A Charter Ordinance exempting the City of Colwich, Kansas from the provisions of K.S.A. 75-1120a, and any amendments thereto relating to the use of generally accepted accounting principles, providing substitute and additional provisions which relate to the naming of an official city newspaper, and repealing any ordinance in conflict therewith:

BE IT ORDAINED BY THE CITY OF COLWICH, KANSAS as follows:

Section 1. The City of Colwich, Kansas, by the power vested in it by Article 12, Section 5 of the Constitution of the State of Kansas, hereby elects to exempt itself and make inapplicable to it K.S.A. 75-1120a, which applies to this city but does not apply uniformly to all cities.

Section 2. Except as hereafter provided, the City of Colwich, Kansas shall cause financial statements and financial reports of the municipality to be prepared on the basis of cash receipts and disbursements as adjusted to show compliance with the cash basis and budget laws of the State of Kansas instead of under generally accepted accounting procedures. Provided, nothing herein shall require, or be interpreted to require, the City to adopt any sort of fixed asset accounting principles as promulgated by the governmental accounting standards board and the American institute of certified public accountants and adopted by rules and regulations of the director of accounts and reports.

(02-19-2024)