Accounting Division

The Accounting Division is responsible for providing timely and accurate financial services for the Department of Insurance's approximately 170 employees in accordance with State and Federal guidelines. The Division accounts for receipts and disbursements associated with the general operations of the Department, which includes the following divisions:

  • Accounting
  • Consumer Services
  • Examiners
  • Fire Marshal
  • Fraud
  • Human Resources
  • Information Technology
  • Legal
  • Preneed
  • Producer Licensing
  • Rates and Forms
  • Receivership
  • Strengthen Alabama Homes

Responsibilities of the Accounting Division include analyzing and reporting on annual departmental receipts of approximately $614 million distributed to the General Fund, Special Mental Health Fund, and various Insurance Department funds.

The Accounting Division also performs the following functions:

  • Prepares the Department’s annual budget request, operations plan, annual performance plan, and quarterly performance report
  • Prepares monthly financial statements and other financial information
  • Balances STAARS Department elements to STAARS Statewide elements monthly
  • Processes payroll
  • Maintains leave records
  • Maintains property records and conducts annual property inventory audits
  • Performs purchasing functions for department’s supplies and equipment
  • Determines internal control procedures
  • Opens and distributes the department’s mail
  • Acts as a system liaison to Information Technology
  • Acts as a system liaison to Producer Licensing Division to ensure that all producer fees for license applications, appointments, and renewals are collected
  • Collects premium tax and audits premium tax returns in excess of $534 million dollars