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McLeansboro Township adopts capitalization policy aligned with GASB Statement 34
Summary
The board adopted a capitalization policy to align its modified cash-basis accounting with Governmental Accounting Standards Board Statement 34 and applied the policy for the next fiscal year after a unanimous 'Motion carried.'
The McLeansboro Township Board reviewed and adopted a capitalization policy during its June 9, 2026 meeting to align township recordkeeping with Governmental Accounting Standards Board Statement 34. The board noted its books are maintained on a modified cash basis and distributed a proposed policy for review.
After review, Kyle Ingram moved to adopt the capitalization standards for the next fiscal year; Laura Renn seconded the motion and it "carried," formally adopting the policy. The board did not record a roll-call vote in the transcript; the minutes state only that the motion carried.
