RESOLUTION

#43-25

PL #43-25

By Alderman, Seconded by

Alderman

TO AMEND THE CITY OF OLEAN CODE OF ORDINANCES SECTION 2-177 TO REQUIRE CITY FINANCIAL BOOKS TO BE CLOSED OUT WITH ANY ADJUSTING ENTRIES MADE, AS WELL AS FINAL FINANCIAL STATEMENTS TO BE DELIVERED TO THE COMMON COUNCIL, BY SEPTEMBER 1ST

RESOLVED, that the City of Olean Code of Ordinances Section

2-177 is hereby amended as

follows:

Sec. 2-177. Closing of Books

All City financial books must be closed out, with any adjusting and closing entries made, by September 1st of the same calendar year as the end of the fiscal year. Final financial statements including all closing entries shall be delivered to the Common Council by September 1st of the same calendar year as the end of the fiscal year.

RESOLVED, that this Resolution shall be effective immediately.