Mississippi Administrative Code › Title 12 - Finance and Administration › Part 4 - MS Management Reporting Systems › Chapter 2 - Part IV Payments by Credit Card, Charge Card, Debit Cards or Other Forms of Electronic Payment of Amount Owed to State Agencies › Rule 12-4-2.9 - Third Party Processing and Fulfillment Costs

Current through June 25, 2024
A.
									§
									7-7-9,
				Mississippi Code (Laws of 1972) states the following:
"The Mississippi General Accounting Office shall
				  maintain a complete system of general accounting to comprehend the financial
				  transactions of every state department, division, officer, board, commission,
				  institution or other agency owned or controlled by the state, except those
				  agencies specifically exempted in Section
				  7-7-1, whether at the
				  seat of government or not and whether the funds upon which they operate are
				  channeled through the State Treasury or not, either through regular procedures
				  having to do with the issuance of the State Fiscal Officer receipt warrants and
				  disbursement warrants or through controls maintained through reports filed
				  periodically as required by the State Fiscal Officer in accordance with the
				  reporting provisions contained in said Section 7- 7-1.
All Transactions in public funds, as defined in
				  Section
				  7-7-1, shall either
				  be handled directly through the State Fiscal Officer and the State Treasury, or
				  shall be reported to the State Fiscal Officer at the times and in the form
				  prescribed by the State Fiscal Officer and the Legislative Budget Office, so
				  that a complete and comprehensive system of accounts of the fiscal activities
				  of all state governmental agencies shall be made available at all times in the
				  General Accounting office.
B. This policy is established by the
				Department of Finance and Administration, Office of fiscal Management (OFM) for
				direct or indirect payment to vendors to support internal business functions in
				the fulfillment of orders and completion of transactions initiated in person or
				through the Internet. These transactions may include, but are not limited to,
				the collection of taxes, issuance of licenses, production of reports, and other
				collections or payments for services that are conducted by agencies in their
				normal course of business.
C. Any
				cost incurred directly (by an agency) or indirectly (passed directly to the
				consumer) for a party to complete agency business transactions must be
				reflected as a cost of doing business for this agency. To do otherwise would
				not fully disclose costs of the State to conduct business or reflect revenue
				generated by a vendor who is providing services under contract for the State of
				Mississippi. Likewise, any charge to the consumer for processing these
				transactions should be recognized by the agency as revenue.
D. Agencies will report revenues and expenses
				on a Journal Voucher (JV) according to the Mississippi Agency Accounting Policy
				and Procedure (MAAPP) Manual, Section 16. The JV will be created within 5
				workdays of the end of the fiscal quarter.
§
										7-7-9