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October 2015

Why do Indiana local officials need to learn about GAAP?

Indiana now requires some cities, towns, and counties to publish financial statements in accordance with GAAP (Generally Accepted Accounting Principles). IC 5-11-1-4 now requires GAAP financial reporting for counties, cities, and towns that issue bonds, on the following schedule: CITIES AND TOWNS: Calendar year 2016 (reports filed in 2017) for cities & towns over 250,000 population Calendar year 2018 (reports filed in 2019) for cities & towns over 100,000 population Calendar year 2019 …Read More