§ 2-311. Accounting and general principles.  


Latest version.
  • (a)

    The financial affairs of the city shall be conducted in accordance with the governmental accounting and financial reporting principles established by the National Council on Governmental Accounting; accepted standards of the Government Finance Officers of America for governmental accounting adopted by the American Institute of Certified Public Accountants and requirements of the state.

    (b)

    The city shall operate a modified accrual accounting system.

(Code 1985, § 202.04(A), (B))