The Finance Department consists of six units: Accounts Receivable, Accounts Payable, Purchasing, Payroll, Budgeting/Financial Analysis, General Ledger, and Financial Reporting. Finance processes, monitors, records, reports, and interprets financial information for the purposes of managing the operations of the company and for internal and external reporting. Primary responsibilities of Accounts Payable include: Payment of medical claims, payment of administrative expenses, payment of capitations, processing of 1099 forms, petty cash, stop payments, and statutory reserve payments.
Primary responsibilities of Accounts Receivable include: Processing of all Child Health Plus subscriber invoices, subscriber invoice collections and postings, Health Care Plus/Family Health Plus/Child Health Plus New York State premium invoices and collections, newborn kick premium invoices/collections for Health Care Plus, maternity kick premium invoices/collections for Family Health Plus, Metro Card purchases and distributions, reinsurance monitoring and invoicing, processing of refunds and overpayments.
Responsibilities of general ledger and financial reporting include: Financial reporting, bank reconciliations, fixed asset reporting, general ledger account analysis, coordination of year-end audit and journal entries. Responsibilities of Budget/Financial Analysis include: New York State Quarterly and Annual financial reports, budget preparation, financial analysis, and special projects.
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