The Superintendent of Durant Public School District shall prepare annual financial statements, including the notes to the financial statements, in accordance with generally accepted accounting principles at June 30 of each fiscal year.  The financial statements, including the notes to the financial statements, shall be prepared at June 30, 1986, and for each succeeding fiscal year.

The superintendent of schools shall furnish to the Board of Trustees a financial statement of receipts and disbursements, by funds, on or before the last working day of the following month covering the prior month. The Board of Trustees shall be authorized to investigate and audit all financial records of the superintendent of schools at any and all times.  § 37-9-18 (1)