The Tax Commissioner is required by law to disburse money collected within legal timeframes and is prohibited from investing the money. The only option open to Tax Commissioners was to put the money prior to disbursements into interest-bearing accounts. Before 1985, the money collected by the Gwinnett County Tax Commissioner was not earning interest. It simply sat in regular bank accounts scattered across the county until time for disbursements to the taxing authorities. Katherine Sherrington put the bank services out for competitive bid for the first time and taxpayer dollars were immediately put in interest bearing accounts where millions of dollars have been earned.
Katherine immediately implemented Generally Accepted Accounting Principals (GAAP) in the office. The tax digest was balanced for the first time, accounts receivable were reconciled and double-entry bookkeeping was implemented. Today, our reputation the office has a state-wide reputation for accuracy and dependability with all our financial records.
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