Financial Services

Description

Questar III offers a variety of essential financial and administrative services to help school districts streamline operations and ensure compliance with state and federal regulations. These services are designed to support districts in managing their financial responsibilities and to help maximize available resources. Our expert team works closely with school districts to tailor services that meet their specific needs, improving overall efficiency and transparency.

Currently, we serve numerous school districts and provide services that help them maintain fiscal responsibility while navigating complex regulations and requirements.

Each service is customized to the unique needs of participating school districts, ensuring effective and compliant management of financial operations.

Financial and Administrative Services and Codes

 

Administrative, Management, and Planning (COSER 621.040)

Questar III’s Administrative, Management, and Planning Service provides strategic planning and management support to school districts. Our team offers expertise in organizational development, policy creation, and resource allocation, helping districts improve administrative efficiency and plan for long-term success. This service is tailored to address the specific needs of each district, ensuring effective management and decision-making.

Asset Management & Valuation Services (COSER 620.010)

Questar III’s Asset Management Service helps school districts manage and track their physical assets, ensuring proper inventory control, maintenance, and compliance with accounting standards. Our team assists districts with asset documentation, tracking, and reporting, providing valuable insights to help optimize the use of district resources. We perform complete physical inventory including building appraisals, annual re-inventories, and provide user friendly software.

Claims Audit (COSER 319.010)

Questar III’s Claims Audit Service helps school districts ensure the accuracy and validity of claims for reimbursement. By reviewing submitted claims, we identify discrepancies, prevent overpayments, and ensure compliance with federal and state regulations. Our team provides detailed audits and reports, helping districts manage their budgets effectively and reduce unnecessary costs.

GASB 75 (COSER 625.010)

Questar III’s GASB 75 Service assists school districts in meeting the requirements of the Governmental Accounting Standards Board (GASB) Statement No. 75, which relates to the accounting and financial reporting for postemployment benefits other than pensions (OPEB). Our service includes calculations, reporting, and analysis to ensure compliance with GASB 75 guidelines, helping districts maintain accurate financial records.

Internal Audit (COSER 806.010)

Questar III has developed an internal audit service specifically designed to meet the requirements of the 2005 Fiscal Accountability legislation. The internal audit service provides independent, objective assurance, and professional consulting services designed to add value and improve the operations of school districts and BOCES throughout New York State. We strive to help school districts accomplish their objectives by bringing a systematic, disciplined approach to evaluate and improve the efficiency and effectiveness of risk management, internal control, and governance processes.

Medicaid Reimbursement (COSER 633.010) – New for FY 25/26

Questar III’s Medicaid Reimbursement Service helps school districts recover eligible Medicaid reimbursements for services provided to students. Our team assists with the application process, tracking eligible claims, and ensuring that all documentation is properly filed to maximize reimbursements, which can be reinvested into educational services.

Special Education Aid Assistance Service (STAC) (COSER 619.030)

Questar III's Special Education Aid Assistance Service supports school districts in claiming available aid for students with disabilities. We provide comprehensive data collection, submission, technical support, and training in best practices for Excess Cost Aid and STAC utilization. This ensures districts can effectively manage and optimize their special education aid processes.