(A) The village has received a recommendation that it adopt a capitalization policy in order to be in compliance with applicable accounting standards. The Board has reviewed the following capitalization policy, and approves the adoption of that policy.
(B) The President is authorized and directed to execute said policy, and the proper officers of the village are directed to carry out and apply the terms of that policy to all future audits.
(Ord. 21-02, passed 1-5-2021)