The Centralized Accounting Division was established in September 2009 for small agencies to drive efficiencies by reducing overall state costs of back-office expenses because services are pooled using fewer employees and standardizes business processes across all business units. The Centralized Accounting Division operates as an internal service fund where it charges business units for accounting, payroll, contract creation, procurement services and other back-office supports. Agencies utilizing Centralized Accounting are charged a fee based on the number of transactions conducted for those agencies. The fees charged to each agency are significantly less than the cost of maintaining the necessary staff, computers, training, etc., that would be necessary to conduct these transactions on their own with dedicated internal resources.
Centralized Accounting personnel consists of 6 staff members, including a Director.
The Centralized Accounting division provides various accounting functions. The list of services includes accounts payable; accounts receivable; asset management; cashbook reconciliation; contract/grant agreement preparation and tracking through electronic signature process; general ledger; invoicing; payroll; payroll allocation; purchasing; project costing; federal draw; and travel arrangements. Centralized Accounting enters into a service level agreement with agencies through a memorandum of understandings which specifies the cost and quality of service.
SBA Centralized Accounting Division Organization Chart
Updated 12.08.2022