Paychex 2015 Annual Report Download - page 86

Schedule II — Valuation and Qualifying Accounts
PAYCHEX, INC.
CONSOLIDATED FINANCIAL STATEMENT SCHEDULE
FOR THE YEAR ENDED MAY 31,
(In millions)
Description
Balance as of
beginning
of fiscal year
Additions
charged to
expenses
Additions to/
(Deductions from)
other accounts(1)
Costs and
deductions(2)
Balance as
of end
of fiscal year
2015
Allowance for doubtful accounts .... $1.5 $1.6 $ 0.1 $1.8 $1.4
Reserve for client fund losses ....... $1.9 $2.0 $(0.2) $1.9 $1.8
2014
Allowance for doubtful accounts .... $1.0 $2.5 $ — $2.0 $1.5
Reserve for client fund losses ....... $2.4 $2.2 $ — $2.7 $1.9
2013
Allowance for doubtful accounts .... $1.2 $1.7 $ — $1.9 $1.0
Reserve for client fund losses ....... $2.1 $2.7 $ — $2.4 $2.4
(1) Amounts related to business acquisitions.
(2) Uncollectible amounts written off, net of recoveries.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
Item 9A. Controls and Procedures
Disclosure Controls and Procedures: Disclosure controls and procedures are designed with the objective
of ensuring that information required to be disclosed in the Company’s reports filed under the Exchange Act,
such as this report, is recorded, processed, summarized and reported within the time periods specified in the
SEC’s rules and forms. Disclosure controls and procedures are also designed with the objective of ensuring that
such information is accumulated and communicated to the Company’s management, including the Company’s
principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding
required disclosure.
Conclusion Regarding the Effectiveness of Disclosure Controls and Procedures: As of the end of the
period covered by this report, the Company carried out an evaluation, under the supervision and with the
participation of the Company’s principal executive officer and principal financial officer, of the effectiveness of
disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act. Based on
such evaluation, the Company’s principal executive officer and principal financial officer have concluded that as
of May 31, 2015, the end of the period covered by this report, the Company’s disclosure controls and procedures
were effective.
Changes in Internal Controls Over Financial Reporting: The Company also carried out an evaluation of
the internal control over financial reporting to determine whether any changes occurred during the quarter ended
May 31, 2015. Based on such evaluation, there have been no changes in the Company’s internal controls over
financial reporting that occurred during the Company’s most recently completed fiscal quarter ended May 31,
2015, that materially affected, or are reasonably likely to materially affect, the Company’s internal control over
financial reporting.
Internal Control Over Financial Reporting: The Report on Management’s Assessment of Internal
Control Over Financial Reporting and the Report of Independent Registered Public Accounting Firm are
incorporated herein by reference from Part II, Item 8 of this Form 10-K.
65