Ellis County re-adopts GAAP waiver resolution, cites reporting burden
Administrator Darren Myers explained the annual resolution to waive GAAP standards, saying full GAAP compliance would require more staff and audit support; the commission adopted the waiver resolution (vote 3-0).
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Darren Myers, county administrator, presented the annual resolution to waive full GAAP (Generally Accepted Accounting Principles) reporting standards, saying that adopting GAAP standards would require significant additional staff and audit resources. “If we were to change this and follow the GAAP standards, it would require a significant amount of more work, probably additional positions with the county for the reporting procedures,” Myers said.
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