By Mary A. Crisafulli
WALTON - Watershed Agricultural Council (WAC) Finance Director Carol Bishop gave executive directors an overview of the finance department duties at the regular meeting on May 28.
Responsibilities of the department include transaction processing, reconciliations, report and analysis, cash management, financial accounting software and data management, organization of the budget, independent audit, insurance management, and contract and tax compliance.
WAC fiscal year begins July 1, where the department has weekly, monthly, quarterly, and annual duties, explained Bishop. Payroll and check runs are due biweekly on opposite weeks. employee benefits, credit cards, financial reports, and New York tax returns are completed monthly. New York City Department of Environmental Protection (DEP) program reports are due quarterly along with other program reports. The WAC budget, full DEP status reports, financial statement of audit, and federal and state tax filings are all due annually.
The DEP contracts require a significant overview through a detailed process, explained Bishop. The payment requests are due 45 days following the end of each quarter. There are no other avenues for WAC to obtain or get payment from DEP, explained Bishop. If there are any issues with the payment request, adjustments or corrections are not accepted, Bishop continued, "Which makes it very important to get correct."
Once payment requests are submitted DEP has five days to review and approve or reject. Next DEP sends the request to the New York City Office of Engineering and Audit for approval before submitting the payment to WAC. DEP can disallow specific expenses that are deducted from WAC invoices, explained Bishop. WAC has an opportunity to dispute for such expenses to be allowed.
There are three current and four successor DEP contracts. Three current contracts include a stewardship program 20-year term for $12 million, an easement program extended to March 2025 for over $30 million, and an agricultural, forestry, and environmental program ending in March 2025 for $92 million. Successor contracts include continued programs in stewardship, easement, and agricultural, forestry, and environmental, with an operating contract.
The finance department has four staff members besides Bishop including Payroll, Fringe Benefits, and DP Specialist Patricia Bowker, staff accountants Jaclyn Dunlop, and Amy Harby, and Finance Administrative Assistant Trish Winner. According to Bishop, the department is well-staffed. "Everyone is really great at helping out," she said.
"I know it's not easy and its really complicated," said Executive Board Member Fred Huneke, "I want to express my appreciation for Carol and her staff for doing a tremendous job here." He continued to remind the board that finances are their responsibility and it is imperative that they all have an understanding of the department.
WAC Board President Wayland "Bud" Gladstone echoed Huneke, "We certainly appreciate what you and your staff do."
There will be no department spotlight in June. The next spotlight scheduled for July will be about easements.
In another discussion, WAC board members approved adjustments to the staff retirement plan. WAC staff member Jason Helmbold explained that the new plan will be a reduction in investment and administrative fees of roughly .9% to 1%. "That's literally thousands of dollars in their pocket," he said. Employees will now have a variety of options for funds and the plan includes a rough deferral of taxes.
The council entered an executive session to discuss data-sharing policy adjustments and contract negotiations.
The next WAC council meeting is scheduled Tuesday, June 25 at 10 a.m.
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