Finance


General Information | Finance Reports

AUTHORITY FOR RESPONSIBILITY

Section 1.(d), Article VIII, State Constitution, provides that "the Clerk of the Circuit Court shall be ex officio clerk of the Board of County Commissioners, auditor, recorder and custodian of all county funds." The Finance Department of the Clerk of Circuit Court fulfills this role by safeguarding all assets of Monroe County. In carrying out these responsibilities, the Finance Department performs the following functions:

RECEIPT AND PAYABLE MANAGEMENT

Pre-audit and properly record all revenues of the County, including taxes, grant funds, charges for services, fines and forfeitures, miscellaneous and other sources.

Pre-audit, properly record and disburse all County funds to ensure all expenditures are legal, budgeted, and in compliance with County policies and procedures.

PAYROLL

Pre-audit, properly record, disburse and report payroll for all Board of County Commissioner's employees. Ensure compliance with all current tax and payroll regulations. Prepare and report all taxes and deductions to proper agencies.

CASH AND INVESTMENT MANAGEMENT

Promote and maintain a fiscally sound financial relationship with a local banking institution based on a competitive bid process. Electronically monitor daily cash balances to ensure sufficient balances for anticipated disbursements and invest excess to optimize interest income.

Develop, maintain, and ensure compliance with a comprehensive investment policy.

DEBT MANAGEMENT

Maintain long-term debt accounts according to debt covenants. Properly record and disburse all funds related to long-term debt.

FIXED ASSETS

Record, report, and conduct a physical annual inventory of all the County fixed assets. Ensure compliance with applicable rules, regulations and policies in the purchase, transfer, and disposal of all County fixed assets.

GRANT ACCOUNTING

Establish proper accounting controls for each grant. Balance grant revenues and expenditures to the general ledger. Ensure compliance with the financial reporting requirements for federal, state, and local grants awarded to the County.

FINANCIAL STATEMENTS AND REPORTS

Prepare and maintain the County's financial statements in accordance with guidelines established by the Government Accounting Standards Board, and other authoritative bodies. Maintain a sound financial reporting system, accessible by each department of the Board of County Commissioners.

Prepare the County's Comprehensive Annual Financial Report, a publication compiled of audited financial statements, related disclosures, and statistical information.

Coordinate the annual financial audit performed by the County's independent certified public accounting firm.

In addition to the above duties performed for the Board of County Commissioners, the Finance Department also carries out similar responsibilities for the Clerk of the Circuit Court.

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