to Financial Statements Summary of Significant Accounting Policies. Financial Reporting Entity. @County County is a political subdivision of the State of Mississippi. The County is governed by an elected five-member Board of Supervisors. The financial statements of the County are presented on a cash basis of accounting, which is a basis of accounting other than accounting principles generally accepted in the United States of America as established by the Governmental Accounting Standards Board. These accounting principles require @County County to present these financial statements on the primary government and its component units which have significant operational or financial relationships with the County. There are no outside organizations that should be included as component units of the County’s reporting entity. (NOTE TO PREPARER: Edit as appropriate for one/or more component units) Management has chosen to omit from these financial statements the following component unit(s) which (has/have) significant operational or financial relationship(s) with the County. Accordingly, the financial statements do not include the data of (this component unit) (all of the County's component units) necessary for reporting in accordance with accounting principles applicable to the County’s cash basis of accounting. State law pertaining to county government provides for the independent election of county officials. The following elected and appointed officials are all part of the County legal entity and therefore are reported as part of the primary government financial statements. Board of Supervisors • Chancery Clerk • Circuit Clerk • Justice Court Clerk • Purchase Clerk • Tax Assessor-Collector • Tax Assessor • Tax Collector • Sheriff • (NOTE TO PREPARER: Reletter the notes if the County has Component units. Individual Component Unit Disclosures. Blended Component Units Certain component although legally separate from the primary government, are nevertheless so intertwined with the primary government that they are, in substance, the same as the primary government. Therefore, these component units are reported as if they are part of the primary government. The following component units balances and transactions are blended with the balances and transactions of the primary government. (Describe herein each blended CU in separate paragraphs.)
to Financial Statements Summary of Significant Accounting Policies. Financial Reporting Entity. @County County is a political subdivision of the State of Mississippi. The County is governed by an elected five-member Board of Supervisors. The financial statements of the County are presented on a cash basis of accounting, which is a basis of accounting other than accounting principles generally accepted in the United States of America as established by the Governmental Accounting Standards Board. These accounting principles require @County County to present these financial statements on the primary government and its component units which have significant operational or financial relationships with the County. There are no outside organizations that should be included as component units of the County’s reporting entity. (NOTE TO PREPARER: Edit as appropriate for one/or more component units) Management has chosen to omit from these financial statements the following component unit(s) which (has/have) significant operational or financial relationship(s) with the County. Accordingly, the financial statements do not include the data of (this component unit) (all of the County's component units) necessary for reporting in accordance with accounting principles applicable to the County’s cash basis of accounting. State law pertaining to county government provides for the independent election of county officials. The following elected and appointed officials are all part of the County legal entity and therefore are reported as part of the primary government financial statements. • Board of Supervisors • Chancery Clerk • Circuit Clerk • Justice Court Clerk • Purchase Clerk • Tax Assessor-Collector • Tax Assessor • Tax Collector • Sheriff (NOTE TO PREPARER: Reletter the notes if the County has Component units. Individual Component Unit Disclosures. Blended Component Units Certain component although legally separate from the primary government, are nevertheless so intertwined with the primary government that they are, in substance, the same as the primary government. Therefore, these component units are reported as if they are part of the primary government. The following component units balances and transactions are blended with the balances and transactions of the primary government. (Describe herein each blended CU in separate paragraphs.)
2013%20County%20Audit%20Report%20-%20OCBOA%20-%20Contract%20CPAs.docx