Parent Category: Orindances
Category: 2017 Ordinanaces
ORDINANCE NO. 2017-2
AN ORDINANCE AMENDING THE FINANCIAL REPORTING FISCAL YEAR END FROM AUGUST 31 TO JUNE 30, TO BE APPLIED RETROACTIVELY TO THE 2016-2017 FISCAL YEAR AND SUBSEQUENT YEARS THEREAFTER.
WHEREAS, The Town of St. Francisville, Louisiana’s current financial fiscal year end occurs on August 31;
WHEREAS, the Governmental Accounting Standards Board Statement 68 related to accounting for pensions for governmental employees requires twelve month current information to be included for year-end financial reports; and
WHEREAS, the Town of St. Francisville has been unable to receive twelve month current information from various pension plans due to its August 31 fiscal year end, but would be able to receive twelve month current information if its fiscal year end was June 30;
NOW, THEREFORE BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE TOWN OF ST. FRANCISVILLE, at this regular session held on the 14th day of February, 2017, that this Ordinance shall amend the Town of St. Francisville financial reporting fiscal year end from August 31st to June 30th for the current financial reporting year and subsequent years hereafter.
BE IT FURTHER ORDAINED that this change in financial reporting fiscal year end shall result in a ten-month budget and financial statement for the year ending June 30, 2017.
The motion to adopt this Ordinance was made by Susie Tully and was seconded by Abby T. Cochran.
The vote thereon was as follows:
YEAS: 1) Susie Tully
2) Abby T. Cochran
3) James R. Leake
4) Gigi Robertson
NOT VOTING: none
ABSENT: 1) Bryan Kelley
WHEREOF, the above and foregoing Ordinance was declared duly adopted on this 14th day of February, 2017 at St. Francisville, West Feliciana Parish, Louisiana.
HONORABLE WILLIAM D’AQUILLA
MAYOR, TOWN OF ST. FRANCISVILLE