County Treasurer, County Auditor, and Comptroller
Section 19-7-1 and 27-105-343 of the Mississippi Code, designate the Chancery Clerk to serve as both County Treasurer and County Auditor. In addition to the County Treasurer, the Comptroller falls under the duties and responsibilities of the Chancery Clerk, as well. To assist the Chancery Clerk in her financial responsibilities to the County, LaFrance Boyd serves as the County’s Comptroller. The Comptroller is responsible for ensuring all monies coming into the County and all monies being paid out of the Treasury are recorded properly for financial reporting purposes. The County’s books are recorded on a cash basis and are reconciled on a monthly basis. Additionally, the County follows the fund accounting approach for financial reporting purposes. Currently, there are 80 active funds that are reconciled and accounted for each month for financial reporting purposes. The General Fund #001 is the county’s general operating fund which funds most of the general government offices.
The county also follows the minimum standards as outlined by GAAP and GASB. Generally accepted accounting principles (GAAP) are the minimum standards and guidelines for financial 0accounting and reporting. These standards for counties are derived primarily from the Governmental Accounting Standards Board (GASB). GASB is the ultimate authoritative accounting and financial reporting standard setting body for state and local government.
Each year the County’s financials are subject to be audited by the State Auditor’s office unless the Auditor’s office has designated the County’s audit to be performed by a private accounting firm. The accounting firm must be registered with the MS State Auditor’s office. Only firms who have registered and met certain criteria with the State Auditor’s office are approved and allowed to audit counties in lieu of the State.
For more information regarding account payable, accounts receivable, or other county finances, please call LaFrance Boyd at (662) 494-3124.
Clay County, MS