The Rancho Santa Fe Post

CFO Steve Comstock Reports Improved Efficiency in the Association

(This article was originally posted on The Coast News)

New to the RSF Association board meeting agenda items was an update from the CFO of the Association, Steve Comstock. At a recent meeting, Comstock was on hand to provide the board with information as well as answer questions.

During the course of the presentation, Comstock spoke about healthcare, which he described as a bigger item, which was changed since July.

“The company moved away from having one provider as Kaiser and moved into a Kaiser-Anthem relationship and also the first time developed standing contributions,” he said.

The Association also made a shift with their insurance brokerage, which is now with Gallagher Levine. Comstock described them as an outstanding organization.

Comstock told the board an upcoming written report from the new insurance firm will provide updates with all the policy changes.

“Another process change was outsourcing payroll. We’ve been with Paychex now for several weeks and it is working out beautifully,” Comstock said.  “We only had one minor hiccup at the beginning of the very first payroll, probably something we could have expected, but those things happen. But we got through it.”

Now into its fifth payroll, Comstock said, the reporting clarity with Paychex was phenomenal.

Comstock also called it user friendly.

“We have two payroll people, a main payroll person and a backup,” he said. “Being able to flip out of one payroll program and into the next one with the training that’s involved, it was almost hand in hand. It just fell right into place.”

Comstock also pointed out that this new payroll outsourcing has created a number of labor savings along with the ability to be able to have it fold in with the direct deposit. According to Comstock, the Association was saving roughly two full days of staff time a month.

Although it may not sound like a great deal, it does add up.

This has freed up some staff time where they could tackle other tasks.

The final item Comstock addressed where the completion of the 990 forms.

“I’m working on that now,” he said. Once Comstock completes his informational data and figures, it will get submitted to the CPA firm.

Once Comstock receives everything back from the CPA, he will then send it over to the Finance Committee for its January Meeting. And in February, it will be prepared for the RSF Association board of directors to view.

(This article can be read on The Coast News)