My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
CCP 12-15-2003
ArdenHills
>
Administration
>
City Council
>
City Council Packets
>
2000-2009
>
2003
>
CCP 12-15-2003
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
5/8/2007 1:18:52 PM
Creation date
11/14/2006 2:38:58 PM
Metadata
Fields
Template:
General (2)
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
79
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
<br />INTRODUCTION <br /> <br />For fiscal-year ending December 31, 2004, the City of Arden Hills will be required to implement <br />Governmental Accounting Standards Board (GASB) Statement No. 34, Basic Financial <br />Statements and Management's Discussion and Analysis for State and Local Governments, <br />Statement No. 34 establishes new financial reporting requirements for state and local <br />governrnents throughout the United States. When irnpJemented, it will create new information <br />and will restructure much of the information that the City of Arden Hills has presented in its <br />annual reports in the past. The intent of these new requirements is to make annual reports more <br />comprehensive and easier to understand and use. <br /> <br />Two key components of Statement No, 34 require governments to report capital assets and to <br />depreciate the capital assets over their estimated useful lives, Therefore, it will be necessary for <br />the City to develop and implement a Capital Asset Policy that meets the new financial statement <br />reporting requirements, and provides management information. <br /> <br />While the Capital Asset Policy is not all encompassing, it will provide guidance to implementing <br />the new reporting requirements, i,e., meeting the primary objective of financial reporting as it <br />pertains to valuation, allocation, presentation and disclosure; therefore this policy will not used <br />for property control pllrposes. <br /> <br />This policy is effective January 1,2004. <br /> <br />2 <br /> <br />. <br /> <br />. <br /> <br />. <br />
The URL can be used to link to this page
Your browser does not support the video tag.