RESOLUTION NO. 2024-XX
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MARYSVILLE, STATE
OF CALIFORNIA, ADOPTING A GRANT ACCOUNTING POLICY
At a regular meeting of the City Council of the City of Marysville, State of California held on the 2nd day of July, 2024.
WHEREAS, the Government Finance Officers Association (GFOA) and the Governmental Accounting Standards Board (GASB) recommend the adoption of such policy as a best practice; and
WHEREAS, the City recognizes the importance of standardizing and improving the accounting treatment of grants received from various funding sources; and WHEREAS, the current practices regarding grant accounting lack consistency and clarity, which may lead to compliance issues and inefficiencies; and WHEREAS, adopting a formal grant accounting policy will enhance transparency, compliance with regulatory requirements, and overall financial reporting accuracy; and WHEREAS, a grant accounting policy has been developed for the City and the City Council desires to adopt such a policy.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Marysville that the attached Grant Accounting Policy is hereby adopted.
I HEREBY CERTIFY that the foregoing resolution was duly and regularly introduced and adopted by the City Council of the City of Marysville, County of Yuba, State of California, on the 2nd day of July, 2024, by the following vote:
Ayes:
Noes:
Absent:
Abstain:
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of said City this 2nd day of July, 2024.
By: ________________________________
Nicole Moe, City Clerk
Attestation date: _____________________
City of Marysville, California
By Its City Council
By:__________________________________
Chris Branscum, Mayor