The Division of Financial Services prepares the financial statements, statistical reports, and other accounting reports for the school district; completes financial statement and legislative audits; works with the state in their preparation of the annual financial report; prepares required federal, state, and other reports, including Every Student Succeeds Act and cost per pupil reports; manages federal, state, and other grants, including COVID-19 funding; performs risk management duties by processing and investigating claims; provides for internal controls of all accounting activities; processes accounting transactions; supports procurement card activity; collects amounts owed to MCPS; makes all payments on behalf of MCPS; and coordinates system cash including the Centralized Investment Fund. The division provides accounting services to the MCPS Educational Foundation, a 501(c)(3) corporation. The division brings central services resources to support schools through support of the School Funds Online and Online School Payments systems. This central effort reduces burden on schools so that school-based employees can focus on the critical work of teaching and learning for all students.