ACCOUNTS PAYABLE DIVISION
The Accounts Payable Division manages the centralized accounts payable function for the state, maintains a database of more than 50,000 active records of state vendor profiles; solicits vendors to enroll in direct deposit to receive payments electronically, and also Vendor Self-Serve which provides vendors with the ability to inquire and instantly obtain an updated status of their paid and outstanding invoices along with other relevant business information by logging into a secure environment in the state�s accounting system.
The division initiates and monitors the process for paying and settling the state's obligations, examines state encumbrances and expenditures for compliance, conducts pre-audits of procurement requests for $1 million or more; regularly performs random post-audits of agency expenditures; addresses a variety of necessary federal and state requirements and Freedom of Information requests. The division processes special payments such as tax-exempt bond funds, debt service, state legal settlements, land condemnations, human resource benefits, federal pass-through and state grants. These payments are processed through various methods such as Automated Clearing House (ACH, also known as direct deposit, electronic funds transfer or EFT), wire transfers, checks, and inter-agency transfers.
The division enforces the statutory, regulatory and accounting provisions mandated by state and federal law and by the Comptroller's policies; facilitates the execution of state grant programs for payment to municipalities and/or non-profit organizations; produces reports of payments to municipalities and provides assistance to municipalities' independent auditors in the reconciliation of such payments; maintains financial records, including garnishments/offsets through the vendor file database within the state's Core-CT administrative and financial system; assists agencies in processing transactions and troubleshooting problems with such transactions in Core-CT; develops manuals and provides training to other state agencies' business office staff; processes and distributes a variety of federal 1099 forms for reportable transactions to vendors, grantees and the Internal Revenue Service.