§ 34.01  ADOPTION OF ACCOUNTING STANDARDS.
   (A)   The village hereby adopts the financial formats and disclosures of Statement Number 34 of the Government Accounting Standards Board (GASB- 34) on a modified cash basis without a management discussion and analysis statement.
   (B)   (1)   All governmental funds shall be accounted for on a modified cash basis.
      (2)   All enterprise funds shall be accounted for on an accrual basis by an accounting firm.
(Res. 05-05, passed 6-7-2005)