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Tonganoxie council adopts accounting waiver for fiscal 2026
Summary
The Tonganoxie City Council approved a resolution adopting a regulatory-basis accounting waiver (commonly called a GAP waiver) for fiscal year 2026, a step staff said reduces fixed-asset accounting burdens while preserving annual audits.
The Tonganoxie City Council voted to adopt Resolution 0126012026 on a motion and second, approving a regulatory-basis accounting waiver for fiscal year 2026.
Staff member Mister Porter told the council that Kansas law allows municipalities to opt out of generally accepted accounting principles (GAAP) and adopt a GAP waiver that uses an inventory-based approach to fixed assets and a modified accrual basis for financial statements. Porter said the waiver lowers preparation costs and is common for cities the size of Tonganoxie; he noted the city will continue to undergo an annual audit and that cash-basis laws will remain in effect where applicable.
Council member Miss Stevens moved to adopt the resolution; Mister Dale seconded. The council voted in favor of the waiver and the motion carried.
Porter said the city of Leavenworth operates under a GAP basis while other nearby cities have used waivers. He told newer council members the change aligns with practices in similarly sized communities and reiterated that the waiver affects reporting format rather than statutory cash-basis requirements.
The council did not record further debate on alternative accounting approaches during the meeting. The item was presented as part of the new-business agenda and carried on a recorded voice vote.
