The Office of the State Controller has the following functions:
- Statewide support Bureau in all areas of responsibility
- Statewide accounting and appropriation control
- Review, approve and consolidate all accounting transactions for all agencies within the Executive, Legislative and Judicial branches of government
- Establish and monitor State accounting policies and procedures
- Establish and administer State travel and expense policies
- Review, compile and report all Statewide accounting information
- Review Statewide and agency level internal controls.
The Office of the State Controller has seven divisions:
Responsible for all Financial Reporting, which is prepared by the Controller and Deputy State Controller, and cash forecasting. State accounting policies and procedures are developed, monitored and subject to be reviewed and approved by the Controller. State Travel and Expense policy is developed and monitored, Federal Tax Reporting, US Census Reporting, and prepares the Comprehensive Annual Financial Report. This section is also responsible for compiling the Statewide Cost Allocation Plan (STA-CAP).
ERP Business Operations
The ERP (Enterprise Resource Planning) Business Operations division is responsible for the day-to-day business operations and functional development and support of the Controller's Office enterprise systems, including the Advantage Financial System and Data Warehouse Systems. The Division is also responsible for researching and analyzing business needs, formulating and defining scope, objectives and enhancements to existing OSC systems to meet the business needs of all departments using those enterprise systems.
Financial Reporting and Analysis
Prepares and distributes the State's Comprehensive Annual Financial Report, prepared in accordance with generally accepted accounting principles (GAAP); the States Schedule of Expenditures of Financial Awards (SEFA), prepared in accordance with Uniform Guidance; the State's Monthly Undedicated Revenue Reports for the General and Highway Funds; and, selected budgetary financial information, prepared on the States modified cash basis of accounting. Responsible for coordinating the annual closing process with all State agencies and Component Units; coordinating the annual financial audit and Statewide Single Audit with the State Auditor.
Agency liaisons provide technical assistance, training and information to CFOs and other financial personnel statewide to develop sound internal controls, to properly record financial transactions, and to comply with all applicable laws and rules relating to financial matters.
This section also coordinates the reporting of general fixed assets and trust and proprietary fund assets.
General Accounting & Records Management
Monitors expenditures against appropriations, allotment and cash; processing Financial and Budget Orders; review and approve cash receipts; reconcile cash accounts, accounts receivable and other balance sheet accounts; control and reconcile advance accounts; review and approve internal transfers and payments; maintain the State vendor file; handles external interfaces and prepares checks for disbursement.
The pre-audit function within the division reviews larger payments processed through the State's accounting system before such payments are made. The pre-audit function also reviews all sizes of payments on a sample basis to ensure control procedures are consistent.
Coordinates record retention with State Archives.
Reviews statewide and agency level internal controls to manage risk of loss or misuse of assets, risk of inaccurate financial reporting and risk of non-compliance with applicable laws and regulations. Assists in the implementation of the internal control law (5 MRSA, §1541,sub-§10-A) and continued monitoring of compliance with this law. All findings resulting from external audits are followed up by this division to ensure that appropriate corrective action has been planned and implemented. The division performs information system audits on State systems that have direct effect or influence on the risks mentioned above. The division also pursues issues of potential financial impropriety and associated internal control implications.
Examines and audits all State payrolls; reviews and reconciles all payroll deduction accounts; coordinates with insurance and deferred compensation carriers; processes all garnishments and all court ordered payments; processes all special payroll payments to employees and all retroactive payments.
The Risk Management process is a specialized version of traditional problem solving. It addresses the set of business asset management that deal with losses and exposures to loss.