1. The Payroll Administrator maintains the employee records based on new hire documentation and various change forms and prepares the payroll register based on the supervisor approved time entry into the third party payroll provider’s time & labor web-site.
  2. The Personnel Changes report and Payroll register, along with all supporting documentation are reviewed by the Director of Business Operations. Upon approval, the Senior Executive Accountant submits the payroll for check printing by the third party payroll service provider.
  3. The third party payroll service provider prints the checks and direct deposit advices. The checks, direct deposit advices and various reports are delivered to the Administrative Assistant to the VP of Finance of the Foundation. The reports are given to the Payroll Administer and the Administrative Assistant distributes the checks and direct deposit advices by hand delivering or mailing to individual employees. Checks or direct deposit advices are not given to supervisors for delivery or holding.
  4. The Assistant Comptroller performs the monthly bank reconciliation with approval by the Director of Business Operations.

The third party payroll service provider or the Payroll Administrator calculates and remits tax payments, insurance premiums and other required assessments according to the schedule indicated below:

Bi-Weekly

Monthly

Quarterly

Annually

Federal payroll taxes Health insurance premiums SUTA taxes Form W-2 (to employee by 1/31, to government by 2/28)
Retirement plan deposits State payroll taxes Form 941 Form 5500
SRA deposits Parking fee withholding    
Maryland state payroll taxes      

Our Vision

Our vision is to attract broad resources that transform the USM and its institutions, create a network of advocates to embrace the USM’s role as an educator and economic engine, and to grow a long-term, sustainable culture of philanthropy across the University System of Maryland.

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