24 Miss. Code. R. 2-10.4 - [Effective until 11/1/2024] Financial Statements

A. Audited financial statements must be prepared annually by an independent Certified Public Accountant for DMH certified agencies with more than $100,000 in annual revenue or, for state agency operated service locations, the State Auditor's Office.

B. DMH-certified agency providers with $100,000 or less in annual revenue must have a compilation report prepared annually by an independent Certified Public Accountant.

C. These financial statements must:

1. Include all foundations, component units, and/or related organizations;

2. Be presented to the agency provider's governing authority and to DMH upon completion, but no later than nine (9) months of the close of the entity's fiscal year. Written Requests for extensions must be submitted to the DMH Director, Bureau of Administration to prevent interruptions in grant funding (if applicable);

3. Be in accordance with the Single Audit Act of 1984 (Office of Management and Budget (OMB) Circular A-133) for facilities which have expended $750,000 (or current threshold amount set by the Federal Office of Management and Budget) or more in Federal Financial Assistance (Detailed in Appendix 1 of the DMH Service Provider's Manual which can be found at www.dmh.ms.gov.); and,

4. Include a management letter describing the financial operation of the certified agency provider.

Notes

24 Miss. Code. R. 2-10.4

Section 41-4-7 of the Mississippi Code, 1972, as Amended

Amended 7/1/2016 Amended 9/1/2020