Unit| Oregon Department of Education

Office: 503.947.5627 | Fax: 503.378.5156 | *michael.s.elliott at state.or.us
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