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Film & TV

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Why Choose Leonis Financial Services For
Your Film and TV Production Needs?

We assist in monetization of Production Tax Credits
Leonis can access its Preferred Network of Providers to assist in maximizing production financing of projected tax credits as well as coordinate the monetization of the final tax credits.

We provide staffing for production accounting and post production accounting
Leonis is continually expanding its Preferred Network of Providers as well as developing in-house staff. We can draw upon our connections to staff multiple independent productions accounting departments.

Collection Account Setup and Oversight
Leonis has deep relationships with both Fintage House and Freeway. We can assist with the setup and oversight of project collection accounts.

We prepare and submit IRS Form 8802 to obtain a Certification of U.S. Tax Residency forms 6166
Film and TV distribution companies licensing exploitation rights outside of the United States will need form 6166 for certain non-US territories. Leonis is a seasoned preparer of the necessary forms and documents used to obtain these residency certificates.

Summary Of Services

Pre-Sales & Distribution

Distribution

  • Liaise between production lawyer(s) and sales agent to track, review, comment on, and finalize distribution agreements and notices of assignments
  • Review all distribution agreements for production and delivery requirements such as running time, essential elements, budget, P&A, etc.
  • Review and comment on all delivery schedules – analyze physical elements in regards to budgetary restrictions and legal documentation delivery for any issues or concerns
  • Set up trackers in order to track sales, bonuses, participations, and payments of such, as well as to track production parameters / requirements, estimated P&A expenses, release holdbacks / dates, distribution terms, distribution statements, audit rights and more
  • Ensure that all notices of delivery and invoices are delivered to distributors
  • Analyze distribution agreements and box office performance in order to identify potential future overages

Collection Account

  • Work with production lawyer and collection account manager to track, review, comment on and finalize collection account management agreement
  • Provide any collected gross receipts information and distributor information
  • Review and comment on Collected Gross Receipts reports for accuracy
  • Track incoming payments to the collection account and disbursements to beneficiaries
  • Liaise with the sales agent in order to request, track and review distribution statements, and collection account payments to ensure collection of overages
  • Track loan and collateral repayments based on incoming receipts from sales, tax credits, overages and other sources

Pre-Production

Chain of Title

  • Work with production lawyer to compile chain of title documents
  • Create COT memorandum
  • Order UCC searches
  • Order copyright and title report (needed for E&O insurance and larger distributors as well)

Script

  • Review all script changes for budgetary impact
  • Distribute scripts as necessary
  • Submit script for breakdown and clearance
  • Review names, graphics, logos and products to be used for clearance & product placement
  • Review all script clearance issues to resolve prior to shooting
  • Register the screenplay with the copyright office
  • Pre-register the motion picture with the copyright office
  • Break down script and script changes for VFX (see also budgets)

Budget

  • Review and compare VFX vendors and quotes
  • Review deliverables in post-production budget
  • Revise production budget as needed
  • Work with producers, UPM to finalize budget and prepare cash flow

Key Agreements: Cast & ATL

  • Liaise between production lawyer and cast/ATL representatives to track, review, comment on, and finalize agreements

Vendor Agreements

  • Set up payroll company and review and comment on payroll agreement
  • Set up production accounting system and chart of accounts
  • Liaise with major vendors to track, review, comment on, and finalize agreements (camera house, VFX, SPFX, post-production facilities, sound house, etc)

Insurance

  • Work with insurance brokers to receive various quotes
  • Complete all insurance applications
  • Complete E&O application and provide necessary back up documentation
  • Provide proof of workers compensation to payroll company
  • Work with production to provide all necessary documents
  • Obtain insurance binder and order all necessary certificates of insurance (both GL & E&O) for ATL, distributors, production companies, completion guarantor, bank, etc.
  • Work with insurance company regarding essential elements – e.g. cast and/or director
  • Set up all cast physicals for covered cast members and review cast logs as they are issued
  • Track and assist with insurance claims, including preparing documentation and negotiating the claim

Bond

  • Set up director meeting with bond company
  • Ensure that the bond company receives all necessary paperwork and agreements (Chain of Title, ATL/Cast agreements, delivery schedules, department budgets, etc.)
  • Complete film info sheet/questionnaire
  • Comment and track revisions on completion guaranty & completion agreement
  • Assist with getting the producer & director inducement letters signed
  • Work with production/producers to provide signed versions of the bonded documents (budget, cash flow, VFX breakdown, script, shooting schedule, post-production schedule, delivery schedules, production company costs to date)
  • Provide schedule of insurance coverage and certificate of insurance
  • Work with bond company and bank to complete a blocked account control agreement
  • Work with bond company and bank to set up lab pledgeholder agreements

Guilds & Unions

  • Complete all signatory paperwork – agreements, letter of adherence, information sheet, distribution checklists, company resolutions
  • Provide company articles and operating agreement
  • Work with production to provide all necessary requested paperwork to the guilds, such as COT, pre-production cast list, schedule, cast budget, etc.
  • Work with DGA members to complete DGA deal memos
  • Comment and track revisions on the security agreements, guaranty agreements, intercreditor agreements
  • Work with SAG and producer to estimate payroll deposit
  • Work with producer, production lawyer and cast/director representatives to complete any necessary escrow agreements – setting up accounts with payroll company or cast representatives
  • Provide escrow paperwork to SAG/DGA
  • Calculate residuals estimates and work with SAG/DGA to estimate residual deposit
  • Calculate and work with SAG/DGA to estimate security deposit (if necessary) and complete security deposit paperwork
  • Work with the production lawyer or directly with SAG/DGA/WGA & IATSE to become signatory
  • Assist with guild audits, preparing and coordinating paperwork, analyzing audit findings and negotiate claims

Tax Incentive Support

Work directly with tax incentive company (ie: Global Incentives) on the following:

  • Review budget breakdowns and calculations
  • Work with production accounting team to set up the tagging mechanism within the accounting system to accurately tag qualifying expenditure and payroll items
  • Provide tax incentive knowledge regarding the collection of proper documentation necessary to maximize the claim
  • Assist with completing all tax application and continue to follow up until preliminary tax credit certificate is received

Production Forms

  • Provide necessary forms such as key cast and crew deal memos (union & non-union), clearance forms, location forms, photo release forms

Production Support

  • Provide complete production support until the production office is staffed up – including travel, script and schedule distribution, SAG responsibilities – Station 12, Taft Hartley
  • Provide pre-production accounting services until production accounting team is in place, including preparing funding request, ordering check stock, setting up petty cash vendors, location deposits, vendor purchase orders and processing payroll

Production

Clearance

  • Continue to monitor any created logos and graphics during shooting, along with approving any stock footage/clip usage that will be used during shooting

Auditing

Provide production accounting auditing services during principal photography, including:

  • Monitor Location Accounting system for unposted cost reporting issues
  • Review vendor setups and vendor spend for end of year 1099 reporting
  • Monitor trial balance receivables and offset accounts
  • Audit payroll accounts including fringe, per diems, equipment rentals, etc…

Stills

  • Set up online stills account
  • Review delivery schedules for specific stills requirements
  • Review all cast contracts for stills approval requirements
  • Set up all ATL for stills access
  • Set up all cast for stills access and approval instructions
  • Monitor approvals and work with cast representatives to make sure that all approvals are complete

Post-Production

Production Wrap-Out

  • Inventory and organize all production, accounting, art department, props, set dec, and costumes boxes to ensure all items are accounted for
  • Review wrap memo and follow up on all outstanding issues
  • Meet with the production accounting team to discuss on-going issues, outstanding deposits, cost reporting and post-accounting needs

Post-Production Accounting

Provide complete post-accounting services including:

  • Review and process invoices, reconcile petty cash and credit card accounts.
  • Process post-crew payroll, including processing of holiday accruals, completion of assignments and final ATL payroll
  • Maintain weekly cost reporting, post-cash flow schedule, manage funding request and reconcile monthly bank accounts
  • Track actors’ free days during looping
  • Review, adjust and process 1099’s

Post-Production Support and Delivery Preparation

  • Work with post-production supervisor to set up facilities
  • Monitor post-production calendar to keep on schedule
  • Review and comment on all screening questionnaires
  • Assist with setting up Humane Society screening
  • Assist with setting up MPAA screening if not handled by distributor
  • Assist with acquiring Dolby/DTS licenses
  • Set up long term storage for dailies and post-production elements that will need to be moved from editing room and laboratories once post-has shut down

Main and End Titles

  • Compile main title credits using the obligations and requirements in cast, ATL, distributor and sales agent agreements
  • Based on the end credits received from production, compile end credits, working directly with post-production supervisor to review and complete
  • Submit final main and end credits to DGA/SAG for approval and work with DGA to obtain necessary waivers.

Music

  • Work directly with music supervisor and production lawyer to track, review, comment on and finalize composer agreements and all music master and synchronization licenses and confirmation letters

Clearance & Stock Footage

  • Set up stock footage accounts
  • Review and comment on all stock footage licenses
  • Review each film cut for clearance and product placement issues
  • Resolve any clearance & product placement issues
  • Review and compile all clearance release paperwork

Delivery

Physical Elements

  • Set up spreadsheet based on delivery schedules with all physical elements required
  • Work directly with post-production supervisor to confirm that all required deliverables are on schedule, created and delivered

Lab Access Letters

  • Work with production lawyer, distributors and labs to review and comment on lab access letters
  • Track changes and circulate executed versions

Legal Delivery Documentation

  • Compile and/or create all items for the closing binder and legal documentation delivery for distributors
  • Work with production lawyer and distributor to execute security agreement and short form license if not completed when distribution agreement was executed
  • Deliver Chain of Title documents and all company articles of incorporation, letters of good standing and payment instruction (W-9, bank details)
  • Order current UCC reports and current copyright and title report and opinion
  • Create, or work directly with production lawyer to create, Obligations and Restrictions Chart and Paid Ad Statement
  • Create proposed billing block
  • Provide all documentation needed such as ATL & cast agreements, final screenplay and shooting script, and final main and end titles.
  • Submit WGA notice of tentative writing credits to be provided to distributor
  • Compile music licenses with proof of payments for delivery (along with confirmation letters if necessary)
  • Register motion picture with copyright office and provide script and motion picture registration certificates to distributor
  • Provide notarized Certificates of Origin
  • Provide stock footage licenses and product placement letter with all details of any product placement provided (either for payment or free) for the film. If necessary, break down all product placement on screen by using timecode as reference

Provide all residual documentation, including:

  • Statement of guilds & unions
  • Final SAG cast list (noting omitted players) along with all SAG contracts
  • All DGA members’ information
  • All WGA members’ information and notice of tentative writing credits
  • Post-60s paperwork – if not completed by production, acquire necessary reports from payroll company to complete Form F worksheet and Form D.
  • Provide to post-production and distributors any logos required – IATSE, tax rebate locations, vendors, etc.

Publicity and Marketing Materials

Production notes

  • Help publicist with acquiring biographies from cast and ATL
  • Provide billing block and end credits to publicist
  • Review and comment on all versions of the production notes
  • If no publicist is used, create production notes

EPK (if necessary)

  • Breakdown and log EPK and behind the scenes footage
  • Transcribe EPK

Trailer

  • Liaise between post-production and trailer house to make sure all necessary elements are available
  • Screen and comment on all versions of trailer

General Administrative and Accounting

Bookkeeping & Accounting

  • Accounts payable: enter invoices, print or release payment instructions, and prepare and send forms 1099s
  • Accounts receivable: review contract terms for fees and reimbursements, prepare and send invoices, track and collect aging receivables
  • Payroll services: setup and run the payroll function. This includes preparing and filing quarterly state and federal returns, properly classify employees and contractors, prepare and distribute form W-2. Upon request, track additional information such as medical insurance premiums, retirement plan deferrals, and time off accruals and usage
  • Cash based and accrual based accounting: prepare either cash based or accrual based financial records as required
  • Coordinate with tax preparer: maintain and organize tax records used in the preparation of your business and personal tax returns. Coordinate with the tax preparer to make sure all available deductions and credits are properly applied, and review completed tax returns prior to filing with the appropriate tax jurisdiction
  • Preparation of GAAP financial statements and independent audits: most bank line of credits secured by film rights require the preparation and independent audit of financial statements. Prepare full financial statements and work with independent auditors to complete such audits

General Administrative

  • Internal control design: set up a control design to safeguard business assets, while balancing functionality and size of the entity
  • Bank coordination: acts as first point of contact with banks and other financial institutions, including handling all issues and requirements from the financial institutions
  • Local business licenses and tax returns: determine local business license requirements, maintain the proper documentation and complete any necessary applications.
  • Sales, use and VAT tax returns: maintain proper records used to prepare sales and use tax returns in the United States, or VAT tax returns in the United Kingdom. Set up spreadsheet
  • Setup and manage company benefit programs: set up and manage Section 125 pre-tax medical insurance plans, as well as 401(k) and other retirement benefits.
  • Access preferred network of providers for vendor selection: assist in finding appropriate vendors based on an extensive network of preferred providers for insurance, leases, craft services, and other office functions

Experience

Production Coordination

  • 15+ years working on locations all over the world
  • Coordinated for major studios and on independent features
  • Familiar with all aspects of film making, from setting up to development, pre-production, shooting, post-production and delivery
  • Good working relationships with sales agents
  • Valuable experience with the sales and distribution process

Production Accounting

  • 25+ years in production accounting, including 20+ years of location accounting experience
  • Worked for all major studios in both TV & Film production accounting
  • Experience in location accounting, post-accounting and audit compliance

General & Administrative

  • 6 years management experience as CFO of various companies plus 6 years as a controller
  • Active California Certified Public Accountant
  • 19+ years in accounting
  • Operated and managed start-up entities