Perhaps the biggest benefit to the district is the increased operational efficiency and associated time saved by the system. The district’s school bookkeepers worked for 38 weeks during the year and are paid an average hourly wage rate of approximately $20. The district estimated that the School Cash Suite saved each secretary 3 hours per week by automating administrative tasks such as counting cash, recording deposits, distributing forms, performing bank reconciliations, and preparing reports. Across all its schools, this equates to an estimated $116,000 in efficiencies.
The district also realized real financial savings from a reduction in mileage expenses. School secretaries are required to drive to the bank to deposit the fees collected at their school. The district’s policy requires funds to be deposited at a minimum of once a week, or before a minimum threshold is collected. During the six busiest weeks of the school year, most of the district’s twelve high schools would reach the minimum threshold quickly, and often had to drive to the bank everyday of the week. The district would reimburse the secretaries at the IRS Mileage Rate of $0.54 per mile. Once fees were collected online through the School Cash Suite, secretaries were only required to make deposits once a week. With the number of bank trips being reduced, the district estimated it saved $1,555 each year in mileage reimbursements. Additionally, the district targeted visiting each school once per year to provide support and perform audits. Using a fully web-based system, district staff began to manage school finances remotely. The district estimated that the number of onsite visits was reduced by about 40 trips each year. With an average distance of 30 miles per visit, this saved another $648 each year.