The Lafayette County Baptist Trust Fund earned nearly $1 million during the most recent fiscal year, which runs from April 1 through March 31.

At a recent meeting, Ed Maxwell of Watkins, Ward and Stafford accounting firm presented the annual audit of the county’s Municipal Reserve and Trust Fund to the Lafayette County Board of Supervisors.

As of March 31, the trust fund was valued at $22,502,547 — an increase from $21,686,145 in March 2024.

Each year, the county has the option to withdraw up to 3 percent of the fund’s value for its general account. For this fiscal year, that amount is $675,076. From that total, the Board chose to allocate $87,204 toward accounting and legal fees, leaving $587,872 available for other county needs.

Since its inception, the fund has generated approximately $4.5 million in earnings for the county. The Board of Supervisors has traditionally divided the available funds evenly among the five districts, typically using them for road paving and resurfacing projects.

How the funds will be used this year will be determined during the upcoming budget hearings as the Board works to finalize the 2025-2026 county budget.

The trust fund was created in 2012 when Baptist Memorial Hospital–North Mississippi bought out its lease on its former facility. As part of the agreement, both the city of Oxford and Lafayette County received $30 million. The city invested its full amount into a trust fund, while the county used $10 million to pay off debt and placed the remaining $20 million into its own fund.

Maxwell will be presenting the city’s annual Baptist fund audit during an upcoming Board of Aldermen meeting.