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Council adopts revised financial policies to align with accounting standards and reporting timelines
2962010 · February 11, 2025
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Summary
City staff updated financial policies to reflect current accounting standards (GASB), TMRS guidance, the GFOA annual comprehensive financial reporting definition, and extended the annual reporting timeline to 180 days; council approved the resolution 6–0.
The Highland Village City Council approved revised financial policies on Feb. 11 to align city practice with recent accounting and reporting standards and to provide additional administrative clarity.
Staff summarized the changes: references to the finance director were clarified, TMRS…
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