FY 2012 Operating Budget and FY 2013-2017 Financial ... - Septa

Finance and Planning
EXPENSES
Amounts in Thousands (‘000)
Net Material
Labor & Services Total
Accounting $ 2,793 $ 671 $ 3,464
Capital Budget and Grant Development 257 7 264
Finance Administration 899 27 926
Operating Budget 777 202 979
Revenue, Ridership and Sales 3,224 1,479 4,703
Service Planning 2,618 56 2,674
Strategic Planning and Analysis 324 11 335
TOTAL $ 10,892 $ 2,453 $ 13,345
ACCOUNTING
Principal Responsibilities
General Accounting - Produces timely and accurate financial reports and properly
maintains the accounting system and related internal control structure which includes
managing the monthly and annual financial general ledger close process. Prepares and
issues monthly financial and statistical reports to the SEPTA Board and senior
management. Prepares required quarterly and audited financial reports that are issued
to various financial institutions and government agencies that either provide debt
financing or subsidies to the Authority.
Accounts Payable, Billings and Cash Management - Processes vendor payments;
ensures items processed are correctly recorded; generates billings, captures and reports
capital project costs. Manages the Authority's cash resources.
Payroll - Processes Authority payroll in a timely and accurate manner. Also ensures that
payroll-related contractual entitlements are properly reflected in accounting records and
paid to individual employees.
Revenue Accounting, Operating Grants, Accounts Receivable and Fixed Assets -
Maintains accounting controls over operating revenues, operating subsidy grants,
operating receivables and fixed assets. Prepares applications and billings for operating
and senior citizen subsidies and accounts for capitalization and disposition of grant and
non-grant property and related depreciation and contributed capital.
SEPTA Fiscal Year 2012 Operating Budget 107