Fiscal Department
With a small staff of only 17 employees, SEBCO’s Fiscal Department is
the glue that binds all of our departments together and is involved with
all of its operations.
This department is mainly responsible for managing the companies’ cash
and other assets, not an easy job in such a complicated organization.
Fiscal is responsible for recording all financial activity of the
companies, projects, and programs. They track the cash that comes in
from residential and commercial tenants, from Section 8, and the various
companies that make up SEBCO. Last year they collected approximately $10
million in residential rent, $14 million in Section 8 subsidies and
another $1million from commercial tenants.
Making sure that all necessary expenses are paid, including utilities,
water and sewer charges, real estate taxes, mortgages, and insurance, as
well as general operating expenses is another major responsibility of
the Fiscal Department. They make sure that payroll is being paid
properly, along with the payroll taxes and related benefit costs. They
also make sure that each company properly charges the others for shared
costs.
The Fiscal Department prepares monthly/ quarterly/ annual reports to the
investors of the partnerships and to our government funding sources.
They interact with various agencies of governments to obtain funds, make
payments or provide financial reports and related info. They also
provide reports for outside auditors to use in preparing reports and tax
returns as well as for government auditors.
The department also reviews the performance of all of our companies to
help determine whether there are more efficient ways of conducting
business and running the projects.
Finally the Information Technology section is responsible for all
computer issues both within our department and for all other areas of
the companies.
Human Resources Department
SEBCO’s Human Resources Department is mainly responsible for ensuring
that our 300 plus positions are filled with the best possible available
candidates. Over this past year the Department reviewed over 1100
applications for employment and hired 140 new employees, most of which
were placed at Sentry Security. Hiring employees is but one of various
functions that the Human Resources Department fulfills.
Each year this department also ensures that SEBCO’s employees have the
best possible health coverage they can afford. To soften the blow of an
unavoidable increase in premiums last year, they created and implemented
a new HIP plan, the third of three options, to offer a less expensive
plan for those who otherwise would not be able to afford coverage. The
staff embraced this option, evidenced in the growing number of
participants to date. This year’s contract renewal, brought with it one
of the most moderate increases in years and has retained all three
levels of health insurance coverage.
Human Resources has developed estimable skills in special event planning
as well. Each event requires months of planning and coordination amongst
our various departments. This past year they planned a number of
successful events which included the Staff Educational Seminars, Groundbreaking Ceremony for Sister Thomas Apartments,
Staff Dinner Cruise and the beloved Company Picnic. The annual Fundraiser /Dinner Dance has always been the
favorite project of the Human Resources Department with last year’s
event tipping the scale at 388 attending. Human Resources looks forward,
with great anticipation, to many more years of professional growth.