Finance
The County Finance Department was created in 1988 by centralizing duties performed by the administration and treasury functions. Click on the links below for easy access to the desired financial information.
The General Ledger
The general ledger is the backbone of the Countys financial operation. It is maintained on a modified accrual basis of accounting for each fiscal year (July 1 through June 30). Currently, the department maintains fifteen subsidiary funds, the general fixed asset account group, long term debt group and the funds accountability, which summarizes the subsidiary funds.
The subsidiary funds include:
Back to top1) General Fund
2) Special revenue funds
3) Capital projects fund
4) Trust and Agency funds
5) Debt service funds
Financial Reporting
The department oversees the annual audit and the preparation of the resulting document, the Comprehensive Annual Financial Report or CAFR (in Adobe PDF format). The audit takes place after the accrual process and the close of the fiscal year, usually in September or October.
Budget
The department prepares an annual draft document for the Board of Supervisors in accordance with sections 15.2-2503 through 2507 in the Code of Virginia 1950, as amended. The process usually begins in December, when requests are sent to County departments and community organizations. The department works closely with the County Administrator in providing the most equitable funding to all departments and organizations. The working document is usually presented to the Board in February and work sessions are scheduled in March. The County is required to adopt a budget by June 30. This allows the schools to complete their teacher contracts with their actual funding amounts.
Procurement
The department is responsible for the Countys formal and small purchasing process of goods and services. The department is governed by the Virginia Public Procurement Act (VPPA) and the Countys local ordinance.
Public purchasing provides necessary goods and services at the most competitive price. That is, to provide the citizens with the maximum value for the tax dollar. The department encourages all qualified vendors to participate in the procurement process. We support equal opportunity in purchasing practices and encourage the participation of businesses owned by minorities and women.
Follow this link to view current requests for proposals and invitations for bids.
Accounts Payable
The Accounts Payable Schedule for 2012 is listed below. All invoices and payroll information must be turned in by noon on the date listed, in order to process and enter the information into the system.
The County releases accounts payable at the end of each month after approval by the Board of Supervisors. Usually, any invoices received by the 10th of the month will be paid that month.
| A/P | P/R | Board Meeting | |
| January | 1/10 | 1/12 | 1/23 |
| February | 2/14 | 2/16 | 2/27 |
| March | 3/13 | 3/15 | 3/26 |
| April | 4/10 | 4/12 | 4/23 |
| May | 5/08 | 5/10 | 5/21 |
| June | 6/12 | 6/14 | 6/25 |
| July | 7/10 | 7/12 | 7/23 |
| August | 8/14 | 8/16 | 8/27 |
| September | 9/11 | 9/13 | 9/24 |
| October | 10/09 | 10/11 | 10/22 |
| November | 11/06 | 11/08 | 11/19 |
| December | 12/4 | 12/6 | 12/17 |
Association Memberships
The King William County Finance Department is a member of several associations for government finance and purchasing agents and proudly adheres to the codes of ethics of those organizations.
Recognitions & Awards
For the past thirteen years, the King William County Finance Department has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association for its comprehensive annual financial report (CAFR). This achievement is the highest form of recognition in the area of governmental accounting and financial reporting.
Contact Information
King William County Finance Department
P.O. Box 215
King William, VA 23086
Phone: (804) 769-4919
Fax: (804) 769-4964
The Finance Department is located in the county administration building at 180 Horse Landing Road, behind the colonial courthouse.
Office Hours: Monday through Friday, 8:30 a.m. - 4:30 p.m.
Staff
Rebecca B. Sears, Finance Officer
804-769-4935
rsears@kingwilliamcounty.us
Rhoda F. Rose, Finance Officer
804-769-4968
rrose@kingwilliamcounty.us
Sandra H. Conley, Financial Specialist
804-769-4919
sconley@kingwilliamcounty.us