2014 Arkansas Code
Title 14 - Local Government
Subtitle 2 - County Government
Chapter 21 - County Funds
Subchapter 1 - General Provisions
§ 14-21-101 - Comprehensive financial management system.

(a) (1) In order to provide necessary financial information for the county judge, the members and committees of the county quorum court, and other interested officers and departments of the county, the Legislative Auditor is authorized and directed to develop a comprehensive financial management system for appropriate funds of the various counties in the State of Arkansas.

(2) This financial management system shall provide for adequate controls over revenues, expenditures, and balances to assure that current information will always be available concerning the financial condition of the county and its various offices and departments.

(3) The system shall include a budgeting and accounting system designed to classify the receipt of and the appropriations and disbursements of county funds in accordance with the object and purpose of the expenditures in such detail as will be suitable for an analysis of the operations of all county offices and departments and which will provide a breakdown and itemization of all expenditures compatible with and comparable to the appropriations of the quorum court.

(b) In the event any county is of the opinion that its system of budgeting and accounting for appropriated county funds is such that it equals or exceeds the basic system prescribed by this section, the county, acting through the quorum court, may request a review of its system by the Legislative Joint Auditing Committee. If the committee concurs with the county, the committee may issue a certificate to the county stating that the county's budgeting and accounting system is of such degree of sophistication that the basic requirements of this section are being met and exempting the county from the requirements of the particulars of the system prescribed by this section.